ProVerum Raises $80M In Series B Round

The company develops the ProVee System, a minimally invasive treatment designed to relieve symptoms of benign prostatic hyperplasia (BPH) a common prostate condition affecting men as they age.

The $80 million Series B funding round was led by MVM Partners, with participation from OrbiMed and the Ireland Strategic Investment Fund (ISIF). Existing investors Gilde Healthcare Partners, Lightstone Ventures, Atlantic Bridge, and Enterprise Ireland also joined the round.

"I'm delighted to welcome MVM, OrbiMed and ISIF to the ProVerum team," said Paul Bateman CEO of ProVerum Ltd. "This is an exciting time for the company as we prepare to commercialize our novel treatment for men with BPH."

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ProVerum plans to use the funds to expand its operations and further develop its ProVee System, supporting continued innovation and clinical progress in treating benign prostatic hyperplasia (BPH).

MVM partner Hugo Harrod commented: "ProVerum exemplifies MVM's focus on disruptive medical products addressing areas of true unmet need. We look forward to applying our experience in commercial stage medical technology to support the Company through its next phase."  

Led by CEO Paul Bateman, ProVerum creates minimally invasive solutions for treating benign prostatic hyperplasia (BPH).

Its first product, the ProVee System, is an investigational device featuring a nitinol stent that gently reshapes the enlarged prostate to relieve urinary symptoms.

The stent is delivered using a flexible, steerable system with integrated imaging, matching the size of standard office-based endoscopes commonly used for BPH diagnosis.

The company has also welcomed Hugo Harrod, Partner at MVM Partners, and Dina Chaya, Partner at OrbiMed, to its Board of Directors.

About ProVerum

ProVerum is a medical equipment manufacturer specializing in minimally invasive technologies for treating benign prostatic hyperplasia (BPH). Their flagship product the ProVee System, offers an innovative, gentle solution to reshape the enlarged prostate and relieve urinary symptoms advancing patient care with cutting-edge medical devices.