NeuWave Closes $25M Series C

by Brian Lee

NeuWave Medical, which focuses on clinical innovation to fight cancer, announced today that it completed a $25 million Series C financing round, led by Versant Ventures.

According to a release, the money will be used to expand commercialization efforts and develop the next generation of innovations.

“With this round of financing, we are well positioned to accelerate our commercial and R&D expansion plans to advance our mission of offering cost-effective and clinically efficacious alternatives for millions of patients worldwide,” CEO Dan Sullivan said in a statement.

NeuWave’s main technology is the Intelligent Ablation System, which uses focused heat to eliminate lesions in the body. It is used by several U.S. cancer institutions, according to NeuWave.

Other investors in the round included  H.I.G. BioVentures and Venture Investors.