American Medical Systems joins consortium investing $12.6m in US-based peer NxThera.
Nasdaq-listed medical device maker American Medical Systems (AMS) has led the $12.6m series B round for US-based peer NxThera.
Venture capital (VC) firms Arboretum Ventures, Aberdare Ventures and GDN Holdings reinvested in the B round. The VCs had previously invested $6m in NxThera, according to news provider MedCity News.
Robert Paulson, executive president of NxThera, who formerly sold Restore to Medtronic for nearly $30m in 2008, said: "We are very pleased to have AMS, the global leader in world-class medical devices and therapies for male and female pelvic health, make this strategic investment in NxThera’s endourology vapour ablation platform [to treat prostrate problems] and team."
Max Fiore, senior vice president and chief technology officer of AMS, added: "NxThera’s technology [has] the potential to become an efficient and effective outpatient solution that will significantly reduce procedure times with good patient outcomes."
