Oncology device developer BioProtect has raised $3.5 million to support the development of its BioProtect minimally invasive balloon implant designed to reduce rectal toxicity during prostate cancer radiation therapy.

BioProtect’s biodegradable balloon implant is indicated for prostate cancer patients undergoing radiation therapy. The device is designed to separate the prostate and rectum to allow physicians to radiate prostate tumors and spare healthy rectal tissue, according to the company’s site.

The company said the device has won CE Mark clearance in the European Union and is available in the region. BioProtect is valued at $20 million, according to a Globes report

“BioProtect’s technological platform is very flexible and can be adapted to other medical applications and procedures that create added value for the company because there is no need for other development expenses. Also in products based on the balloon that we have developed hundreds of successful procedures have been performed on patients so that it has been proven beyond doubt that the product is safe and effective in treating various medical problems,” founder & CEO Shaul Shohat said, according to a Globes report.