Bryan Smith

Oct 21

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Minerva Surgical Announces Pricing of Initial Public Offering

By Bryan Smith IR News

October 21, 2021

SANTA CLARA, Calif., Oct. 21, 2021 /PRNewswire/ — Minerva Surgical, Inc. (Minerva Surgical), a women’s health company focused on the treatment of Abnormal Uterine Bleeding (AUB), today announced the pricing of its initial public offering of 6,250,000 shares of its common stock at a public offering price of $12.00 per share. All of the shares are being offered by Minerva Surgical. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Minerva Surgical, are expected to be $75.0 million. The shares are expected to begin trading on the Nasdaq Global Market on October 22, 2021, under the ticker symbol “UTRS.” The offering is expected to close on October 26, 2021, subject to the satisfaction of customary closing conditions. In addition, Minerva Surgical has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

J.P. Morgan Securities LLC, Piper Sandler & Co., UBS Securities LLC and SVB Leerink LLC are acting as joint book-running managers for the proposed offering.

A registration statement relating to these securities became effective on October 21, 2021. The offering will be made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone: +1 (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by e-mail at prospectus@psc.com, or by phone at (800) 747-3924; UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, telephone: 1-888-827-7275 or by emailing ol-prospectus-request@ubs.com; SVB Leerink LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, telephone: +1 (800) 808-7525, ext. 6105 or by email at syndicate@svbleerink.com. Copies of the final prospectus, when available, related to the offering will be available at www.sec.gov.

ABOUT MINERVA SURGICAL

Minerva Surgical is a commercial-stage medical technology company focused on developing, manufacturing, and commercializing minimally invasive solutions to meet the distinct uterine healthcare needs of women. The company has established a broad product line of commercially available, minimally invasive alternatives to hysterectomy, which are designed to address the most common causes of abnormal uterine bleeding (AUB) in most uterine anatomies. The Minerva Surgical solutions can be used in a variety of medical treatment settings and aim to address the drawbacks associated with alternative treatment methods and to preserve the uterus by avoiding unnecessary hysterectomies.

Forward-Looking Statements

This press release contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about the completion, timing and size of the proposed initial public offering. Each forward-looking statement is subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the initial public offering discussed above will be completed on the terms described or at all. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Minerva Surgical, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in the prospectus included in the registration statement, in the form last filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and Minerva Surgical undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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INVESTOR RELATIONS CONTACT

Joel Jung
Chief Financial Officer
Minerva Surgical, Inc.,
(650) 399-1776

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Jun 30

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Minerva Surgical Issues Update on U.S. Supreme Court Ruling on Assignors Estoppel

By Bryan Smith IR News

June 30, 2021

SANTA CLARA, Calif., June 30, 2021 /PRNewswire/ — On June 29, 2021, the U.S. Supreme Court issued a decision in Minerva Surgical, Inc. v. Hologic, Inc., et al. which vacated the judgment of the U.S. Court of Appeals for the Federal Circuit that upheld assignor estoppel, and sent the case back to the Federal Circuit to consider whether the Hologic patent at issue contains claims that are materially broader than the claims of a patent issued to Minerva Surgical’s founder, and then assigned to a company that was later purchased by Hologic in 2007.

Minerva Surgical is pleased with the Supreme Court’s decision and believes, that as a result of this decision, patent holders who were assigned a patent by an inventor or assignor, will no longer be able to seek new patents with claims that are materially broader than those originally assigned to them, and then assert those new patents against the inventor or assignor, while avoiding judicial review of the new patent’s validity under the doctrine of assignor estoppel.

the U.S. Supreme Court issued a decision in Minerva Surgical, Inc. v. Hologic, Inc., et al. which vacated the judgment of the U.S. Court of Appeals for the Federal Circuit that upheld assignor estoppel.

At the rehearing, Minerva plans to show the Federal Circuit why there is no basis for applying assignor estoppel to bar Minerva from having its patent invalidity defenses heard on the merits. Regardless of the outcome of this case, Minerva Surgical is and will remain free to continue selling its novel Minerva ES Endometrial Ablation Device as the Hologic patent at issue expired in November 2018.

