Bildnachweis: Rivermark Medical.
Andera Partners has led a 20 million USD Series D financing round in Rivermark Medical, underscoring continued investor confidence in minimally invasive therapies for benign prostatic hyperplasia (BPH). The financing round, which also drew participation from existing investors and an undisclosed strategic investor, is intended to accelerate the development and commercialisation of the company’s FloStent™ System.
Headquartered in Milwaukee, Wisconsin, Rivermark Medical is focused on transforming the treatment paradigm for men suffering from lower urinary tract symptoms associated with BPH. The company’s flagship FloStent™ device has been developed as a non-surgical, fully reversible first-line therapy designed for use in an outpatient setting during a standard cystoscopy procedure. Unlike more invasive interventions, the system can be repositioned or removed following implantation, thereby preserving future treatment options for both physicians and patients. The fresh capital injection will primarily support the ongoing RAPID III pivotal clinical trial, regulatory submissions in the United States, and preparations for the anticipated commercial launch of the FloStent™ platform. „We welcome Andera Partners as we continue working to bring a simple, non-surgical, reversible option to the millions of men seeking treatment for BPH,“ said Adam Kadlec, MD, CEO and co-founder of Rivermark Medical. „Andera’s support strengthens our ability to execute on RAPID III and prepare FloStent for a successful commercial launch.“
Positive data from RAPID II study
The financing follows positive multicentre data from the RAPID II study, where the FloStent™ System demonstrated both rapid patient recovery and sustained therapeutic benefit over a 24-month follow-up period. Against a backdrop of rising demand for less invasive urological interventions, Rivermark is positioning its technology as a potentially accessible office-based solution for the large and growing BPH patient population. For Andera Partners, the transaction reflects a broader investment thesis centred on high-impact medtech innovations addressing significant unmet clinical needs.
“BPH remains a significant unmet need, with many patients – particularly in earlier stages of the disease – unsure how to navigate the current treatment pathway. FloStent’s very smart yet simple approach positions it as a compelling option for patients. We are excited to support the company as they advance FloStent toward FDA approval and widespread adoption”, said Aneta Sottil, Partner at Andera Partners. As part of the transaction, Sottil has joined Rivermark Medical’s Board of Directors, further strengthening the strategic partnership between investor and company as Rivermark advances towards potential market entry. The FloStent™ System remains an investigational device and is currently limited by US federal law to investigational use only.
