Andera Partners leads $20M Series D in urology startup Rivermark Medical
What's the deal? Andera Partners, a European venture capital and private equity firm, led US$12.9M Series D round in Rivermark Medical, a urology-focused medical device company developing a non-surgical treatment for benign prostatic hyperplasia (BPH). Existing investors and an unnamed strategic investor also participated.
The funds will support Rivermark's ongoing RAPID III pivotal clinical trial, push toward FDA approval in the US, and prepare for commercial launch of its flagship product, the FloStent™ System.
Why now? The round follows positive multicenter results from the RAPID II study, in which the FloStent demonstrated rapid recovery and a durable treatment effect through 24 months of follow-up. Those results give the company clinical momentum heading into its pivotal trial — the last major hurdle before seeking regulatory clearance.
BPH affects millions of men, and current treatment options leave many patients — particularly those in earlier stages — uncertain about how to proceed. Rivermark is betting that a simpler, office-based, fully reversible device therapy can fill that gap.
What could go wrong? The FloStent is still an investigational device. If the RAPID III trial doesn't deliver strong enough results, FDA approval could be delayed or denied. The medtech space is also competitive: established players and newer entrants are pursuing minimally invasive BPH treatments, which could complicate Rivermark's path to market share even if it clears regulatory hurdles.
The signal: This deal reflects continued investor appetite for medtech companies tackling large, underserved patient populations with less invasive approaches. BPH is a massive market — and the shift toward outpatient, tissue-preserving procedures aligns with broader healthcare trends favouring lower-cost, lower-risk interventions.
Andera partner Aneta Sottil joined Rivermark's board as part of the deal. "FloStent's very smart yet simple approach positions it as a compelling option for patients," she said.
Read more: anderapartners.com
