Maple Grove, United States
Francis Medical is a Minnesota-based startup focused on developing minimally invasive treatment solutions for prostate, kidney, and bladder cancer utilizing convective thermal water vapor. The company, established in 2018, is currently in clinical trials for ablating cancerous prostate tissue. After being created post Boston Scientific's acquisition of NxThera, Inc., Francis Medical, Inc. (formerly NxPhase Medical, Inc.) operates as a separate entity with a license from Boston Scientific to utilize convective vapor ablation technology for cancer treatment. The rebranding to Francis Medical is a tribute to founder Michael Hoey's father, Francis Hoey, whose battle with prostate cancer inspired the endeavor.
In December 2018, the company successfully completed an $18.0 million Series A financing round. Subsequently, in September 2021, Francis Medical secured a substantial $55 Million Series B Equity Financing with participation from notable investors including Arboretum Ventures, Solas BioVentures, Coloplast, Tonkawa Investments, and H2Oey Ventures. This recent funding is indicative of the market's confidence and support for the company's innovative cancer treatment approach.
Francis Medical's focus on revolutionizing cancer treatment, along with its successful fundraising efforts, positions the company as a promising player in the healthcare startup landscape. The combination of advanced medical technology and significant financial backing further underscores its potential to make a meaningful impact in the fight against cancer.
