Rivermark Medical Secures $20 Million Series D to Advance FloStent BPH Device Toward U.S. Launch

New updates have been reported about Rivermark Medical.

Rivermark Medical, a private urology-focused device company, has raised $20 million in Series D funding led by Andera Partners, with participation from existing backers and a new strategic investor. The capital will finance the RAPID III pivotal clinical trial, support Rivermark’s push for U.S. regulatory approval, and fund commercial launch preparations for its flagship FloStent™ System for benign prostatic hyperplasia (BPH).

FloStent is designed as a non-surgical, fully reversible, first-line device therapy for men with lower urinary tract symptoms due to BPH, deployed in an outpatient setting during routine cystoscopy using standard urological tools. The device can be retrieved or adjusted after placement, preserving future treatment options and potentially positioning Rivermark as a differentiated player in the BPH treatment pathway.

The Series D follows positive multicenter RAPID II data, where FloStent showed rapid patient recovery and sustained symptom relief out to 24 months, strengthening the clinical rationale as the company moves into a pivotal study. CEO and co-founder Dr. Adam Kadlec said the financing bolsters Rivermark’s ability to execute RAPID III and build the infrastructure needed for a scalable U.S. launch strategy.

Andera Partners highlighted BPH as a sizable unmet market, particularly for earlier-stage patients who may be reluctant to undergo surgery or commit to long-term drug therapy, and described FloStent’s simple, tissue-sparing approach as a compelling fit for this segment. As part of the transaction, Andera partner Aneta Sottil joined Rivermark’s board, adding investor oversight and strategic guidance during the regulatory and commercialization phase.

For executives and investors, the round materially extends Rivermark’s runway through key value-inflection points: completion of the pivotal trial, regulatory filing, and initial launch planning in the United States. If RAPID III confirms prior outcomes and the device secures FDA clearance, Rivermark could capture share in the BPH market by offering a reversible, office-based option that fits existing urology workflows.

The financing also underscores continued investor appetite for differentiated, minimally invasive urology solutions, even as the FloStent remains an investigational device restricted to clinical use under U.S. law. Rivermark’s backer syndicate now includes Andera Partners alongside American Century Investments, Clarevia Ventures, Time BioVentures, View Ventures, Cadence Healthcare Ventures, Anduril Investors, and an undisclosed strategic partner, providing both capital depth and potential commercial-channel support.