Francis Medical

• 08/01/2025
• Series C
• $80,000,000

Francis Medical is developing minimally invasive treatment solutions for prostate, kidney, and bladder cancer through the use of convective thermal water vapor. Currently, the company is in clinical trials for ablating cancerous prostate tissue. Founded in 2018, Francis Medical is located in Maple Grove, Minnesota.

Francis Medical, Inc., formerly named NxPhase Medical, Inc., is a company that was created after Boston Scientific (BSC) acquired NxThera, Inc. in April of 2018.

As a part of the BSC/NxThera transaction, a separate and independent entity, NxPHASE Medical, Inc. (“NxPHASE”), was established, and shares of NxPHASE were distributed to the shareholders of BSC/NxThera. In addition, BSC/NxThera granted NxPHASE a license to utilize BSC/NxThera’s convective vapor ablation technology to develop, evaluate, and commercialize certain devices to treat prostate, kidney and bladder cancer (“NxPHASE Field of Use”), while BSC/NxThera remains focused on the treatment of benign prostatic hyperplasia.

Late in 2018, NxPhase Medical, Inc. went through a rebranding process and selected Francis Medical, Inc. as its new brand and identity. The name and foundation of the company are a tribute to and legacy of Michael Hoey’s (founder/inventor) father, Francis Hoey, whose life was ended by prostate cancer with treatments that had harsh implications on his normal daily living.

In December 2018, Francis Medical completed an $18.0 million round of Series A financing. In September 2021, the company closed a $55 Million Series B Equity Financing.

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