Zenflow, Inc., a medical device company developing a minimally invasive treatment for urinary obstruction caused by enlarged prostate, or benign prostatic hyperplasia (BPH), today announced that it has closed a $24 million Series B financing round. The funding was led by Invus Opportunities and included participation from F-Prime Capital, Medical Technology Venture Partners, Golden Seeds, Astia Angels, CloudStone Capital, SV Tech Ventures, and others.
Funds will be used to support the company’s pivotal clinical trial and ultimately lead to FDA clearance of its Spring® System, a minimally invasive treatment option for patients who suffer debilitating symptoms due to enlarged prostate. The innovative Spring technology was designed with the patient experience in mind and relies on a small spring-like coil to gently prop open the urethra, restoring its normal function while preserving the natural anatomy. Over 40 million patients suffer from BPH in the U.S. alone.
“The Zenflow Spring clinical trial data thus far demonstrates promising outcomes with respect to patient symptom relief, urinary flow rates, and preservation of sexual function,” said Dr. Claus Roehrborn, Professor and Chair, Department of Urology UT Southwestern Medical Center in Dallas, Texas. “Once proven further through its upcoming randomized clinical trial, the Zenflow Spring System is poised to become an appealing option for urologists seeking minimally-invasive solutions for lower urinary tract symptoms and BPH.”
“This investment reflects our continued confidence in the Zenflow team and technology, and we are excited to support this next phase of growth,” said Bryan Kim, Partner at Invus Opportunities. “The Spring System will provide men afflicted with BPH the patient-friendly treatment they deserve — one that doesn’t require tissue removal, ablation, or piercing of the prostatic tissue.”
Susan Stimson Joins as President
The company also announced the appointment of Susan Stimson as President. Ms. Stimson joins with over 25 years of experience in the development and commercialization of high-impact medical devices, most recently serving as Executive in Residence with KCK Group focusing on investment in commercial stage medical device companies. Prior to KCK, Ms. Stimson served as a founding team member of Intersect ENT, playing an instrumental role in the company’s evolution from R&D stage to a high-growth commercial business by building and leading a variety of its commercial and strategic functions from first product launch through the company’s initial public offering in 2014 and beyond as the company grew to more than $100 million in sales.
“Zenflow has a uniquely talented team that is strategically focused on its mission,” said Robert Weisskoff, Partner at F-Prime Capital and Zenflow Board Member. “The addition of Susan’s experience in building companies from this stage through commercialization and beyond will serve as a perfect complement to the talented Zenflow team.”
“Our mission is to provide lasting relief for men suffering from BPH symptoms by developing a minimally-invasive option that alleviates symptoms while preserving the natural anatomy,” said Nick Damiano, Co-Founder and CEO of Zenflow. “With the support of accomplished investors, our dedicated team, and the addition of a proven commercial leader, we are well-positioned to set the foundation to bring the Spring System to market.”