Francis Medical, Inc., a Minneapolis, MN-based medical device company, raised $80M in Series C equity funding.
The round was led by Arboretum Ventures and Solas BioVentures with participation from Orlando Health Ventures and two additional strategic partners, along with previous investors Coloplast A/S and Tonkawa.
Led by CEO and President Michael Kujak, Francis Medical is committed to developing urological cancer treatments that are tough on cancer and gentle on patients, with a compassionate belief that minimally invasive therapies can effectively treat cancerous tissue.
The company intends to use the funds to accelerate the VAPOR 2 pivotal clinical study for the management of prostate cancer and the development and U.S. commercialization of its Vanquish Water Vapor Ablation proprietary prostate cancer treatment, expected by the end of 2025.
The VAPOR 2 study is a prospective, multicenter, single-arm study that is evaluating the safety and efficacy of the Vanquish Water Vapor Ablation System for prostate cancer. Data gathered from the VAPOR 2 study will support 510(k) clearance, which Francis expects to file for in July 2025. Previously, the company was awarded FDA Breakthrough Device status for Vanquish on the strength of its VAPOR 1 Early Feasibility Study, published in the Journal of Endocrinology in November 2022. The VAPOR 1 study reported no serious adverse events, no device-related adverse events, and no unanticipated adverse device effects as its primary endpoint. In 87% of patients treated, six-month biopsy results indicated no remaining Gleason Grade Group 2 or greater clinically significant disease in the targeted treatment areas.
FinSMEs
07/01/2025