Vensica closes $19 million round with investment from strategic partner Merz

News of this investment appeared in Geektime, PR Newswire and Yahoo Finance and Merz Therapeutics.

Vensica Therapeutics, a clinical stage biopharmaceutical company, has closed a $19 million investment round. Vensica executed a strategic collaboration agreement with Merz Therapeutics in 2021 and the Merz Group is participating in Vensica’s financing with up to $3 million, bringing the total round to up to $19 million. The round was led by Israel Biotech Fund (IBF) with the participation of Laborie, Lew Pell, Agriline, and The Trendlines Group.

Merz Therapeutics, a business of the Merz Group, is a leader in the field of neurotoxins. Vensica has exclusively licensed Merz’s botulinum neurotoxin A (Xeomin®) for needle-free use in urological procedures.

Vensica is unlocking the potential of neurotoxins in urology by developing minimally invasive solutions using the unique properties of therapeutic ultrasound to deliver botulinum toxin A to the bladder. Vensica’s needle-free drug delivery platform is intended for the treatment of urological indications including overactive bladder, neurogenic bladder, and interstitial cystitis. Today’s gold standard treatment requires needle injections of the neurotoxin into the bladder wall. Vensica’s needle-free platform is expected to enable a far superior patient experience resolving needle-associated issues including pain, and urinary retention, making a generally more complicated procedure easier. Vensica’s platform is anticipated to facilitate more efficacious treatment through more uniform delivery of the neurotoxin to the bladder wall.

The funds raised will support the company’s phase II multicenter clinical trials in Europe and the USA. Vensica is expanding its workforce in Israel for next stage clinical and regulatory development of its device together with Merz Therapeutics’ XEOMIN®, focusing on overactive bladder treatment.

Vensica CEO Avner Geva, commented,

This investment demonstrates Merz’s commitment to us as a company and to establishing a urology treatment platform to treat bladder indications. Merz is the second strategic global company joining this round, following Laborie, a global urology company, that has made two investments in Vensica.

 

Our ambition is to grow and to expand our product portfolio with more solutions that help us to create better outcomes for more patients,

 

states Stefan Brinkmann, CEO of Merz Therapeutics.

Merz’ commitment to Vensica reflects how promising the needless treatment of patients with overactive bladder is in combination with our strategic product XEOMIN®. The first months of our collaboration with Vensica already showed good progress and our further investment will strengthen our position as a strategic partner of Vensica and a driver for the development of a less invasive treatment of bladder diseases.