#United States #Pleasanton #Type 2 Diabetes #Aqua Medical #PIMA Procedure

Aqua Medical Raises Series B Funding

Aqua Medical, Inc., known for its innovative medical technology in diabetes treatment, has announced the successful closing of a Series B funding round led by Relevance Ventures, based in Nashville, Tennessee. This significant investment aims to propel Aqua Medical's clinical efforts in the United States, focusing on their Proximal Intestinal Mucosal Ablation (PIMA) procedure, designed to treat Type 2 diabetes.

A New Approach to Diabetes Treatment

For years, the management of Type 2 diabetes has relied heavily on daily medication and invasive surgical procedures. With an alarming global rise in diabetes cases—affecting around 589 million individuals and costing over $1 trillion annually in healthcare—there is an urgent need for novel treatment strategies. Aqua Medical's PIMA procedure stands out as a minimally invasive option, utilizing endoscopic techniques to directly target metabolic pathways associated with the disease.

The Role of the Funding

The capital from this funding round will not only support the completion of the ongoing RESTORE-1 pilot study but will also help prepare for a pivotal trial of the PIMA procedure in the U.S., pending regulatory approval. The company is mobilizing resources to enhance its research framework and enroll patients into the clinical trial, thus attempting to validate the effectiveness and scalability of this innovative approach within the existing healthcare framework for diabetes management.

Significant Preliminary Success

Aqua Medical has already made strides internationally, having treated 66 patients outside of the U.S., where positive outcomes were noted, including some patients becoming insulin-free following the PIMA treatment. Such results provide hope for the clinical trials currently underway in the U.S., which have already seen four patients participate under an FDA Investigational Device Exemption (IDE).

Bob Haggerty, President and CEO of Aqua Medical, expressed optimism about the new investment, stating, "We are pleased to welcome Relevance Ventures as the lead investor in this financing and Dean Newton to our Board of Directors. This support will help advance our U.S. clinical program and build the evidence needed for the next stage of Endoscopic Metabolic Restoration for Type 2 Diabetes."

Industry Dynamics and Future Outlook

Type 2 diabetes is recognized as a considerable health crisis requiring urgent intervention strategies. "The challenge presented by Type 2 diabetes remains daunting on a global scale," shares Dean Newton, Chairman of Relevance Ventures. "We are excited to support Aqua Medical in exploring a groundbreaking endoscopic approach that could revolutionize the treatment landscape for this chronic disease."

As Aqua Medical advances its clinical trials, the focus will remain on generating robust data that can shape future regulatory submissions and widen the accessibility of their procedures. With rigorous studies being conducted, the company aims to solidify Endoscopic Metabolic Restoration as a viable, practical intervention in the fight against Type 2 diabetes.

About Aqua Medical

Aqua Medical is at the forefront of clinical-stage medical innovation, striving to develop a non-invasive approach to manage Type 2 diabetes. By leveraging its proprietary radiofrequency vapor ablation technology for the PIMA procedure, the company endeavors to reshape the treatment paradigms associated with metabolic disorders. The RFVA system is already FDA-cleared for certain applications within gastrointestinal treatments, while ongoing studies aim to establish PIMA's safety and efficacy in diabetes care.

For further information on Aqua Medical's pioneering technology and ongoing clinical endeavors, interested patients and healthcare providers are encouraged to reach out to the company directly or consult with medical professionals involved in diabetes research and treatment.