NxThera, Inc., a St. Paul, Minnesota-based medical device company developing an innovative and proprietary vapor ablation therapy to treat a variety of endourology conditions, beginning with benign prostatic hyperplasia (BPH), completed a $12.6m Series B equity financing.
The round was led by American Medical Systems, Inc., with participation from existing investors Arboretum Ventures, Aberdare Ventures and GDN Holdings.
The company intends 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 has also begun the process of seeking FDA approvals to undertake a second arm of the BPH clinical study in the U.S.
Led by president and CEO Bob Paulson, NxThera has developed a technology platform that utilizes a simple, minimally invasive, vapor therapy designed to measurably improve urinary flow and patient quality of life.
In conjunction with the financing, Glen D. Nelson, M.D., chairman of GDN Holdings and retired vice-chairman of Medtronic, Inc., joined the company’s board of directors.