MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Boston Scientific leads $40m round for NxThera

Boston Scientific leads $40m round for NxThera

By

NxTheraNxThera said today that Boston Scientific (NYSE:BSX) led a $40 million funding round for its Rezūm device, saying it plans to boost its sales footprint in the U.S. and Europe.

Existing backers Aberdare Ventures, Arboretum Ventures, GDN Holdings and The Ally Bridge Group also participated, Maple Grove, Minn.-based NxThera said.

The company said it also expanded a debt facility it took out from East West Bank.

NxThera won CE Mark approval in the European Union in August 2013 and added FDA approval 2 years later for the Rezūm device, which uses steam to reduce the size of the prostate to relieve urinary symptoms from benign prostate hyperplasia.

American Medical Systems, which Boston Scientific paid $1.6 billion for in August, 1st acquired a stake in NxThera in 2010.

“We are very pleased to have Boston Scientific join NxThera’s consortium of investors and continue the strategic investment first made by American Medical Systems,” president & CEO J. Robert Paulson Jr. said in prepared remarks. “This round of financing allows us to expand our support of urologists interested in offering their patients an innovative office-based treatment option, with the demonstrated ability to significantly alleviate the bothersome symptoms related to BPH while preserving erectile and ejaculatory function. We also intend to use a portion of these proceeds to fund ongoing product development and clinical studies to expand the application of our [convective water vapor energy] technology to treat men afflicted with prostate cancer.”

In March 2014, NxThera closed a $20 million Series C round that topped its initial $18 million target.

In case you missed it

RSS From Medical Design & Outsourcing

  • Micro to add plant in Costa Rica
    Contract manufacturer Micro today announced plans to open a new plant in Costa Rica. The 32,000 ft² facility will significantly increase Micro’s cleanroom assembly capacity, according to the Somerset, N.J.-based company. It will be located in the Zona Franca Metro business park and is expected to open in late 2021 with operations beginning in 2022.… […]
  • Survey shows solid medical device industry performance despite pandemic
    By Stewart Eisenhart, Emergo Group Medical device and IVD manufacturers report healthy performance over the course of 2020, but also faced significant operational and regulatory challenges related to the coronavirus pandemic. Get the full story here at the Emergo Group’s blog. The opinions expressed in this blog post are the author’s only and do not… […]
  • Cardinal Health wins $58M federal PPE contract
    Cardinal Health (NYSE: CAH) today said it has won a $57.8 million contract from the U.S. Dept. of Health and Human Services to support the Strategic National Stockpile. The Dublin, Ohio-based company received the contract, which includes options that if exercised by the HHS could reach $91.6 million, to store and distribute 80,000 pallets of… […]
  • Qosina adds single-use bioprocessing devices
    Qosina this week launched its product line for the single-use bioprocess industry. The new product line includes tube-to-tube bard connectors, luer fittings, check valves, tubing pinch clamps, tubing, steam thru connectors and more. Get the full story on our sister site, Medical Tubing + Extrusion. The post Qosina adds single-use bioprocessing devices appeared first on […]
  • Could BrainCheck’s simple test help COVID long-haulers?
    BrainCheck‘s eponymous mobile neurocognitive test can detect dementia and concussion. But it has a new application: post-COVID brain fog. Developed by neurologists at Baylor College of Medicine’s Eagleman Laboratory for Perception and Action, BrainCheck carries an FDA Class II Software as a Medical Device (SaMD) designation and can be used on a tablet or laptop… […]
  • XL Precision Technologies holding an April 28 webinar about laser tech
    XL Precision Technologies is holding an online webinar on April 28 at 8 a.m. Eastern time (1 p.m. U.K. time) about laser technology in medical device manufacturing. Register for the webinar here: https://bit.ly/XL-MER-Webinar2 Stockton-on-Tees, U.K.–based XL Precision Technologies provides laser welding, laser cutting of fine tubes and flat material and laser etching of components. It’s… […]
  • Medical device companies put $3.6 billion in docs’ pockets, study finds
    Medtech companies paid $3.62 billion for access to physicians — 10% more than drug companies did — from 2014 to 2017, according to new research. Device company payments to surgical specialists were significantly more tied to the surgeons’ Medicare billing than payments from drug companies to specialists, according to the study, which appears in the… […]
  • FDA slaps Class I label on rapid infuser recall
    The FDA today declared that the recall of an emergency infusion device kit is the most serious type. The recall covers three models of disposable sets made by Smisson-Cartledge Biomedical for its ThermaCor 1200 rapid infuser, which is used for fluid or bolus delivery. The system is made of a footswitch for hands-free fluid control,… […]
  • Cretex breaks ground on new plant north of Minneapolis
    Cretex Cos. last week broke ground on a new 245,000 ft2 medical device contract manufacturing plant in Brooklyn Park, Minn. Elk River, Minn.–based Cretex plans to complete facility construction by the end of the year. The company expects the facility by the end of 2022 to house its stamping, molding and tool design — and… […]
  • Resonetics to expand manufacturing in Costa Rica
    Resonetics announced today it has leased new manufacturing space in Costa Rica to more than double its production there. The space, in a building near its current site in the Coyol Free Zone business park in Alajuela, will be expanded and reconfigured to create a 45,000 ft² production site. The move comes after the company… […]
  • Are Black patients not getting LVADs as quickly as white patients?
    Researchers from the University of Missouri conducted a study that found disparities in treating Black and white patients with advanced heart failure. According to a news release, the study found that Black patients with advanced heart failure were more likely to receive a left ventricular assist device (LVAD) — a pump implanted into the chest… […]