Minerva Surgical was represented by:

Robert N. Hochman, Caroline A. Wong, and Jillian Sheridan Stonecipher of Sidley Austin LLP
Vera M. Elson, Edward G. Poplawski, and Olivia M. Kim of Wilson Sonsini Goodrich & Rosati, P.C.

ABOUT MINERVA SURGICAL – THE UTERINE HEALTH COMPANY

Minerva Surgical is a commercial-stage medical technology company located in Santa Clara, California, focused on developing, manufacturing, and commercializing minimally invasive solutions to meet the distinct uterine healthcare needs of women. The company has established a broad product line of commercially available, minimally invasive products, which are designed to address the most common causes of abnormal uterine bleeding (AUB) in most uterine anatomies. The company’s solutions can be used in a variety of medical treatment settings and aim to address the drawbacks associated with alternative treatment methods and to preserve the uterus by avoiding unnecessary hysterectomies.

SOURCE: Minerva Surgical

MEDIA CONTACT

Mike Clapper
mike.clapper@minervasurgical.com
804-295-7676

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Dec 03

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Minerva Surgical Takes On Abnormal Uterine Bleeding (AUB) With Launch Of Uterine Care Kit

By Bryan Smith IR News

December 3, 2020

SANTA CLARA, Calif., Dec. 3, 2020 /PRNewswire/ — Minerva Surgical announced today the launch of a complete suite of minimally invasive devices and website to support healthcare practitioners in treating Abnormal Uterine Bleeding. One-third of outpatient visits to the gynecologist are for AUB, and AUB accounts for more than 70% of all gynecologic consults in the perimenopausal and post-menopausal years1. This common condition often results in a hysterectomy due to benign causes if not treated.

Hysterectomy is the second most common surgery performed on reproductive-age women in the U.S., after cesarean section. Nearly 68% of the 400,000 hysterectomies performed each year are due to benign conditions that involve abnormal uterine bleeding, uterine fibroids and endometriosis2.

1 in 3 women with AUB live below the 25th percentile in health-related quality of life (HRQoL)¹

The conservatively estimated annual costs of AUB were approximately $1 billion direct costs to women and $12 billion indirect costs to the community¹.

“AUB holds women hostage. Their personal and professional quality of life suffers significantly, and the financial burden is crushing,” said Dave Clapper, President & CEO, Minerva Surgical. “Our best-in-class devices are a leap forward in treatment, but we also commit to elevate awareness of AUB in our communities. We are excited to do our part to eliminate this horrible condition that too often results in unnecessary hysterectomies.”

Minerva Surgical, is comprised of a newly minted suite of minimally invasive tools: the Minerva Endometrial Ablation System, the fastest growing endometrial ablation product, Symphion™, the all-in-one tissue removal system that transforms the way physicians remove uterine fibroids, Genesys HTA™ Endometrial Ablation System, trusted for decades by physicians desiring visualization within the uterine cavity during treatment, and the Resectr™ device for the removal of endometrial polyps in the medical office setting.

“Healthcare practitioners and their patients are benefiting from these minimally invasive devices that drive down the cost of care for AUB. And now we can help them even more with a website that serves as an on-demand tool for AUB treatment and awareness information,” said Tom Pendlebury, Vice President of Sales & Marketing, Minerva Surgical.

Visit the new healthcare practitioner website at http://www.minervasurgical.com

ABOUT MINERVA SURGICAL

Minerva Surgical delivers one complete suite of devices that treat the root causes of Abnormal Uterine Bleeding (AUB). With a singular focus on minimally invasive intrauterine treatments, the company has been on the leading edge of significant technological advancements in gynecologic surgery. Minerva Surgical revolutionized the treatment of AUB with the introduction of its namesake product in 2015. The team at Minerva Surgical is wholly dedicated to the prioritization of women’s uterine wellness and the advancement of technologies to treat AUB. For more information visit: minervasurgical.com.

