Butterfly Medical Secures $21 Million in Upsized Series C Funding 

Butterfly Medical has completed a Series C funding round, raising $21 million from new and existing investors, including the European Innovation Council (EIC), Junson Capital, MedVenture and New Rhein Healthcare Investors.

“The success of this financing round, which exceeded our target, validates both the clinical potential and significant market opportunity for the Butterfly prostatic retraction device,” Butterfly Medical CEO Patrick MacCarthy stated. “With our pivotal trial now complete and U.S. regulatory filings underway, our focus is now on preparing for commercialization. We look forward to working with the FDA to provide men suffering from BPH with a new solution designed to improve their quality of life.”  

The company’s non-surgical solution for BPH (benign prostatic hyperplasia), which has already secured CE Mark approval for use in Europe, is designed to alleviate the common and debilitating symptoms of BPH, which affects a large and growing population of men globally. It is a minimally invasive, implantable solution that mechanically retracts the lateral lobes of the prostate to restore urine flow. This proprietary, anatomically designed mechanism is intended to restore and maintain natural urinary flow without the need for cutting, burning, or removing tissue, while also being fully reversible.

“We are impressed by both the quality of the team and the financial efficiency of Butterfly Medical’s development efforts, which have achieved a stage similar to other minimally invasive BPH solutions with less than half the capital,” said Nayan Parekh, Ph.D., managing partner at New Rhein Healthcare Investors and Butterfly Medical board chairman. “Based on the platform’s clinical data, ease of use, competitive COGS, and zero durable capital equipment, we are excited about the potential for this technology to achieve significant market adoption.”

Butterfly Medical is a medical device company reshaping the treatment of benign prostatic hyperplasia through its non-surgical solution. The company’s flagship product is designed to restore natural urinary flow to provide significant, long-term relief from BPH symptoms. The Butterfly Medical device is not yet approved in the U.S., and is limited by federal law to investigational use.