Rivermark Medical Raises $20 Million Series D for BPH FloStent System
Rivermark Medical, a urology-focused medical device company based in Milwaukee, has closed a $20 million Series D financing round led by Andera Partners, with participation from existing investors and an unnamed strategic investor. The proceeds will be used to support the company’s ongoing RAPID III pivotal clinical trial, achieve regulatory approval in the United States, and prepare for the commercial launch of its flagship product, the FloStent System.
The FloStent is designed as a non-surgical, fully reversible, first-line device therapy for men with lower urinary tract symptoms due to benign prostatic hyperplasia (BPH). The device can be delivered in an outpatient setting during a routine cystoscopy using standard urological tools and can be retrieved or adjusted after implantation, preserving future treatment options for patients. By combining an office-based workflow with a tissue-preserving approach, Rivermark aims to make FloStent a widely available BPH therapy. The Series D follows positive multicenter outcomes from the prior RAPID II study, in which the FloStent demonstrated rapid recovery and a durable treatment effect through 24 months of follow-up.
Adam Kadlec, MD, CEO and co-founder of Rivermark Medical, stated that the company is working to provide a simple, non-surgical, reversible option to men seeking BPH treatment. “Andera’s support strengthens our ability to execute on RAPID III and prepare FloStent for a successful commercial launch,” he said.
Aneta Sottil, Partner at Andera Partners, noted that BPH remains a significant unmet need, with many patients unsure how to navigate the current treatment pathway. “FloStent’s very smart yet simple approach positions it as a compelling option for patients,” she said. “We are excited to support the company as they advance FloStent toward FDA approval and widespread adoption.” In conjunction with the financing, Sottil has joined Rivermark Medical’s board of directors.
