Irvine, California-based Axonics Modulation Technologies Inc, a developer of the first rechargeable sacral neuromodulation system for the treatment of urinary and fecal dysfunction, has closed $40.1 million in financing. The transaction includes $20.1 million in equity and a $20 million credit facility. Longitude Capital led the equity round that included participation from return backer Gilde Healthcare. Silicon Valley Bank provided the secured credit facility. Concurrent with the financing, Juliet Bakker, co-founder and managing director of Longitude, will join the Axonics’ board of directors.
Source: Press Release