NxThera pioneered its Convective Water Vapor Energy (WAVE™) platform to treat endourological conditions, beginning with benign prostatic hyperplasia (BPH). Its lead product, the Rezūm System, uses radiofrequency energy to create sterile water vapor (steam) that delivers precise thermal treatments with minimal discomfort. Rezūm has shown improvements in lower urinary tract symptoms (LUTS), urine flow and quality of life and received FDA clearance in August. The company intends to use recent proceeds to expand sales of the Rezūm System across urology clinics, surgical centers, the U.S. and selected international markets. NxThera is furthering R&D to apply the WAVE platform toward treatments for prostate cancer and kidney cancer. The company was founded in 2008 and is led by president & CEO J. Robert Paulson, Jr., and is based in Maple Grove, Minnesota. NxThera develops and commercializes the Rezūm System, a sterile water vapor (steam) endourology platform that delivers targeted, office-based treatments for benign prostatic hyperplasia (BPH). The procedure is designed to be simple, take only minutes, cause minimal discomfort, and improve urine flow and quality of life. The company announced receipt of the CE Mark for Rezūm and an initial closing of an $18.2 million Series C financing. NxThera will use the Series C capital to conduct a U.S. pivotal clinical trial seeking FDA clearance, begin targeted early commercialization in selected European countries in 2014, and expand applied research and feasibility studies into prostate and kidney cancer applications of its steam technology. Founded in 2008 and based in Maple Grove, Minnesota, NxThera positions its sterile water vapor platform as applicable across multiple endourology conditions. NxThera develops a minimally invasive vapor ablation therapy platform intended to improve urinary flow and patient quality of life for endourology conditions, starting with BPH. The company is led by president and CEO Bob Paulson. NxThera completed a $12.6M Series B equity financing to support regulatory and clinical efforts. It intends to use the capital to initiate a pivotal BPH clinical study outside the United States and to obtain CE mark approval for introduction in the European Economic Area. The company has also begun the process of seeking FDA approvals to undertake a second arm of the BPH clinical study in the U.S. In conjunction with the financing, Glen D. Nelson, M.D., joined NxThera’s board of directors. NxThera is developing minimally invasive treatments for enlarged prostates by using vapor injections and thermal energy to kill prostate tissue. The company is based in St. Paul. According to SEC filings, NxThera recently raised $2 million through the sale of equity and warrants. Since last December the company has raised $4 million from the sale of equity, with investors including Arboretum Ventures, Aberdare Ventures and GDN Holdings. The article notes GDN Holdings is run by former Medtronic vice chairman Dr. Glen Nelson. CEO Robert Paulson previously led Restore Medical Inc., which Medtronic purchased in 2008 for nearly $30 million. NxThera is a St. Paul, Minn.-based startup developing ways to treat enlarged prostates by using vapor injections and thermal energy to kill tissue. The company raised $1 million through the sale of debt and convertible notes, according to a U.S. SEC filing. The SEC filing did not identify the purchasers. In December the company previously raised $3 million from investors including Arboretum Ventures, Aberdare Ventures and GDN Holdings. CEO Robert Paulson formerly led Restore Medical, which was acquired by Medtronic in 2008 for nearly $30 million. NxThera is pursuing a device-based approach to prostate-enlargement treatment and has supplemented development funding with both debt and convertible instruments.

Total raised

$74M

Funding rounds

8

Latest round

Equity

Latest activity

Dec 2015