Benzinga | Sep 21, 2020 06:01AM EDT

Axonics Receives Health Canada Approval of Implantable Neurostimulator

Axonics Modulation Technologies, Inc. (NASDAQ:AXNX), a medical technology company that has developed and is commercializing novel implantable sacral neuromodulation devices for the treatment of urinary and bowel dysfunction, today announced that Health Canada has approved its next generation rechargeable implantable neurostimulator (INS) for the Axonics r-SNM(r) System.

The next generation INS approved by Health Canada reduces how frequently a patient needs to recharge their implanted device to once a month for about one hour. Axonics received U.S. FDA approval for this version of its INS in April 2020. Health Canada previously approved the first generation Axonics r-SNM System in January 2017. Axonics is currently the only rechargeable SNM system available in Canada.