ProstimRx Corp., a Hendersonville, Tenn.-based developer of medical devices for the treatment of prostate-related disorders, has raised $5 million from M.D. Venture Partners.
M.D. Venture Partners, a healthcare technology venture capital firm, is pleased to announce an equity investment of $5 million dollars into ProstimRx Corporation of Hendersonville, Tennessee.
ProstimRx pioneered the development of a patented medical device and process for the treatment of prostate-related disorders. This process and equipment has been successfully used in over 10,000 clinical cases for the treatment of prostatitis, benign prostate hypertrophy (“BPH”), erectile dysfunction and other diseases associated with the prostate, including lower urinary tract symptoms (“LUTS”), infertility, and male sexual dysfunction.
The Company holds an exclusive and perpetual license to the U.S. patent on the medical device. The potential for the ProstimRx treatment process and medical device is vast as prostate disease and dysfunction is one of themost widespread medically related problems seen in the healthcare industry today. ProstimRx will augment or replace the current treatment of antimicrobial therapy, whichmost often does not adequately treat the underlying problems and which have associated side effects. In addition, ProstimRx has been successfully used in the treatment of male sexual dysfunction associated with prostate related problems.
Jeff Brinkman, Chief Executive Officer of ProstimRx, commented that, “We are very pleased to have M.D. Venture Partners support ProstimRx in the global commercialization of our patented process for treating prostatitis and related prostate disorders. We intend to use the investment capital to obtain a 510(k) clearance from the U.S. Food and Drug Administration and CE mark from the European Union, obtain empirical data on the medical device treatment and longterm outcomes through clinical trials, initiate marketing of the medical device to the healthcare industry, and improve prostate patient outcomes around the world.”