Bright Uro announced today that it closed $23 million in a Series A funding round to support its Glean urodynamics system.
Irvine, California-based Bright Uro plans to use the funding to help garner FDA 510(k) clearance for Glean. It set its sights on a U.S. launch for the product in 2024.
Glean, a comprehensive system, enables wireless, catheter-free urodynamics. Bright Uro aims to provide clinicians with more accurate data and actionable insights to aid in clinical decision-making. Glean features an insertion tool, a Bluetooth-enabled pressure sensor in a flexible silicone tube, a software app for use by clinicians and patients and a uroflowmeter to sense volume and flow.
Bright Uro launched in June of last year with $6 million in total funding. The company obtained an exclusive licensing agreement from Cleveland Clinic for technology developed by the hospital system in collaboration with the Department of Veterans Affairs, Case Western Reserve University, and Parker Hannifin Corporation. It uses that technology in the Glean system.
“I am so proud of our team for achieving this incredible milestone,” said Derek Herrera, Bright Uro founder and CEO. “In just 15 months since securing an exclusive IP license from the Cleveland Clinic, we have built, tested, and manufactured not one device, but a highly complex system including single-use disposable sensors, male and female insertion tools, a reusable uroflowmeter, and multiple software apps. At Bright Uro, our people are our most important asset. Casey and Suranjan are the right leaders joining at the perfect time to have an exponential impact as we continue on the path to bring Glean to market.”
More on the Bright Uro funding and additional news
Laborie Medical Technologies, a provider of urology solutions, led the financing round. The company recently made a splash in the urology space with its October acquisition of Urotronic.
“Laborie looks forward to leveraging our expertise and leadership in the global urology market to support the Bright Uro team,” said Michael Frazzette, president & CEO of Laborie. “The Glean system is a very novel technology. This investment furthers our commitment to preserve and restore human dignity while improving patient access and outcomes.”
Bright Uro also announced that it appointed two industry veterans to its executive team. Suranjan Roychowdhury joins as chief product development officer and Casey Kanel joins as chief commercial officer.
Roychodhury brings experience leading R&D and clinical affairs at both startups and large medical device companies, including AMS, Cogentix, and Boston Scientific.
Kanel’s track record includes more than 30 years of experience in urology and urogynecology sales. After spending most of his career with Medtronic, Kanel led the U.S. launch of Bulkamid for Contura until Axonics acquired it in 2020.
Original Article: (https://www.massdevice.com/bright-uro-raises-23m-urodynamics-system/)