Newly formed Australian medical device company NinaMED Pty Ltd has launched with US$13.75 million in financing. Led by SPRIM Global Investments, the funding will support the commercialization of a novel therapy for overactive bladder (OAB). NinaMED has licensed exclusive global rights from EBT Medical for the NiNA System®, a non-invasive, at-home treatment.
A Novel Approach to Overactive Bladder
Overactive bladder is a widespread condition affecting an estimated 550 million people globally, representing a significant unmet need. Current treatments often involve medications with side-effects, invasive procedures, or frequent clinical visits. The NiNA System® provides a compelling drug-free alternative for patients seeking a less burdensome solution.
The system is a wearable neuromodulation device using proprietary technology to target the saphenous nerve in the upper calf. Its patient-centric design enables convenient treatment sessions from the comfort of home. The technology is engineered to deliver significant and persistent reduction in OAB symptoms without invasive surgery.
Strategic Funding and Development Pathway
The new US$13.75 million in capital will be instrumental in accelerating the NiNA System's development. A primary goal is supporting the company's path toward an Investigational Device Exemption (IDE) Application. These funds will also establish and expand the company's operational headquarters in Melbourne for its global opportunity.
The venture unites key organizations, with NinaMED licensing the technology from its Toronto-based originator, EBT Medical. The financing was led by SPRIM Global Investments, a firm specializing in clinical-stage life sciences. Long-standing EBT backer SV Health Investors also supports this important step toward commercialization.
Experienced Leadership to Steer Growth
To guide its growth, NinaMED has appointed a board with deep industry expertise. The board is led by newly appointed Chair, Professor Ian Meredith, a leading interventional cardiologist. His career includes serving as the Executive Vice President and Global Chief Medical Officer at Boston Scientific.
Joining Professor Meredith on the board are Non-Executive Directors Kelly Constable and Steffen Hovard. Both bring extensive backgrounds in medtech commercialization, investment strategy, and executive leadership within global life sciences companies. Their experience positions NinaMED for a strong push toward its commercial goals.
Industry Perspective and Future Outlook
Industry leaders have voiced strong optimism for the company's future and its technology. Michael Shleifer of SPRIM Global Investments highlighted the NiNA System® as a differentiated solution for the large OAB market. Professor Meredith also expressed excitement about the technology's strength and the opportunity to address a significant unmet need.
EBT Medical, the technology's originator, views this as a major milestone in the device's journey. Keith Carlton, CEO of EBT Medical, confirmed his company will continue developing its separate implantable nerve technology. This allows NinaMED to focus exclusively on advancing the non-invasive NiNA System® toward the global market.
With its establishment in Melbourne, substantial US$13.75 million in funding, and an experienced leadership team, NinaMED is poised for progress. The company is focused on advancing the NiNA System® through clinical development to offer a new option for millions with OAB. This launch marks a promising new chapter in pelvic health innovation, driven from an Australian base.