Vensica raises $2 million
Cogentix Medical makes $2 million investment in Israeli company developing innovative and novel device for delivery of drugs to the bladder
Cogentix Medical, Inc. (NASDAQ: CGNT), a global medical device company focused on providing the Urology, Uro/Gyn and Gynecology markets with innovative and proprietary products, today announced a $2 million investment in Vensica Medical. Vensica is a privately-held Israeli-based company developing VensiCare, an ultrasound based, needle-free drug delivery system. The initial indication pursued for the VensiCare device will be the delivery of botulinum toxin (such as Botox® or Dysport®) to treat overactive bladder (OAB). Vensica also has intellectual property for the delivery of oncology agents to the bladder. Vensica currently anticipates commencing human clinical trials of VensiCare for OAB during the fourth quarter of 2018. Cogentix will receive one seat on the Vensica Board and options to acquire the entire company for an additional $8 million.