Zenflow Announces $ 24 Million Funding Round; Appointed
SOUTH SAN FRANCISCO, Calif., June 02, 2021 (GLOBE NEWSWIRE) – Zenflow, Inc., a medical device company developing a minimally invasive treatment for urinary obstruction caused by enlarged prostate or benign hyperplasia of the Prostate (BPH), today announced that it has closed a $ 24 million Series B funding round. The funding was led by Invus Opportunities and included participation from F-Prime Capital, Medical Technology Venture Partners, Golden Seeds, Astia Angels, CloudStone Capital, SV Tech Ventures and others.
The funds will be used to support the company’s pivotal clinical trial and will ultimately lead to FDA clearance of its Spring.® System, a minimally invasive treatment option for patients who suffer from debilitating symptoms due to an enlarged prostate. The innovative Spring technology was designed with the patient experience in mind and relies on a small, spring-shaped coil to gently open the urethra, restoring its normal function while preserving the natural anatomy. Over 40 million patients suffer from BPH in the United States alone.
“Data from the Zenflow Spring clinical trial so far shows promising results in relieving patient symptoms, urinary output and preservation of sexual function,” said Dr. Claus Roehrborn, professor and chairman of the urology department at UT Southwestern Medical Center in Dallas, Texas. “Once further proven in its next randomized clinical trial, the Zenflow Spring System is fast becoming an attractive option for urologists looking for minimally invasive solutions for lower urinary tract symptoms and BPH. “
“This investment reflects our continued confidence in the Zenflow team and technology, and we are excited to support this next phase of growth,” said Bryan Kim, partner at Invus Opportunities. “The Spring System will provide men with BPH with the patient-friendly treatment they deserve, treatment that does not require tissue ablation, ablation or piercing of prostate tissue.
Susan Stimson joins as president
The company also announced the appointment of Susan Stimson as President. Ms. Stimson has over 25 years of experience in the development and commercialization of high impact medical devices, and most recently served as an executive in residence with the KCK Group, focusing on investing in medical device companies. at the commercial stage. Prior to KCK, Ms. Stimson was a member of the founding team of Intersect ENT, playing a pivotal role in the company’s evolution from the R&D stage to a high-growth business activity by creating and leading a variety of its business and strategic functions from the first product launch through the company’s initial public offering in 2014 and beyond, as the company reached more than $ 100 million in sales.
“Zenflow has a uniquely talented team that is strategically focused on its mission,” said Robert Weisskoff, partner at F-Prime Capital and member of the Zenflow board. “The addition of Susan’s experience building businesses from this stage to commercialization and beyond will serve as a perfect complement to the talented Zenflow team. “
“Our mission is to provide lasting relief to men suffering from symptoms of BPH by developing a minimally invasive option that alleviates symptoms while preserving natural anatomy,” said Nick Damiano, co-founder and CEO of Zenflow. “With the support of accomplished investors, our dedicated team and the addition of a proven business leader, we are well positioned to lay the groundwork for bringing the Spring system to market. “
Zenflow, Inc. is a privately held medical device company dedicated to improving the treatment of patients with urinary obstruction caused by an enlarged prostate. The company was founded by Biodesign Fellows at Stanford University working in conjunction with the world’s top urologists who, after witnessing patient frustration with existing treatment options, made it their mission to find a better solution. Innovative spring® The technology was designed with the patient experience in mind and is based on a small spring that gently opens the urethra, restoring its normal function while preserving the natural anatomy. The Zenflow Spring System is an experimental device and is not approved for commercial sale.
For more information, visit www.zenflow.com
About Invus Opportunités
Invus Opportunities is a sister fund of The Invus Group, an equity investment company founded in 1985 with permanent capital of over $ 8 billion. Invus Opportunities focuses on partnering with management teams and market-leading investors in private transactions on a global scale. With our differentiated heritage and starting capital, Invus Opportunities brings a complementary dimension to growing companies and investor groups seeking to create sustainable value. Invus Opportunities leads both fundraising rounds and co-invests in syndicated fundings, and currently manages over $ 2 billion.
About F-Prime Capital
F-Prime Capital is a global venture capital firm investing in healthcare and technology. Over the past 50 years, our independent venture capital group has had the privilege of supporting great entrepreneurs in the creation of revolutionary companies. With over $ 2 billion under management and a global portfolio of over 200 companies, we champion those dedicated to creating positive change in the world. F-Prime is headquartered in Cambridge, Massachusetts, with offices in London and San Francisco.