Loading organizations...
§ Private Profile · Maple Grove, MN, USA
NxThera is a technology company.
NxThera develops medical devices specializing in minimally invasive therapies for urological conditions. Its flagship product, the Rezūm System, utilizes proprietary Convective Water Vapor Energy (WAVE) technology. This system generates sterile water vapor from radiofrequency energy to deliver targeted thermal treatments, effectively reducing symptoms associated with Benign Prostatic Hyperplasia (BPH), improving urinary flow, and enhancing patient quality of life.
The company was co-founded in 2008 by Michael Hoey, a prolific inventor and serial entrepreneur with a significant patent portfolio in medical device innovations. Hoey’s foundational insight stemmed from his development of the vapor platform technology, which NxThera was established to commercialize for a range of urological applications, beginning with the common male ailment of BPH.
The Rezūm System primarily serves men seeking treatment for BPH, offering a less invasive alternative to traditional surgical interventions. NxThera’s overarching vision was to continuously advance its unique vapor ablation platform, aiming to extend its therapeutic reach and address a broader spectrum of endourological conditions with its precise and effective treatment modality.
NxThera has raised $95.8M across 6 funding rounds.
NxThera has raised $95.8M in total across 6 funding rounds.
NxThera has raised $95.8M across 6 funding rounds. Most recently, it raised $40.0M Other Equity in December 2015.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 3, 2015 | $40M Venture Round | Boston Scientific | Aberdare Ventures, Ally Bridge Group, Arboretum Ventures, GDN Holdings | Announced |
| Aug 14, 2013 | $18.2M Series C | — | — | Announced |
| Oct 1, 2011 | $22M Series B | — | Arboretum Ventures, Perseverance Capital, Shane Neman | Announced |
| Mar 17, 2011 | $12.6M Series B | American Medical Systems | Aberdare Ventures, Arboretum Ventures, Glen D. Nelson | Announced |
| Nov 5, 2010 | $2M Venture Round | — | — | Announced |
| Aug 3, 2010 | $1M Venture Round | — | — | Announced |
NxThera has raised $95.8M in total across 6 funding rounds.
NxThera's investors include Boston Scientific, Aberdare Ventures, Ally Bridge Group, Arboretum Ventures, GDN Holdings, Perseverance Capital, Shane Neman, American Medical Systems, Glen D. Nelson.
NxThera is a medical technology company that developed the Convective Water Vapor Energy (WAVE) platform, including the FDA-cleared Rezūm System, a minimally invasive treatment for benign prostatic hyperplasia (BPH) using steam to deliver targeted thermal energy, improving lower urinary tract symptoms (LUTS), urine flow, and quality of life with minimal discomfort.[1][3][4] It serves urologists and patients with endourological conditions like BPH, prostate cancer, and kidney cancer, addressing problems such as painful symptoms, sexual dysfunction risks from traditional treatments (e.g., surgery or drugs), and high recovery times by enabling same-day procedures and quick return to normal activities.[1][4][5] The company showed strong growth, securing FDA clearance for Rezūm in 2015, expanding commercially in the US and Europe, and culminating in its 2018 acquisition by Boston Scientific for $306 million upfront plus up to $100 million in milestones, integrating it into a leading urology portfolio.[5]
NxThera was founded in June 2008 by Michael Hoey in Maple Grove, Minnesota, to pioneer water vapor technology for urology advancements.[4] Hoey, with a background in medical device innovation, drove the development of the WAVE platform starting with BPH treatments.[2][4] Key milestones included FDA clearance for the Rezūm System in August 2015, enabling in-office BPH procedures, followed by commercialization in the US and Europe, and leadership under CEO Bob Paulson, who highlighted partnerships like the Boston Scientific acquisition in 2018 as pivotal for broader access.[4][5]
NxThera rode the trend toward minimally invasive urology therapies, capitalizing on growing BPH prevalence (affecting millions of aging men) and demand for alternatives to pharmaceuticals with side effects or invasive surgeries.[1][5] Timing was ideal amid 2010s medtech shifts to outpatient procedures reducing costs and hospital stays, with market forces like rising healthcare efficiency pressures favoring quick-recovery innovations.[5][6] Its WAVE platform influenced the ecosystem by validating water vapor ablation, inspiring expansions to cancers (e.g., Francis Medical's Vanquish system targeting prostate/kidney/bladder), and strengthening Boston Scientific's dominance in urology/pelvic health post-2018 acquisition.[4][5]
Post-acquisition, NxThera's Rezūm technology continues scaling within Boston Scientific, with successor platforms like Francis Medical's pursuing FDA clearance for prostate cancer ablation by late 2025, promising fewer side effects than traditional options.[4] Trends in precision medtech, aging populations, and outpatient shifts will propel water vapor therapies, potentially expanding to global markets and broader endourological cancers.[1][4] Its legacy elevates minimally invasive BPH care, setting a benchmark for thermal energy innovations that prioritize patient quality of life from the outset.[5]