Dublin-based medical device company ProVerum has raised $80 million in venture funding to advance the development of its minimally invasive stent designed to ease urinary symptoms associated with an enlarged prostate, or benign prostatic hyperplasia (BPH).
The company’s ProVee system features a low-profile nitinol frame intended to hold open the urethra without the need to cut, heat, or remove prostate tissue. ProVerum emphasizes that the implant is reversible, universally sized, and delivered via a video-guided system no larger than standard office-based endoscopes used in BPH diagnosis.
The Series B financing was led by MVM Partners, with participation from OrbiMed, the Ireland Strategic Investment Fund, Gilde Healthcare Partners, Lightstone Ventures, Atlantic Bridge, and Enterprise Ireland. Hugo Harrod of MVM Partners and Dina Chaya, Ph.D., of OrbiMed have joined ProVerum’s board.
Earlier this year, ProVerum presented data from a randomized, sham-controlled trial at the American Urological Association annual meeting in Las Vegas. The study, which involved 221 men over 45, met its primary and secondary endpoints, showing marked improvements in urine flow and prostate symptom scores.
Participants experienced more than a 125% average improvement in symptoms after three months compared with the control group, with no serious device- or procedure-related complications—including erectile dysfunction—reported over one year. Results were published in the AUA’s official journal.
ProVerum previously raised €30 million (approximately $35 million) in a Series A round in 2022, co-led by Gilde Healthcare Partners and Lightstone Ventures.
