Andera Partners Leads $20 Million Series D for Rivermark Medical's BPH Device Therapy
核心洞察
Andera Partners (搜索) led a $20 million Series D financing round for Rivermark Medical (搜索) to advance the FloStent System (搜索), a non-surgical, reversible device therapy for benign prostatic hyperplasia (搜索) (BPH (搜索)).
The funding will support the ongoing RAPID III pivotal clinical trial, regulatory approval in the United States, and commercial launch preparations for the FloStent (搜索) device.
The FloStent System (搜索) is designed as a first-line, office-based therapy that can be delivered during routine cystoscopy and easily retrieved or adjusted after implantation.
Andera Partners (搜索), a leading European venture capital and private equity firm, has led a $20 million Series D financing round for Rivermark Medical (搜索), Inc., a urology-focused medical device company developing innovative treatments for benign prostatic hyperplasia (搜索) (BPH (搜索)). The financing round also included participation from existing investors and an unnamed strategic investor.
The funding will support Rivermark's ongoing RAPID III pivotal clinical trial, regulatory approval efforts in the United States, and commercial launch preparations for the company's flagship FloStent System (搜索). The device represents a potential paradigm shift in BPH (搜索) treatment, offering a non-surgical, fully reversible first-line therapy option.
FloStent System Design and Clinical Approach
The FloStent (搜索) is designed to address lower urinary tract symptoms (搜索) associated with BPH (搜索) through a minimally invasive approach. The device can be delivered in an outpatient setting during routine cystoscopy using standard urological tools. A key differentiating feature is its reversibility - the FloStent can be easily retrieved or adjusted after implantation, preserving future treatment options for both patients and providers.
By combining a simple, office-based workflow with a tissue-preserving approach, Rivermark aims to make the FloStent (搜索) a widely available BPH (搜索) therapy. This approach targets what the company identifies as a significant gap in current treatment pathways, particularly for patients in earlier stages of the disease.
Clinical Evidence and Development Progress
The Series D financing follows positive multicenter outcomes from the RAPID II study, where the FloStent (搜索) demonstrated rapid recovery and a durable treatment effect through 24 months of follow-up. The company is now advancing the RAPID III pivotal clinical trial, which will be critical for regulatory approval in the United States.
"We welcome Andera Partners (搜索) as we continue working to bring a simple, non-surgical, reversible option to the millions of men seeking treatment for BPH (搜索)," said Adam Kadlec, MD, CEO and co-founder of Rivermark Medical (搜索). "Andera's support strengthens our ability to execute on RAPID III and prepare FloStent (搜索) for a successful commercial launch."
Market Opportunity and Investment Rationale
Aneta Sottil, Partner at Andera Partners (搜索), highlighted the unmet medical need in BPH (搜索) treatment: "BPH remains a significant unmet need, with many patients - particularly in earlier stages of the disease - unsure how to navigate the current treatment pathway. FloStent (搜索)'s very smart yet simple approach positions it as a compelling option for patients."
In conjunction with the financing, Sottil joined Rivermark Medical (搜索)'s Board of Directors, reflecting Andera Partners (搜索)' commitment to supporting the company's development and commercialization efforts.
Regulatory Status and Next Steps
The FloStent System (搜索) is currently classified as an investigational device, limited by Federal law to investigational use in the United States. The company's immediate priorities include completing the RAPID III pivotal trial and preparing regulatory submissions to achieve FDA approval.
Rivermark Medical (搜索) is backed by a consortium of investors including Andera Partners (搜索), American Century Investments (搜索), Clarevia Ventures (搜索), Time BioVentures (搜索), View Ventures (搜索), Cadence Healthcare Ventures (搜索), Anduril Investors LLC (搜索), and an unnamed strategic investor.