Trod Medical NV/SA, a Leuven, Belgium-based medical device company, completed a €4.75m Series B financing.
The round was co-led by Vesalius Biocapital (through its Vesalius Biocapital II Arkiv N.V. Fund) and Capricorn Venture Partners (through its Capricorn Health-tech Fund), with participation from Gemma Frisius Fund, the spin-off fund of the University of Leuven (Belgium) and the Flemish investment company PMV (through its healthcare fund FCI). In conjunction with the financing, Frank Bulens (Capricorn Venture Partners) and Stéphane Verdood (Vesalius BioCapital) joined Trod’s Board of Directors.
The company intends to use the funds to perform clinical studies in both Europe and the US to further validate the EncageTM technology for the focal treatment of prostate cancer.
Established in 2006 by CEO Andre Faure, Trod Medical developd and commercializes a radio frequency based technology called EncageTM, which allows very precise soft tissue ablation, including cancer spots in the prostate.
The first patients were successfully treated in a pilot study.
As part of the deal, the company relocated to Leuven (it also has USA headquarters in the Tampa Bay area) and will enter into a collaboration with the Medical Imaging Research Center (MIRC), an interdisciplinary research center in the University Hospitals Leuven, campus Gasthuisberg.