News & Events

Initial Studies of Channel Medsystems’ Cryothermic Therapy Demonstrate Preliminary Safety and Tolerability; Results Presented at the 42nd AAGL Global Congress

San Francisco, California, November 18, 2013. Results from histopathology and initial tolerability studies of Channel Medsystems’ novel technology for endometrial ablation were presented at last week’s AAGL Global Congress in Washington, D.C. The findings represent a first indication of the safety and effectiveness of this device, which is intended for use in the treatment of heavy menstrual bleeding, a condition that affects one in five women in the United States. The published data demonstrate that the Company’s cryothermic therapy had preliminary safety, created a favorable ablation profile, and was well-tolerated by subjects. Evidence from these initial studies forms the foundation of a data set designed to prove that Channel Medsystem’s device is an appropriate technology for the physician office setting.

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Channel Medsystems Receives Health Canada Approval to Begin Clinical Evaluation of its Innovative Procedure for Heavy Menstrual Bleeding; Hires Mary Edwards as Senior Vice President, Clinical and Regulatory Affairs.

San Francisco, California. November 11, 2013. Channel Medsystems has received investigational testing authorization from Health Canada to begin enrolling patients in the Cryoablation Feasibility Trial (CRYSTAL), a multi-site clinical trial designed to evaluate its innovative cryothermic treatment for heavy menstrual bleeding due to benign causes. The CRYSTAL study is designed to evaluate the efficacy and tolerability of Channel Medsystems’ in-office cryothermic procedure. The Company expects to enroll its first patient in November.

One in five women suffers from heavy menstrual bleeding, impacting both their health and quality of life. In the US, global endometrial ablation (GEA) is the most common procedure for treating heavy menstrual bleeding. Existing GEA procedures are typically performed in a hospital or outpatient surgical center and often require general anesthesia or conscious sedation to reduce discomfort during treatment. Recovery times and outcomes are often highly dependent on the technology used, the skill of the physician and the anesthesia regimen elected.

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Channel Medsystems® Names Ric Cote as President and CEO; Secures $9.7 Million Investment

San Francisco, Calif. — (May 2, 2013)—Channel Medsystems, Inc., named Ric Cote president and chief executive officer, and issued $9.7M of Series B Preferred Stock.

“Ric is an excellent fit due to our focus on creating the first truly office-based Global Endometrial Ablations technology,” said prior CEO and co-founder Dr. Dan Burnett. “We are hoping he can replicate his success at Conceptus where he successfully built revenues of their office-based procedure to over $140 million per year.”

The Series B financing was led by Boston Scientific Corporation (NYSE:BSX), a leading innovator of medical devices and technologies. Investors in the round included; InCube Ventures, Aperture Ventures, Scientific Health Development II and STCM Ventures. Proceeds will be used to fund continued development of the company’s novel cryogen-based global endometrial ablation technology and on-going R&D and Clinical Regulatory efforts. Financial terms were not disclosed.

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