Axonics Ups Series C Funding By $20.5M

Irvine-based medical device maker Axonics Modulation Technologies has raised $20.5M more in its Series C funding, bringing the funding in the round to a total of $35M. According to Axonics, the second closing included Gilde Healthcare, and La Jola-based CICA. The funding also included Cormorant Asset Management. As part of the funding, Gilde Healthcare's Geoff Pardo joins the company's board. Axonics Modulation Technology is developing a system for the treatment of urinary and bowel dysfunction; the company said the new funding will go towards a clinical study effort. More information »