Zenflow announced over the past week that it has raised $24 million in a Series B round.
The South San Francisco, Calif.–based company — which has a minimally invasive treatment for urinary obstruction caused by an enlarged prostate — also appointed Susan Stimson as its president. Stimson was a founding member of ear, nose and throat medtech company Intersect ENT and most recently served as executive in residence with KCK Group.
Money from the new financing round will go toward a pivotal clinical trial meant to ultimately lead to FDA clearance of Zenflow’s Spring system, which uses a small spring-like coil to gently prop open the urethra.
“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, chair of the Department of Urology at UT Southwestern Medical Center in Dallas. “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.”
Invus Opportunities led the Series B, which also included F-Prime Capital, Medical Technology Venture Partners, Golden Seeds, Astia Angels, CloudStone Capital, SV Tech Ventures and others. Zenflow previously raised $31 million from a Series A in 2018.