The Minnesota-based company is developing a drug-coated balloon catheter designed to treat urethral strictures in men. Urotronic’s latest fundraising efforts come on the heels of a $6 million offering that closed in July.
Earlier this year, Urotronic won approval in Canada to begin treating people with urethral strictures using its Optilume device. Strictures, which can be caused by infections or trauma, block the path that urine takes to leave the body and can result in a slowing of the urinary system.
Urotronic’s device uses balloon dilation and an anti-proliferative drug to prevent blockages from recurring. In clinical trials, the Optilume device has succeeded in opening blockages and stopping the formation of scar tissue, according to Urotronic.
In April, the FDA approved a 200-patient investigational device exemption trial for Optilume that is slated to begin enrolling participants immediately.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.