The Venture Codex

Led · Series C · Oct 2024

Rivermark Medical develops the FloStent, a minimally invasive, fully reversible urethral stent intended as a first-line device therapy for men with urinary symptoms from benign prostatic hyperplasia. The FloStent is designed for outpatient placement during routine cystoscopy using standard urology tools and can be removed or adjusted after implantation to preserve future treatment options. Rivermark reported positive results from a multicenter RAPID II study showing rapid recovery and durable benefit at 24 months. The company is conducting a pivotal RAPID III clinical trial and is pursuing U.S. regulatory approval and commercial launch. Financially, Rivermark raised $20 million in a Series D led by Andera Partners to support the pivotal trial, regulatory submissions, and launch preparations. Aneta Sottil of Andera joined the company’s board as part of the financing. The FloStent is currently an investigational device limited to experimental use under U.S. federal law.