PROCEPT BioRobotics, a Redwood Shores, Calif.-based medical device company, raised $42m in funding.
The round was led by Novo A/S with participation from CPMG and others.
The company intends to use the funds for a limited commercial launch of AquaBeam in targeted international markets and to conduct the WATER study (Waterjet Ablation Therapy for Endoscopic Resection of prostate tissue), a randomized blinded controlled clinical trial.
Led by Nikolai Aljuri, Ph.D., founder and chief executive officer, PROCEPT provides the AquaBeam System which combines image guidance and robotics to deliver Aquablation, a novel minimally invasive waterjet ablation therapy that enables targeted, controlled, and heat-free removal of tissue for the treatment of lower urinary tract symptoms.
The company has received conditional approval from the FDA for an investigational device exemption trial in the United States to evaluate the safety and effectiveness of Aquablation.