Media Image Asset Specific to Abnormal Uterine Bleeding Is Available: https://www.dropbox.com/s/0aj3yv56oany1ya/AUB%20pic.png?dl=0

SOURCE:

Minerva Surgical

MEDIA CONTACT

Mike Clapper
mike.clapper@minervasurgical.com
804-295-7676

INVESTOR RELATIONS CONTACT

Caroline Corner
investors@minervasurgical.com
415-202-5678

RELATED LINKS

May 12

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Minerva Surgical® Announces Acquisition Closing of Boston Scientific Intrauterine Health Products

By Bryan Smith IR News

May 12, 2020

SANTA CLARA, Calif., May 12, 2020 /PRNewswire/ — Minerva Surgical announced today, the closing of the acquisition of Boston Scientific’s Intrauterine Health franchise. Minerva’s combined product line will provide healthcare practitioners with the most complete and trusted product portfolio for treating Abnormal Uterine Bleeding (AUB). According to the American College of Obstetricians and Gynecologists, about one third of women seek treatment for heavy menstrual bleeding.1

The newly minted suite of minimally invasive tools combines the Minerva Endometrial Ablation System, the fastest growing endometrial ablation product, with the Genesys HTA™ Endometrial Ablation System, trusted for decades by physicians desiring visualization within the uterine cavity during treatment. Also included is Symphion™, the all-in-one tissue removal system that transforms the way physicians remove uterine fibroids, and the Resectr™ device for the removal of endometrial polyps.

“We are proud to have a complete product line to meet the needs of patients, whether treated in the physician’s office, ambulatory surgery center, or hospital setting,” said Eugene Skalnyi, M.D., Chief Medical Officer, Minerva Surgical. “The more effectively we treat the conditions that cause AUB, the more likely we are to achieve the objective of lowering the rate of hysterectomies for benign conditions, preserving the patient’s uterus, and positively impacting the patient’s quality of life and cost of care.”

Each year in the United States, more than 400,000 women undergo the surgical removal of their uterus. A study published in the American Journal of Obstetrics and Gynecology suggests that at least 80,000 of those hysterectomies may be unnecessary and/or could be avoided.2 Some physicians still choose to perform hysterectomies instead of safe and effective minimally invasive, organ-sparing options for the treatment of benign uterine conditions, such as fibroids and endometrial polyps.

“Minerva is now AUB’s worst nightmare,” said Dave Clapper, President & CEO, Minerva Surgical. “We are excited to do our part to eliminate this horrible condition that too often results in unnecessary hysterectomies.”

Focused exclusively on women’s uterine health, Minerva Surgical is dedicated to investments in the technological innovation and evolution of its AUB device portfolio. The goal is to stop AUB, before a hysterectomy is the only option, by providing health practitioners with a suite of the most advanced, minimally invasive treatment solutions in every setting, from the operating room to the physician office.

ABOUT MINERVA SURGICAL

Minerva Surgical revolutionized the treatment of Abnormal Uterine Bleeding (AUB) with the introduction of its namesake product in 2015. At the time of launch, Minerva was the first innovation in endometrial ablation in 15 years and is still the best performing product in the history of clinical trials conducted for FDA approval. Today’s Minerva system includes proprietary safety enhancements and software that measures changing uterine conditions in real time, an industry first. These features were designed exclusively for women’s comfort and safety. The team at Minerva Surgical is wholly dedicated to the prioritization of women’s uterine wellness and the advancement of technologies to treat AUB. For more information visit: endmyperiod.com.

American College of Obstetricians and Gynecologists. https://www.acog.org/patient-resources/faqs/gynecologic-problems/heavy-menstrual-bleeding. Accessed April 30, 2020.
American Journal of Obstetrics and Gynecology. https://www.sciencedirect.com/science/article/abs/pii/S0002937814023552. Accessed April 30, 2020.

SOURCE:

Minerva Surgical

MEDIA CONTACT

Mike Clapper
mike.clapper@minervasurgical.com
804-295-7676

INVESTOR RELATIONS CONTACT

Caroline Corner
investors@minervasurgical.com
415-202-5678

RELATED LINKS