NinaMED Secures $13.75 Million Funding to Propel Global Launch of Non-Invasive OAB Therapy

Key Takeaways

NinaMED secures $13.75 million in funding to advance the NiNA System®, a drug-free therapy for overactive bladder (OAB).
The NiNA System® offers a wearable, non-invasive treatment targeted at a 550 million-patient market.
NinaMED’s newly appointed board boasts extensive experience in medical devices and global healthcare commercialization.

NinaMED Advances Drug-Free OAB Treatment

NinaMED Pty Ltd, an Australian medical device company, has established itself and secured $13.75 million in financing, primarily from SPRIM Global Investments. This funding will aid the development and commercialization of the NiNA System®, an innovative, non-invasive therapy designed for overactive bladder (OAB) patients.

The NiNA System® utilizes advanced neuromodulation technology that targets the saphenous nerve through a wearable device. This patient-centric design allows users to undergo treatment in the comfort of their own homes, aiming to significantly alleviate the symptoms of OAB without drugs. With about 550 million people worldwide affected by OAB, NinaMED addresses a critical need for alternatives to traditional treatments, which often involve systemic side effects or invasive procedures.

Headquartered in Melbourne, NinaMED will use the new funding to expedite clinical development and navigate regulatory pathways, such as the Investigational Device Exemption (IDE) application, as it prepares for a global market launch. Alongside its financial backing, the company formed a Board of Directors led by Ian Meredith, accompanied by experienced Non-Executive Directors Kelly Constable and Steffen Hovard. Their collective expertise in medical devices and healthcare will support NinaMED’s growth.

SPRIM Global Investments expressed enthusiasm about NinaMED’s potential, stating that the NiNA System® offers a unique solution to the burgeoning OAB market. Gregory Madden, representing SV Health Investors, highlighted the importance of advancing this innovative technology for patients seeking alternatives to invasive treatments.

The NiNA System® technology, developed at the University of Toronto and patented by EBT Medical, has undergone multiple feasibility studies in North America. It presents a safer, effective, and more comfortable treatment experience than existing options, which may include anticholinergic medications and surgical interventions. The device’s design allows targeting of the saphenous nerve, located in the upper calf, making it a less invasive choice for patients.

As the company progresses toward commercialization, NinaMED is committed to maintaining a strong Australian presence while aiming for global outreach, addressing a significant gap in the treatment of pelvic health disorders. The development journey is seen as an exciting opportunity to meet the urgent need for accessible and effective OAB solutions.

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