Francis Medical is dedicated to providing a solution to cure endourological cancers. Francis Medical is focused on creating a minimally invasive treatment solutions for prostate, kidney, and bladder cancer through the use of convective thermal water vapor. Currently, the company is in clinical trials for tissue ablation of the prostate. Founded in 2018, Francis Medical is located in Maple Grove, Minnesota.
Francis Medical, Inc. formerly named NxPhase Medical, Inc. is a company that was created after Boston Scientific (BSC) acquired NxThera, Inc. in April of 2018.
As a part of the BSC/NxThera transaction, a separate and independent entity, NxPHASE Medical, Inc. (“NxPHASE”), was established, and shares of NxPHASE were distributed to the shareholders of BSC/NxThera. In addition, BSC/NxThera granted NxPHASE a license to utilize BSC/NxThera’s convective vapor ablation technology to develop, evaluate and commercialize certain devices to treat prostate, kidney and bladder cancer (“NxPHASE Field of Use”), while BSC/NxThera remains focused on the treatment of benign prostatic hyperplasia.
Late in 2018, NxPhase Medical, Inc. went through a rebranding process and selected Francis Medical, Inc. as it’s new brand and identity. The name and foundation of the company is a tribute to and legacy for Michael Hoey’s (founder/inventor) father Francis Hoey whose life was ended by prostate cancer with treatments that had harsh implications on his normal daily living. In December 2018, Francis Medical completed an $18.0 million round of Series A financing.
Francis Medical, Inc. formerly named NxPhase Medical, Inc. is a company that was created after Boston Scientific (BSC) acquired NxThera, Inc. in April of 2018.
As a part of the BSC/NxThera transaction, a separate and independent entity, NxPHASE Medical, Inc. (“NxPHASE”), was established, and shares of NxPHASE were distributed to the shareholders of BSC/NxThera. In addition, BSC/NxThera granted NxPHASE a license to utilize BSC/NxThera’s convective vapor ablation technology to develop, evaluate and commercialize certain devices to treat prostate, kidney and bladder cancer (“NxPHASE Field of Use”), while BSC/NxThera remains focused on the treatment of benign prostatic hyperplasia.
Late in 2018, NxPhase Medical, Inc. went through a rebranding process and selected Francis Medical, Inc. as it’s new brand and identity. The name and foundation of the company is a tribute to and legacy for Michael Hoey’s (founder/inventor) father Francis Hoey whose life was ended by prostate cancer with treatments that had harsh implications on his normal daily living. In December 2018, Francis Medical completed an $18.0 million round of Series A financing.
Location: United States, Minnesota, Maple Grove
Employees: 11-50
Phone: +1 763-951-0370
Total raised: $153M
Founded date: 2018
Funding Rounds 3
| Date | Series | Amount | Investors |
| 09.01.2025 | Series C | $80M | - |
| 15.09.2021 | Series B | $55M | - |
| 13.12.2018 | Series A | $18M | - |
Mentions in press and media 17
| Date | Title | Description |
| 11.01.2025 | Уничтожение рака простаты с использованием струи пара | Рак простаты обычно побеждают хирургическим путем и/или лучевой терапией, но у обоих методов могут возникнуть побочные эффекты. Клиническое исследование изучает безопасность и эффективность уничтожения рака простаты струей пара. Клиническое... |
| 09.01.2025 | Francis Medical: $80 Million (Series C) Raised To Develop Water Vapor Ablation Therapy For Treating Cancer | Francis Medical – a privately-held medical device company developing an innovative and proprietary water vapor ablation therapy for the treatment of prostate, kidney, and bladder cancer- announced the completion of the company’s oversubscri... |
| 07.01.2025 | Francis Medical Closes $80M Series C Equity Financing | Francis Medical, Inc., a Minneapolis, MN-based medical device company, raised $80M in Series C equity funding. The round was led by Arboretum Ventures and Solas BioVentures with participation from Orlando Health Ventures and two additional ... |
| 20.09.2021 | Digital health news, funding roundup in the prior week; September 20 | Biden administration seeks to expand telehealth; BetterUp acquires Motive and Impraise Biden administration seeks to expand telehealth in rural America. New funding will allow more medical appointments to take place via video in rural commu... |
| 18.09.2021 | Daily funding roundup - September 18th, 2021 | Francis Medical raised $55M; CodeSignal landed $50M; Ketch secured $23M; Roboflow picks up $20M Whatnot: Whatnot is a L.A.-based startup that hosts live-streamed video sales and auctions of Pokemon cards and other collectibles. Whatnot has ... |
| 17.09.2021 | Daily funding roundup - September 17th, 2021 | Francis Medical raised $55M; CodeSignal landed $50M; Ketch secured $23M; Roboflow picks up $20M Whatnot: Whatnot is a L.A.-based startup that hosts live-streamed video sales and auctions of Pokemon cards and other collectibles. Whatnot has ... |
| 16.09.2021 | Francis Medical Raises $55M in Series B Equity Funding | Francis Medical, a Minneapolis MI-based medical device company, raised $55M in Series B equity funding. The round was led by Solas BioVentures with participation from Arboretum Ventures, Coloplast A/S, H2Oey Ventures and Tonkawa. The compan... |
| 16.09.2021 | Goldman Sachs dives into fintech’s latest trend with GreenSky | This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox. Goldman Sachs’ push into consumer banking is endlessly fascinating. The banking giant was not a h... |
| 16.09.2021 | Goldman Sachs dives into fintech’s latest trend with GreenSky | This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox. Paid Content How hard work and meaningful relationships fuel Bridgewater Associates’ success From... |
| 15.09.2021 | Full steam ahead: Francis Medical heats up with $55M for vapor ablation tech to treat prostate cancer | Francis Medical’s thermal water vapor ablation technology is picking up steam—literally and figuratively. The technology heats sterilized water into steam, which is then directed at tumors via a catheter to kill only cancerous cells while p... |
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