Tele: 561.316.3330
Breaking Medical Device News

Friday, October 15, 2021
HomeFrancis Medical Launches with $18M Series A Funding for Promising Cancer Ablation...

Francis Medical Launches with $18M Series A Funding for Promising Cancer Ablation Technology Using Water Vapor

December 13, 2018

Francis Medical, Inc., is a Minneapolis-based, privately held medical device company developing an innovative and proprietary vapor ablation therapy to treat a variety of endourology cancers, beginning with Prostate Cancer (PCa). Today the company announced the completion of a $18.0 million round of Series A financing. Arboretum Ventures led the Series A with co-investments from H2Oey Ventures, an affiliate of Solas BioVentures Fund, Tonkawa and Boston Scientific. The company plans to use this capital to initiate further development.

Early feasibility clinical trials in the Dominican Republic, Paraguay and Panama led to the initial $18M in Series A funding. “This investment will support additional international clinical work, followed by a US IDE pilot study in late 2019,” said Michael Kujak, president and chief executive officer, Francis Medical. “Our goal is to move quickly to expand the potential of cancer ablation by water vapor as a vital, non-invasive treatment for prostate cancer as-well-as for kidney and bladder cancers.”

Francis Medical reported the announcement of Michael Kujak as CEO will expedite the formation of Francis Medical and the upcoming product development and clinical work. Kujak has broad global healthcare experience, having spent 30 years in growing leadership positions within medtech. His recent past successes include developing and commercializing innovative medical procedures to treat benign prostate hyperplasia (BPH) at American Medical Systems and NxThera.

Michael Hoey, founder of Francis Medical, and its chief technology officer, is a successful serial inventor and entrepreneur. His most recent success being NxThera which was purchased by Boston Scientific for $306M upfront plus up to $100M additional maximum milestones. Hoey pioneered the use of thermal water vapor to ablate tissue, a minimally-invasive treatment that delivers targeted, controlled doses of stored thermal energy in the form of water vapor directly to the tissue. “Based on the success of initial clinical trials, we are confident that cancer ablation by water vapor will be an effective, next-generation treatment for prostate cancer without the unwanted side effects of urinary incontinence and erectile dysfunction which are associated with radical prostatectomies,” said Hoey. “We foresee this technology as a true minimally invasive breakthrough that will improve quality of life and expand the cancer treatment options available today for patients suffering from prostate, bladder and kidney cancers.”

Medical Device News Magazine
Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

Stay Connected


Don't Miss

Ganymed Robotics Awarded a €2.5M Grant from the EC through the EIC Accelerator Program

Ganymed Robotics is developing a radically new approach to surgical robotics by combining computer vision, a branch of artificial intelligence, and mechatronics.

Global Healthcare Exchange Announces Acquisition of Explorer Surgical

Explorer Surgical will operate as a wholly-owned subsidiary of GHX.

Arlington Scientific Broadens Product Portfolio and Further Expands its Product Offering Through the acquisition of Non-Mammalian Blocking Buffers

Arlington Scientific, Inc. (ASI) is pleased to announce that it has acquired the non-mammalian blocking buffer product line from Clark McDermith, former owner of...

Laborie Medical Technologies Acquires Pelvalon

Laborie was represented by Piper Sandler (financial advisor) and Simpson Thacher & Bartlett LLP (legal advisor). Pelvalon was represented by J.P. Morgan Securities LLC (financial advisor) and Dorsey & Whitney LLP (legal advisor).

Herculite Products, Inc. Promotes Two Employees to New Roles

Paul Flaherty Chief Strategy Officer and Marco Angelone is being promoted to the role of Chief Financial Officer.

Prof. Joseph Kvedar Added to the Sweetch Advisory Board Member

Prof. Josdeph Kvedar is the current chair of the board at the American Telemedicine Association (ATA), formerly VP of Connected Health at Mass-Gen Brigham, co-chair of the American Medical Association (AMA) Digital Medicine Payment Advisory Group, and author of The Internet of Healthy Things and The New Mobile Age.

Sid Bala Named President of HealthChampion

Sid Bala is the former president and chief executive officer of alligatortek, a custom software applications company that was acquired by HealthChampion in 2020 where he led them for 27 years after he founded the business

Cochlear Announces FDA Approval and Clearance of first-of-its-kind Remote Care Capabilities for Nucleus and Baha Systems

The FDA approval for the cochlear implant solution and FDA clearance for the Baha solution is the first step in commercializing the product offering, anticipated spring 2022, and complement Cochlear's existing Remote Care offerings.

By using this website you agree to accept Medical Device News Magazine Privacy Policy