News Summary
Valencia Technologies has announced a $35 million investment from Brooks Advisory Group to enhance the commercialization of its FDA-approved eCoin® system for treating urgency urinary incontinence. New CEO James D. Surek aims to leverage his extensive experience for the product’s market introduction. The eCoin system is a minimally invasive solution that significantly reduces UUI episodes. The funding will support sales, reimbursement, and more as Valencia prepares for aggressive market expansion in the neuromodulation field.
California – Valencia Technologies, a medical device company based in Valencia, California, has announced a significant investment aimed at enhancing its operations and market reach. The company secured committed funding of up to $35 million from Brooks Advisory Group, an affiliate of Brooks Management Group (BMG). This strategic investment is set to advance the commercialization of Valencia’s flagship product, the eCoin® system, which has received FDA approval for treating urgency urinary incontinence (UUI).
Alongside the financial backing, Valencia Technologies has appointed James D. Surek as its new CEO. Surek brings a wealth of experience in the medical device industry, having previously held senior leadership roles that resulted in significant revenue growth and successful market strategies. His leadership is projected to propel Valencia’s growth and the effective introduction of the eCoin device into the healthcare market.
The eCoin system is an innovative solution targeting patients suffering from UUI. It consists of a coin-sized neurostimulator that is implanted just beneath the skin near the ankle during a minimally invasive outpatient procedure. This device delivers periodic stimulation to the tibial nerve twice a week, helping to reduce episodes of UUI by at least 50% in approximately 75% of patients within one year.
The new funding not only aims to accelerate the commercialization process for the eCoin system but also includes a comprehensive support structure provided by Brooks Advisory Group. They will assist in areas such as sales, reimbursement, payor services, and financial strategies, providing a robust framework for Valencia’s market entry and expansion.
Valencia Technologies first received FDA approval for the eCoin system in 2022, making it the only FDA-approved subcutaneous implantable tibial nerve stimulator specifically designed for UUI. This achievement marks a significant milestone in minimally invasive treatment options available to patients, offering an effective alternative to traditional medications and more invasive surgical procedures.
In terms of leadership, Valencia’s expanded management team features Dain Black, Ryan Brooks, and Jim Surek, alongside existing Board members Jeff Greiner and Don Hubbard. This combination of expertise is expected to enhance Valencia’s operational capabilities and strategic direction as it prepares for an aggressive rollout of its eCoin product.
James D. Surek’s prior accomplishments in the medical device field include playing a key role in driving revenue growth of over $200 million within a three-year span at Advanced Bionics, a company later acquired by Boston Scientific for approximately $3 billion. Additionally, he has a notable record of transforming businesses, exemplified by his leadership at Entellus Medical, where he successfully scaled revenue from less than $1 million to over $70 million and facilitated an initial public offering (IPO) within just four years.
Experts in the medical field have highlighted the eCoin system as a promising treatment alternative for patients battling the challenges associated with overactive bladder. The device’s design ensures a streamlined post-implant experience, requiring minimal follow-up programming sessions and eliminating the necessity for weekly charging, a common concern among users of similar devices.
As Valencia Technologies moves forward with its strategic plans, the combination of substantial investment and seasoned leadership is poised to set the stage for accelerated growth and an impactful presence in the neuromodulation market.
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