Halt Medical Inc. has received $15 million of financing to support commercialization of the Acessa System, a newly FDA cleared medical device to treat uterine fibroids.
"We are delighted that American Capital Ltd. has chosen to once again lead financing for this critical new medical device," states Jeff Cohen, Halt Medical CEO. "Furthermore, there was significant participation by existing investors, validating our work to address one of the largest unmet needs in women's health worldwide."
Acessa System is a new medical technology for treating millions of women suffering from uterine fibroids. Acessa is the only medical device that can be used by gynecologists to treat all fibroid symptoms and types. According to the Centers for Disease Control, fibroids are the leading cause for hysterectomy procedures worldwide. It's estimated that 97% of women with fibroids choose to suffer with their symptoms rather than having their uterus removed. Acessa is used in a minimally invasive same-day surgery procedure where a slender Handpiece is used to deliver radiofrequency energy to the fibroid, after which the fibroid is re-absorbed by the surrounding tissue.
In traditional fibroid surgery, layers of healthy tissue are cut through to gain access to the tumor or the uterus is removed entirely. This can lead to complications, significant pain, long recovery times and infertility. Acessa treats just the fibroids, preserving the normal function of the uterus. Patients typically go home the same day with little pain and experience rapid recovery and return to normal activities. Acessa is already being used to treat women at medical centers in Canada and Europe with outstanding results from three clinical studies.