UroMems Raises $47M in Series C

UroMems, a Grenoble, France- and Minneapolis, MN-based-based company developing implantable mechatronics technology, raised $47M in Series C funding.

The round was led by Crédit Mutuel Innovation and joined by the European Innovation Council as well as existing investors Wellington Partners, Bpifrance, Supernova Invest, Hil-Invent, b-to-v Partners and Financière Arbevel.

The company intends to use the funds to support large-scale U.S. and European pivotal clinical trials of the UroActive™ implant.

Led by CEO Hamid Lamraoui and CMO Professor Pierre Mozer, UroActive is an active implantable electronic artificial urinary sphincter that is being developed to compensate for sphincter insufficiency in patients, both men and women, with Stress urinary incontinence (SUI.) It is based on a bionic platform using embedded smart, digital and robotic systems which, based on data collected from a patient, create a treatment algorithm that is specific for each patient’s needs. It is protected by more than 150 patents and is designed to overcome the limitations of current solutions by optimizing safety and performance, patient experience and surgeon convenience. UroActive has not received marketing authorization from the FDA and is not available for sale in the United States or in the EU.