Urological cancer treatment developer Francis Medical announced today that it received a $4 million equity investment from Coloplast (CPH:COLO-B).
Minneapolis-based Francis Medical develops ablation technology designed to apply thermal energy stored in sterile water vapor to deliver targeted treatments to the cancerous tissue in a transurethral procedure, according to a news release.
The procedure potentially minimizes the side effects often experienced with other prostate cancer treatments, the company said. A U.S. early feasibility study is currently underway to develop the safety and efficacy of the technology after Francis Medical received FDA investigational device exemption in late 2019.
“We’re excited to bring on Coloplast, a strong company with deep experience in urology, as another strategic investor to help us continue developing urological cancer treatments that are tough on cancer, yet gentle on patients,” Francis Medical president & CEO Mike Kujak said in the release. “The investment also aligns well with the strategic direction of Coloplast’s interventional urology business, to bring innovative solutions to the urology market.”
Humlebaek, Denmark–based Coloplast’s interventional urology segment develops technology used in surgical procedures in urology and gynecology, including prostate catheters, stents, vaginal slings used to restore continence, mesh products used to treat weak pelvic floor and penile implants for men experiencing severe impotence.
“Coloplast interventional urology is focused on bringing solutions to our existing customers in urology and gynecology,” Coloplast president of interventional urology Steve Blum said. “Most of our existing urologist customers also see patients with prostate cancer, so we’re pleased to invest in a company dedicated to developing innovative and life-saving cancer treatments.”
