A group of venture capital firms has stumped up $21m in a Series D financing round for US-based women’s healthcare company Gynesonics.
HBM Partners led the round, which was also backed by existing investors Abingworth, Advanced Technology Ventures and InterWest Partners and new investor Correlation Ventures.
The funds will be used to develop the company’s treatment for uterine fibroids, it said.
Chandra Leo, partner at HBM, said, “Women’s health is an important strategic field for a number of large healthcare companies and symptomatic uterine fibroids represent a large opportunity in this space.”
Switzerland-headquartered HBM is focused on the life sciences and healthcare sector.
Earlier this month the firm hit the first close of its latest healthcare fund with commitments of €90m.
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