#United States #cancer therapy #Minneapolis #Francis Medical #Vanquish

Francis Medical Closes $80 Million Series C Funding

In a significant financial milestone, Francis Medical, Inc., a pioneering medical device company, recently completed an oversubscribed $80 million Series C equity financing. This funding round marks the largest for the company to date and aims to bolster its efforts in developing an innovative water vapor ablation therapy for treating prostate, kidney, and bladder cancers.

The funding was co-led by Arboretum Ventures and Solas BioVentures, with participation from Orlando Health Ventures and a few additional strategic partners. Existing investors such as Coloplast A/S and Tonkawa also contributed to this substantial investment. The proceeds will primarily support the VAPOR 2 pivotal clinical study, crucial for further advancing the proprietary Vanquish Water Vapor Ablation treatment for prostate cancer and its expected U.S. commercialization by late 2025.

David Strong, president and CEO of Orlando Health, expressed enthusiasm about the investment, highlighting the potential of the Vanquish therapy to revolutionize prostate cancer treatment. He noted its ability to ablate cancerous tissue safely while minimizing damage to surrounding nerves and healthy prostate tissue, which could significantly reduce complications often associated with more traditional therapies such as radical prostatectomy and radiation treatment.

The VAPOR 2 study is a prospective, multicenter, single-arm initiative assessing the efficacy and safety of the Vanquish Water Vapor Ablation System for prostate cancer treatment. Data from this study will support the 510(k) clearance, set to be filed by mid-2025. Following the promising results of its predecessor, the VAPOR 1 Early Feasibility Study, which reported no serious adverse effects, the company aims for an FDA breakthrough designation on the strength of the findings from the VAPOR 1 study, published in the Journal of Endocrinology in late 2022.

Prostate cancer is the second most common cancer in American men, with estimates suggesting one in eight men will be diagnosed during their lifetime, according to the American Cancer Society. Current treatments often lead to complications such as urinary incontinence and erectile dysfunction, which greatly affect the quality of life. In contrast, the Vanquish device employs a cutting-edge technology utilizing thermal water vapor energy that specifically targets cancerous cells, thereby aiming to minimize adverse side effects associated with conventional treatments.

Francis Medical's CEO, Michael Kujak, stated that this funding represents a crucial step in the battle against prostate cancer. He expressed excitement about the upcoming launch of their innovative therapy in the U.S. market, thanking their investor partners for their commitment to improving outcomes for prostate cancer patients. The goal is to position this groundbreaking technology as a first-line treatment option for men facing this daunting disease.

Commitment to Patient-Centric Care

Founded in honor of his late father, Francis Hoey, who tragically succumbed to prostate cancer in 1991 after enduring harsh treatments, Michael Hoey established Francis Medical. The company's mission is to develop urological cancer therapies that integrate effective solutions while being considerate of patients' quality of life. The water vapor technology employed by Vanquish is aimed explicitly at targeting cancerous cells through a minimally invasive transurethral procedure, thereby potentially reducing severe side effects.

The Vanquish Water Vapor Ablation System is currently classified as an investigational device for prostate cancer treatment. To learn more about the company and its commitment to revolutionizing cancer therapeutics, visit www.francismedical.com.

In a landscape dominated by daunting cancer statistics, innovations like those from Francis Medical could represent hope and healing for many.

For further inquiries, please contact Michael Kujak, CEO at 612-910-9790, or Shelli Lissick at Bellmont Partners, 651-276-6922.