ProVerum, a Dublin-based medtech company, pulled in $80 million in fresh funding led by MVM Partners, which was accompanied by investors like OrbiMed and the Ireland Strategic Investment Fund. The Series B will help ProVerum advance its ProVee System, a solution intended to treat benign prostatic hyperplasia, or BPH.
The company’s treatment is minimally invasive, deployed through a flexible, steerable delivery system that includes integrated imaging. The tool is roughly the size of office-based endoscopes typically used to diagnose BPH. ProVerum will invest its latest capital raise in commercializing this technology.
“I’m delighted to welcome MVM, OrbiMed and ISIF to the ProVerum team,” Paul Bateman, CEO of ProVerum, said in a statement. “This is an exciting time for the company as we prepare to commercialize our novel treatment for men with BPH.”
