Axonics Modulation Technologies raises $38.5 mln

Axonics Modulation Technologies Inc. said Monday it raised $38.5 million in Series B financing. New investors Advent Life Sciences and Cormorant Asset Management participated in the round. They were joined by the existing syndicate led by Edmond de Rothschild Investment Partners. Existing investors NeoMed Management, Legend Capital, a venture capital arm of Legend Holdings Ltd., The Alfred E. Mann Foundation and a select group of private individuals also participated. Irvine, California-based Axonis is developing implantable neuromodulation technology.

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