Axonics Inc. (Nasdaq: AXNX), a publicly traded med-tech company developing and commercializing devices to treat urinary and bowel dysfunction, sold for $3.7B to Boston Scientific, a global leader in medical devices and therapies across cardiology, pulmonology, gastrology, oncology, neurology and urology.
Urinary incontinence, or the involuntary leakage of urine, is quite common, affecting 50% of adult women and up to 75% of women over 65. Women are more susceptible to urinary incontinence due to their unique anatomy and health experiences. Pregnancy, for example, causes hormonal changes, pressure on the bladder, and weakened pelvic floor muscles which leads to urinary incontinence in 40% of cases. Menopause is accompanied by urinary incontinence in 50% of cases, due to hormonal changes, loss of vaginal elasticity, and/or weight gain.
A leaky bladder leads to discomfort, embarrassment, and a decreased quality of life. Yet many women do not seek solutions due to stigma or treatment inaccessibility. Current treatments range from lifestyle changes (hard to maintain and ineffective) to surgery (expensive).
There is a clear opportunity to innovate and invest in incontinence care as evinced by the unmet need, significant market size, and acquirer appetite.
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Which startups are leading the charge in addressing urinary incontinence?
In recent years, several startups innovating in the urinary incontinence space have succeeded in securing VC funding across medtech, CPG and healthcare as a service.
Origin (ASV portfolio company): Series A - Brick-and-mortar clinic network providing pelvic floor physical therapy
Alloy: Series A - HRT prescriptions for perimenopause and menopause symptom management
Flyte: Series A - Medical device for the effective treatment of stress urinary incontinence
Attn Grace: Seed - Skin-safe pads and products to help manage bladder leaks
Jude: Seed - All-natural, clinically proven supplement to treat urinary incontinence
Versameb AG: Series A - mRNA therapeutic to treat stress urinary incontinence
The Axonics acquisition marks a pivotal moment, signaling that meaningful innovation in urinary incontinence care is not only possible but increasingly prioritized in women’s health. We at Amboy Street Ventures are proud to be investing in this type of innovation to smash stigma, improve access to critical care and realize financial returns.
