Procept BioRobotics, a Redwood Shores, Calif.-based surgical robotics company, raised $118m in an equity financing.
The round was led by new investor Viking Global Investors LP, with participation from new investor Perceptive Advisors and existing investors CPMG.
The company intends to use the funds to commercialize its Aquablation therapy for the minimally invasive treatment of benign prostatic hyperplasia (BPH).
Led by Nikolai Aljuri, Ph.D., chief executive officer, Procept BioRobotics develops a therapy for the treatment of Benign Prostatic Hyperplasia.
The AQUABEAM System, commercially available in the U.S., Canada, Australia, New Zealand and select European markets, is a surgical robot providing autonomous tissue removal for the treatment of BPH. The system combines real-time, multi-dimensional prostate imaging and surgical robotics to deliver Aquablation therapy – waterjet ablation that enables targeted, controlled, heat-free and immediate removal of prostate tissue.
Aquablation therapy is a minimally invasive technique that provides consistent, predictable and reproducible optimal outcomes with a low risk of sexual side effects.
Aljuri is also the principal architect of the AQUABEAM® System and its Aquablation technology.