Healthcare Industry News: endoscopy
News Release - December 3, 2013
Xlumena Closes Series C Financing; Focuses on Expanding Global Commercial Presence and Obtaining FDA ClearanceMOUNTAIN VIEW, Calif., Dec. 3, 2013 -- (Healthcare Sales & Marketing Network) -- Xlumena, Inc., a leader in the development of advanced endoscopic devices, today announced the close of a $25 million Series C financing. Led by Third Point LLC, the round of funding includes existing investors Prism VentureWorks, Charter Life Sciences, Ascent Biomedical Ventures and Aperture Venture Partners. Xlumena will use the Series C proceeds to expand global commercialization efforts for its AXIOS family of devices and continue the process of bringing this innovative platform to the US interventional endoscopy community.
Xlumena's principal product, the AXIOS Stent and Delivery System, obtained a CE mark designation in Europe in 2012 and is available in a select number of centers. The AXIOS Stent, a fully-covered, dual-flanged stent, is delivered under endoscopic ultrasound guidance and designed to create a secure drainage pathway between the gastrointestinal tract and the common bile duct, gallbladder or pseudocyst. The HOT AXIOS, also available in Europe, incorporates cautery into the delivery system, enabling access and stent delivery in a single device. The AXIOS devices have been used in the treatment of acute cholecystitis, biliary inflammation associated with strictures or stones in the bile duct, and pancreatic pseudocysts.
Greg Patterson, President and CEO of Xlumena, commented: "As a company, we have always focused on the needs of interventional endoscopists. This financing will allow us to better meet the global commercial demand and provide a springboard for an initial launch of the AXIOS in the United States once FDA clearance is granted. We look forward to this new collaboration with Third Point and a continued partnership with our existing investors." Jason Hong Ph.D. will represent Third Point LLC on the Xlumena Board of Directors.
For more information about the AXIOS Stent and Delivery System, please visit www.xlumena.com.
About Xlumena, Inc.: Xlumena is the leader in developing products that enable advanced image-guided endoscopy procedures. These innovations will allow endoscopists to offer minimally invasive alternatives to patients suffering from common gastrointestinal and biliary conditions. Pioneering interventional endoscopists around the world are using Xlumena's products to extend their therapeutic reach.
About Third Point: Third Point LLC is an SEC-registered investment adviser headquartered in New York. Founded in 1995, Third Point follows an event-driven approach to global investing.
CAUTION: The AXIOS and HOT AXIOS devices have CE mark designation in Europe. They are not available for sale in the United States.
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