News Summary
Valencia Technologies, a medical device company based in California, has secured a strategic investment of up to $35 million from Brooks Advisory Group. This investment will accelerate the commercialization of their FDA-approved eCoin® system for treating urgency urinary incontinence. Additionally, the company has appointed James D. Surek as CEO, who brings extensive experience in the medical device industry. The investment will also include consulting services aimed at enhancing the market approach for the eCoin device.
California – Valencia Technologies, a medical device company based in Valencia, California, has recently secured a strategic investment of up to $35 million. This funding is being provided by Brooks Advisory Group, which is affiliated with Brooks Management Group. The investment will be crucial in accelerating the commercialization of Valencia’s flagship product, the eCoin® system, designed for treating urgency urinary incontinence (UUI).
In conjunction with this funding announcement, Valencia Technologies has appointed James D. Surek as its new Chief Executive Officer. Surek brings a wealth of experience in commercial leadership within the medical device industry, having successfully led significant revenue growth initiatives in his previous roles.
The eCoin device is notable as the first and only FDA-approved subcutaneous implantable tibial nerve stimulator specifically for UUI. Approved in 2022, this innovative device is about the size of a coin and is implanted under the skin near the ankle through a minimally invasive outpatient procedure. The eCoin provides periodic stimulation to the tibial nerve twice a week, which has been shown to reduce episodes of urge urinary incontinence by at least 50% in 75% of patients within one year of treatment.
In addition to the financial investment, Brooks Advisory Group will also assist Valencia Technologies with consulting services related to commercialization, sales strategies, reimbursement processes, and payor services. This partnership aims to enhance the market approach for the eCoin device and support Valencia in navigating the healthcare landscape effectively.
Joining Surek in the management of Valencia Technologies are key figures including Dain Black and Ryan Brooks, alongside existing board members Jeff Greiner and Don Hubbard. This strengthened leadership team is expected to drive the company’s next phase of growth in the burgeoning neuromodulation field.
Surek comes with a robust track record. His previous accomplishments include leading Advanced Bionics, where he contributed to revenue growth exceeding $200 million over three years, culminating in the acquisition of the company by Boston Scientific for around $3 billion. Additionally, at Entellus Medical, he orchestrated a turnaround that boosted revenue from less than $1 million to over $70 million within just four years, successfully reaching an IPO.
The eCoin device not only offers effective treatment for patients but also streamlines the post-implant experience. It requires minimal follow-up programming sessions and eliminates the need for weekly battery recharging, making it an appealing option for those seeking alternatives to traditional medications and more invasive surgical procedures.
Experts in the medical field, such as Dr. Jason Kim from Stony Brook Medicine, have highlighted the efficacy of the eCoin system, positioning it as a valuable treatment alternative for patients suffering from overactive bladder symptoms. As more patients seek less invasive options, the advancements in neuromodulation offered by Valencia Technologies promise to meet a critical need in the healthcare market.
With the recent appointment of its new CEO and significant investment secured, Valencia Technologies is poised for accelerated growth and significant impact in the field of neuromodulation, particularly in addressing the challenges associated with urgency urinary incontinence.
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