PROCEPT BioRobotics, a privately held medical device company based in Silicon Valley, announced today the closing of $42 million in a venture round of equity financing led by Novo A/S. New investor CPMG, Inc. and existing investors also participated in the round.
PROCEPT’s AquaBeam System combines image guidance and robotics to deliver Aquablation, a novel minimally invasive waterjet ablation therapy that enables targeted, controlled, and heat-free removal of tissue for the treatment of lower urinary tract symptoms.
PROCEPT will use the proceeds from the financing for a limited commercial launch of AquaBeam in targeted international markets and to conduct the WATER study (Waterjet Ablation Therapy for Endoscopic Resection of prostate tissue), a randomized blinded controlled clinical trial. PROCEPT has received conditional approval from the FDA for an investigational device exemption trial in the United States to evaluate the safety and effectiveness of Aquablation.