NxThera Inc., a St. Paul, Minn.-based medical devices company, has added $12.6 million in Series B financing. American Medical Systems Inc. led the round, and was joined by existing investors Arboretum Ventures, Aberdare Ventures and GDN Holdings. NxThera is developing medical technologies to treat a variety of endourology conditions.
NxThera, Inc., a St. Paul-based, privately held medical device company developing an innovative and proprietary vapor ablation therapy to treat a variety of endourology conditions, beginning with benign prostatic hyperplasia (BPH), today announced completion of a $12.6 million round of Series B equity financing. The company plans to use this capital to initiate a pivotal BPH clinical study outside of the United States and to obtain CE mark approval needed to support the introduction of its product in the European Economic Area. NxThera also has begun the process of seeking appropriate FDA approvals to undertake a second arm of the BPH clinical study in the U.S.
American Medical Systems, Inc. (AMS) led this phase of NxThera’s Series B investment and was joined by the company’s existing investors, Arboretum Ventures, Aberdare Ventures and GDN Holdings.
“We are very pleased to have AMS, the global leader in world-class medical devices and therapies for male and female pelvic health, make this strategic investment in NxThera’s endourology vapor ablation platform and team,” noted Bob Paulson, president and chief executive officer of NxThera.
In connection with the Series B financing, Glen D. Nelson, M.D., chairman of GDN Holdings and retired vice-chairman of Medtronic, Inc., also joined the company’s board of directors.
In men, restrictions on the normal flow of urine from the bladder are caused by bladder obstructions, generally the result of BPH or bulbar urethral strictures. Symptoms of BPH include increased urination frequency, sudden urges to urinate, and weak urine flow. More than 70 percent of men over age 60 have some symptoms of BPH. NxThera is developing a novel therapy that delivers vapor directly to the prostate to reduce the tissue volume that causes these obstructions in a simple, office-based procedure designed to take only minutes, with minimal discomfort, and resulting in rapid and significant improvements in urine flow.
Max Fiore, senior vice president and chief technology officer of AMS, commented, “We believe NxThera’s vapor ablation platform is an exciting technology with the potential to become an efficient and effective outpatient solution that will significantly reduce procedure times with good patient outcomes. We look forward to working with the innovative team at NxThera.”
NxThera develops medical technologies to treat a variety of endourology conditions, including BPH. The company’s technology platform utilizes a simple, minimally invasive, vapor therapy designed to measurably improve urinary flow and patient quality of life. BPH afflicts more than 32 million men in the United States. For more information on NxThera, visit www.nxthera.com or call (651) 484-0219.