US-based medical device firm NxThera secured a further $9m of funding on Tuesday to bring NxThera’s series B round to $21.6m.
The second part of the round was led by American Medical Systems (AMS), a medical device company owned by pharmaceutical corporation Endo, with participation from Japan-based corporate venturing unit Mitsui & Co. Global Investment, Premier Asia Capital, Prolog Ventures, Alafi Capital, together with angel investors.
AMS previously led the round’s first part, in March, which raised $12.6m. The initial part of the round was also led by AMS, with venture capital firms Arboretum Ventures and Aberdare Ventures, and healthcare advisory company GDN Holdings.
Aberdare and Arboretum were formerly investors in NxThera’s earlier rounds, which raised $7.2m in 2008 and 2009.
NxThera plans to invest the money in obtaining clearance from US and European regulatory agencies to conduct clinical trials for its Rezum treatment to combat cellular disease Hyperplasia in prostates, and to develop additional devices to treat urinary tract diseases.