Irvine-based Axonics Modulation Technologies Inc. raised $38.5 million in Series B financing.
The device maker plans to use the money for a multicenter clinical study of overactive bladder patients in North America and Europe.
The company makes devices used to treat overactive bladder, fecal incontinence and urinary retention, conditions that affect more than 100 million adults around the world, according to the company.
It licenses the technology from the Valencia, Calif.-based Alfred Mann Foundations, which supports medical device development.
Investors include London-based Advent Life Sciences, Boston-based Cormorant Asset Management and Edmond de Rothschild Investment Partners of Paris.
Axonics has raised about $59 million since March 2014.
—Vita Reed
