Calyxo announced that it closed a $50 million Series D financing round to support its CVAC aspiration system for kidney stone removal.
Avidity Partners led the round, with existing investors Questa Capital and CRG providing significant participation.
Pleasanton, California–based Calyxo’s CVAC system uses irrigation and aspiration to remove kidney stones. The design aims to minimize residual stone burden. CVAC has already been used to successfully treat more than 1,300 patients in the U.S.
The latest round of funding adds to the $32.7 million raised in a Series C round last year.
“We are excited about this round of funding which will further accelerate the company’s momentum,” said Calyxo president & CEO Joe Catanese. “Despite the challenging market conditions, we received strong support from investors who believe in our team, our mission and the promise of our CVAC technology. Our kidney stone treatment innovations will improve care for patients and have the opportunity to transform the way this condition is treated. We will use this capital to build commercial traction while maintaining investment in product development and clinical studies.”
Following the funding round, Avidity Partners’ Jacob Garfield joins Calyxo’s board of directors.
“We are proud to invest in Calyxo and its groundbreaking technology,” Garfield said. “Calyxo has an opportunity to alter the kidney stone treatment category and deliver a new generation of devices that can significantly improve care and comfort for millions of people afflicted by kidney stones. We look forward to working with the company’s leadership team as it seeks to accomplish its mission to provide a disruptive solution for a long-standing medical challenge.”
