Medtech Firm Raises $20M for Continence Care

The new funding will help launch the company's flagship product, StaySure™, into the U.S. market. This comes after Minnesota Medical Technologies received FDA 510(k) clearance for the device, a key milestone for market entry. The product is a self-inserted, disposable device designed to prevent accidental bowel leakage rather than absorbing it. StaySure™ is made from 100% silicone and is filled with fluid, allowing it to conform to the user's body. The device has been available in Europe since 2021, where it is marketed by Wellspect Healthcare under the brand name Navina Insert. Clinical trials have shown it to be safe and effective in reducing the frequency of fecal incontinence and improving quality of life. The leadership team behind Minnesota Medical Technologies has a history of success in the medical device industry. Several team members, including CEO David A. Jonas and Founder Anthony J. Conway, previously held leadership roles at Rochester Medical Corporation, which was sold to C.R. Bard for $262 million in 2013. The global market for fecal incontinence is substantial and growing, valued at over $2 billion and projected to reach more than $3 billion by 2029. This growth is driven by an aging population and an increasing prevalence of gastrointestinal disorders. Fecal incontinence affects a significant portion of the adult population, with some estimates suggesting one in three people may experience it in their lifetime. Lead investor HM Venture Partners is a venture capital firm specializing in biotech and medtech companies. With offices in the U.S. and Beijing, the firm has over $600 million in assets under management and a portfolio that includes companies in therapeutic devices, drug discovery, and surgical devices.