Coloplast announced today that it has completed a USD 4m (DKK 25m) equity investment in Francis Medical, an early stage company pioneering urological cancer treatments, beginning with prostate cancer.
Founded in 2018, Minneapolis-based Francis Medical is a privately held company committed to developing minimally invasive urological cancer treatments. The foundation of the company is a tribute to and legacy of the inventor’s father, Francis Hoey, whose life was ended by prostate cancer with treatments that had harsh implications on his normal daily living.
The platform technology utilizes water vapor energy to ablate targeted cancerous tissue while preserving surrounding structures, potentially minimizing the side effects often experienced with other cancer treatments.
The investment fits with Coloplast’s strategy to pursue organic and inorganic growth opportunities in the Interventional Urology business. Francis Medical in particular and the prostate cancer segment in general align with the Interventional Urology’s strategic direction, bringing innovative solutions to the urology market.
“We are proud to be supporting life-changing technologies in growing urology segments. As part of our long-term strategy we are exploring multiple areas for investment and growth, and we are excited about providing solutions in Men’s Health segments like prostate cancer,” said Steve Blum, President of Interventional Urology.
Coloplast is dedicated to making life easier for people with intimate healthcare needs and advancing the treatment of prostate cancer supports that mission. The investment in Francis Medical will help the company continue to develop their minimally invasive solution and help Coloplast Interventional Urology continue to grow its presence in the market with customers and patients.
“There is a large unmet need for patients seeking treatment alternatives with fewer side effects than radiation or a radical prostatectomy. We are working to address that unmet need and are excited to have the support of a leader in urology like Coloplast to improve the treatment of prostate cancer,” said Mike Kujak, CEO of Francis Medical.
For more information on Francis Medical please refer to www.francismedical.com
Danish medical device company Coloplast develops products and services designed to make life easier for people with intimate health conditions. Coloplast listens to end-users to better understand their needs and responds by bringing the best ideas to market in the form of medical devices and service solutions.
Learn more on www.coloplast.us/about-coloplast
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