Zenflow Announces $24 Million Financing Round to Fund FDA Filing & Commercial Preparation
Summary
The round includes new investor Cook Medical as well as existing investors Invus Opportunities, F-Prime Capital, Medical Technology Venture Partners and others.Funds will be used to support the companys Pre-Market Approval (PMA) submission and to prepare for commercialization upon FDA approval of its Spring\xae System, a minimally invasive treatment option for patients who suffer debilitating symptoms due to enlarged prostate. The Spring System was designed with the patient experience in mind and relies on a small spring-like coil to gently prop open the urethra, restoring its normal function while preserving the natural anatomy. The Spring System will provide men afflicted with BPH the patient-friendly treatment they deserve -- one that doesnt require tissue removal, ablation, or piercing of the prostatic tissue and allows for reversibility at the patient and physicians discretion.Zenflows strategic focus and commitment to building a solid foundation of clinical evidence has put us in a definitive position to advance towards PMA approval, said Shreya Mehta, CEO at Zenflow. The innovative Spring\xae technology was designed with the patient experience in mind and relies on a small spring-like coil that gently props open the urethra, restoring its normal function while preserving the natural anatomy. The Zenflow Spring System is an investigational device and is not approved for commercial sale.Since 1963, Cook Medical has worked closely with physicians to develop technologies that eliminate the need for open surgery.