NxThera adds $6m for Rezūm prostate device

NxThera said this week that it added another $6 million to its coffers in an ongoing round of debt financing.

The Maple Grove, Minn.-based company is offering convertible promissory notes and Series C preferred stock warrants in the round, according to the filing, with the first sale logged Jan. 13.

NxThera said it’s looking to raise an additional $5.8 million in the round, taking the total hoped-for raise from $15 million to $26.4 million.

In Dec. 2015, Boston Scientific (NYSE:BSX) led a $40 million funding round for NxThera and its Rezūm device, saying it plans to boost its sales footprint in the U.S. and Europe.

Backers Aberdare Ventures, Arboretum Ventures, GDN Holdings and The Ally Bridge Group also participated, NxThera said at the time.

NxThera won CE Mark approval in the European Union in August 2013 and added FDA approval two years later for the Rezūm device, which uses steam to reduce the size of the prostate to relieve urinary symptoms from benign prostate hyperplasia. The company closed a $20 million Series C round in March 2014.

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