Vensica Therapeutics raises $16 million for its urology treatment platform

Clinical stage biopharmaceutical company Vensica Therapeutics has announced that it closed an investment round of $16 million led by Israel Biotech Fund (“IBF”), a venture fund investing in Israeli-related biotechnology and pharmaceutical companies. Other investors include urology device company Laborie, medical device investor Lew Pell, a trust of which Vincent Tchenguiz is a discretionary beneficiary called Agriline, and The Trendlines Group, an investor in medical and agricultural technologies.

Vensica has a needle-free platform for drug delivery and can be used for botulinum toxin type A delivery into the urinary bladder for the treatment of different urological conditions. Today, high-quality treatment requires needle injection into the bladder wall. However, the company’s needle-free platform can improve patient experience, resolve needle-related issues, and make procedures easier. The investment follows an announcement earlier this year of the signing of a collaboration agreement with Merz Therapeutics, a business of the Merz Group in the field of neurotoxins.

“Closing this investment round is an exceptional step for Vensica,” said its CEO Avner Geva. “Together with our partner and shareholder, Merz Therapeutics, and with the necessary funding, we are poised to plan and complete clinical and regulatory processes that will enable us to bring innovative and less invasive treatment of bladder diseases to the market.”

Following the funding, Vensica will expand its Israeli workforce for the next stage of clinical and regulatory development of its device in Europe and the USA.

“It is our pleasure to welcome and thank our new investors, IBF and Agriline, joining our longstanding supporters Laborie, Lew Pell, and The Trendlines Group,” said Vensica Chair, Nissim Darvish, M.D., Ph.D. “Vensica’s team will work hard to get this solution to patients worldwide suffering from overactive bladder as well as other urinary bladder indications.”

IBF’s Co-Founder and Managing Partner, Ido Zairi, added: “IBF is happy to join Vensica in this journey which may be life-changing for many people suffering from bladder-related conditions or diseases. We look forward to seeing Vensica’s unique needle-free platform embedded as a method of treatment for overactive bladder and other indications.”

Vensica was founded in 2015 by Geva and is backed by Darvish Lew Pell, Laborie, Merz Pharmaceuticals, The Trendlines Group, and The Israel Innovation Authority. Its total funding stands at approximately $19.2 million.