Butterfly Medical, developer of a proprietary non-surgical solution for BPH (benign prostatic hyperplasia), today announced the completion of its Series C funding round, raising $21 million.
"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," said Butterfly CEO Patrick MacCarthy in a statement. "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 device, which has already secured CE Mark approval for use in Europe, is designed to alleviate the 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, PhD, Managing Partner at New Rhein Healthcare Investors and Chairman of the Board at Butterfly Medical. "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."
The round includes participation from new and existing investors, including the European Innovation Council (EIC), Junson Capital, MedVenture and New Rhein Healthcare Investors.
Butterfly Medical will be showcasing its technology at the American Urological Association (AUA) 2026 Annual Meeting in Washington, D.C. from May 15-18.
