Singapore - Irvine, CA-based Axonics Modulation Technologies (AXNX) has filed a prospectus for an $86M IPO.
The medtech company has developed an implantable rechargeable neuromodulation device that stimulates the sacral nerve as a way to treat overactive bladder, fecal incontinence and urinary retention. The system, called the r-SNM, delivers mild electrical pulses via a four-electrode lead inserted through the sacrum (triangular bone in the lower back between the two hip bones) during a brief surgical procedure. The pulse generator is implanted in the upper buttock area.
The device is currently approved for sale in Europe, Canada and Australia. A U.S. marketing application is on tap for Q1 2019.
