NxThera, Inc., a Maple Grove, Minnesota-based medical device company focused on the development of its proprietary and innovative water vapor endourology treatment platform, raised $18.2m in Series C financing.
Backers were not revealed.
The company, which also received the CE Mark for its Rezūm® System to treat benign prostatic hyperplasia (BPH), intends to use the funds to:
(i) conduct a U.S. clinical trial to seek FDA clearance to market its Rezūm System to treat BPH,
(ii) begin targeted, early commercialization of its Rezūm System in selected European countries in 2014, and
(iii) expand its applied research and feasibility studies to evaluate applications of its sterile water vapor technology to treat prostate cancer and kidney cancer.
Founded in 2008 and led by Bob Paulson, President and Chief Executive Officer, NxThera is developing the application of its sterile water vapor technology platform in a range of endourology conditions including BPH, prostate cancer and kidney cancer. Its platform enables the delivery of targeted, precise BPH treatments in an office-based procedure.
17/03/2011: NxThera Completes $12.6M Series B Equity Financing