The FloStent™ System Promises to Redefine the BPH Care Pathway.
Andera Partners, a leading European venture capital and private equity firm, today announced it led a $20 million Series D financing in Rivermark Medical, Inc., a urology-focused medical device company committed to redefining benign prostatic hyperplasia (BPH) treatment through simple, innovative solutions. The round also included participation from existing investors and an unnamed strategic investor.
Proceeds will be used to support the Company’s ongoing RAPID III pivotal clinical trial, achieve regulatory approval in the United States, and prepare for commercial launch of Rivermark’s flagship product, the FloStent™ System.
The FloStent is designed to be a non-surgical, fully reversible, first-line device therapy for men with lower urinary tract symptoms due to BPH. It can be delivered in an outpatient setting during a routine cystoscopy using standard urological tools and can be easily retrieved or adjusted after implantation, preserving future treatment options for patients and providers. By combining a simple, office-based workflow with a tissue-preserving approach, Rivermark aims to make FloStent™ a widely available BPH therapy.
The Series D follows prior positive multicenter outcomes from the RAPID II study, in which the FloStent demonstrated rapid recovery and a durable treatment effect through 24 months of follow-up.
“We welcome Andera Partners as we continue working to bring a simple, non-surgical, reversible option to the millions of men seeking treatment for BPH,” said Adam Kadlec, MD, CEO and co-founder of Rivermark Medical. “Andera’s support strengthens our ability to execute on RAPID III and prepare FloStent for a successful commercial launch.”
“BPH remains a significant unmet need, with many patients – particularly in earlier stages of the disease – unsure how to navigate the current treatment pathway,” said Aneta Sottil, Partner at Andera Partners. “FloStent’s very smart yet simple approach positions it as a compelling option for patients. We are excited to support the company as they advance FloStent toward FDA approval and widespread adoption.”
In conjunction with the financing, Aneta Sottil joined Rivermark Medical’s Board of Directors.
CAUTION: Investigational Device. The FloStent™ is limited by Federal (or United States) law to investigational use.