Atlantic Therapeutics announced on 1/7/19 that it has closed €28 million in Series B funding to continue its rapid growth trajectory.
Having recently gained FDA clearance for its INNOVO® therapy device, this latest round of funding will enable Atlantic Therapeutics to enter the US market, accelerate sales in other geographies, further develop its existing product portfolio, and expand into new clinical applications.
Atlantic Therapeutics’ Series B round was led by LSP, one of Europe’s largest healthcare investment firms, investing from its LSP Health Economics Fund 2. LSP was joined by Andera Partners, investing from its BioDiscovery 5 fund, and Atlantic Bridge Ventures, investing from the China-Ireland Growth Technology Fund. In addition, the company’s existing investors, Seroba Life Sciences and Earlybird Venture Capital, followed their investment.
“Atlantic Therapeutics’ INNOVO® provides a safe, clinically proven front-line therapy, increasing the options for the treatment of stress urinary incontinence, with the potential to significantly improve quality of life,” said Anne Portwich, Partner at LSP.
Atlantic raised $17 million in a previous round. The company bills itself as a developer of professional and consumer medical devices, related software, apps and connected health technologies to treat all types of incontinence, sexual health dysfunctions, and other associated disorders by strengthening muscles and modulating nerves of the pelvic floor.