Cook Medical invests in California urology-device company
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Cook Medical is leading a $24 million investment round to support a San Francisco-based medical-device startup developing a minimally invasive treatment for urinary conditions.
Bloomington-based Cook said Tuesday it led the Series C financing round for Zenflow Inc., a 10-year-old, private company with more than two dozen employees.
Cook did not say how much it contributed to the $24 million round, but called its participation a “strategic investment in the urology space.”
“This investment reflects our confidence in the Zenflow team and technology, as well as Cook’s ongoing commitment to support innovation that serves customer needs,” said D.J. Sirota, senior vice president of Cook Medical’s MedSurg division, in written remarks.
The funding round included participation from existing investors Invus Opportunities, F-Prime Capital, Medical Technology Venture Partners and others.
Zenflow is developing a minimally invasive treatment for urinary obstruction caused by enlarged prostate or benign prostatic hyperplasia. More than 40 million Americans suffer from BPH.
The company has developed a device it is calling the “Spring System,” which uses a small spring-like coil to gently prop open the urethra, restoring its normal function while preserving the natural anatomy, both companies said in a joint release.
“The Spring System will provide men afflicted with BPH the patient-friendly treatment they deserve—one that doesn’t require tissue removal, ablation, or piercing of the prostatic tissue and allows for reversibility at the patient and physician’s discretion,” Sirota said.
The funds will be used to support Zenflow’s pre-market approval submission to the Food and Drug Administration, as well as to prepare for commercialization.
“Zenflow’s 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, in written remarks. “The addition of Cook Medical’s expertise and partnership will bolster our ability to prepare for commercialization and we are thrilled to have their support.”