The Company Increases Funding to Expand Clinical Studies and Obtain Regulatory Approvals
Kerem-Maharal, Israel, January 26th, 2016 – Lyra Medical, a developer of an innovative trans-vaginal implant, has secured additional funding from a high-profile private investors group in the US. Lyra plans to use this fundraising round to facilitate market adoption of its product, by providing strong clinical evidence and demonstrating the ease-of-use, safety, clinical outcome and economic value of the Self Retaining Support (SRS) technology. This will be obtained by extending Lyra Medical’s clinical studies, i.e. recruiting more patients at more medical centers around the world.
Lyra Medical’s implant is a revolutionary surgical treatment for women suffering from advanced anterior vaginal wall prolapse with or without apical prolapse. The Self-Retaining Support (SRS) technology eliminates the need for complex anchoring techniques delivering a safe and long-term treatment solution.
Lyra’s technology mimics the physiologic pubocervical fascia and restores pelvic organs to their anatomical and functional location. This anchorless technique restores transvaginal implants as a viable, safe and effective treatment that far surpasses current mesh kits and native-tissue repair procedures.
“The continued support from existing shareholders and the trust we have received from our new investors will allow us to significantly extend our clinical studies effort. We intend to use the funds to allow more women at more Medical Centers to participate in our studies. Enhancing our evidence-based data will assist us to obtain regulatory approval and achieve market adoption” said Iram Levit, Lyra Medical’s CEO.
“When you examine a happy patient with optimal anatomy 18 months after SRS implantation, you realize that this unique design provides perfect results even in the most advanced prolapse patients. The Lyra SRS is optimal: short procedure, painless recovery and superior subjective and anatomical results. I’m glad that the completion of this additional fundraising round will allow me and my colleagues to offer the SRS solution to more of our patients” adds Dr. Gil Levy, Lyra Medical’s CMO.
For more information about Lyra Medical and its technology please visit www.lyramed.com.
About Lyra Medical
Lyra Medical was established in 2011 by a team of seasoned medical device entrepreneurs to develop a new and safer support implant for women suffering from pelvic organ prolapse (POP).
The company’s Self-Retaining Support (SRS) technology is presently being applied in the flagship Lyra system for anterior vaginal wall, Apex and uterine prolapse. The support platform may be applicable in other pelvic organ disorder conditions, such as rectocele and urinary incontinence, as well as other clinical areas. In all these areas, there is an acute need for therapeutic solutions that deliver exceptional safety and long-term efficacy.