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GSR Ventures leads $7m round for Mirabilis Medica

18 Jun 2013

medical_lrgVenture capital firm GSR Ventures led a $7m Series A investment for women’s healthcare company Mirabilis Medica to fund clinical studies and product development.

The investment, which was also backed by existing investor Charter Life Sciences, is part of the company’s Series A-1 financing round of up to $13m.

The initial closing included $4m of new cash and conversion of $3m of notes to equity.

Mirabilis is working on commercialising its high-intensity focused ultrasound (HIFU) technology for the treatment of symptomatic uterine fibroids.

The company also said that medical device entrepreneur Jens Quistgaard will now serve as its chief executive.

Special advisor to GSR Ventures Kevin Fong said, “Mirabilis is in an excellent position to commercialize a very important technology that has the potential to improve care for millions of women worldwide.

“We are very pleased to have Jens moving into the CEO role, given his strong track record and industry expertise.”

GSR is an early-stage venture capital firm focused technology and healthcare companies with substantial markets in China. The firm currently has over 50 companies in its portfolio and more than $1bn under management.

Last year GSR closed its $133m Opportunities IV fund.

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