Bright Uro Announces Oversubscribed $32M Series A Funding Round

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Oct 31, 2024, 10:00 ET

Laborie, University of California (UC Investments), Freepoint Capital and Laurelin Investors deliver funding to power 2025 product launch

IRVINE, Calif., Oct. 31, 2024 /PRNewswire/ -- Bright Uro, a medical device company with a mission to transform care for lower urinary tract symptoms (LUTS) through innovations in urodynamics, today announced the second closing of its Series A funding round, which was oversubscribed by nearly 40% above and secured a total of $32M for the company. Laborie Medical Technologies (Laborie), a leading global provider of urology diagnostic and therapeutic solutions, remains the lead investor, and it is now joined by University of California (UC Investments), Freepoint Capital Group and Laurelin Investors. The additional funding will be used to support Bright Uro's 2025 anticipated launch of its Glean™ Urodynamics System, as well as manufacturing capacity expansion and R&D activities to support expanding the future pipeline.

"The Glean system has the potential to significantly impact the urodynamics landscape, and we remain very supportive of the Bright Uro team," said Michael Frazzette, President and CEO of Laborie. "This funding round will help enable improved patient and clinician access to the technology which directly aligns with Laborie's mission of preserving and restoring human dignity."

"The overwhelming interest from a diverse range of sophisticated investors is a true testament to the compelling mission we are on," said Derek Herrera, founder and CEO of Bright Uro. "With this funding, we are well resourced for the launch of Glean in 2025, while also continuing to resource our pipeline of innovation. We have never been more confident in the expected impact Glean will have for clinicians and millions of patients suffering from urinary issues."

About Bright Uro

Based in Irvine, Calif., Bright Uro's mission is to transform care of lower urinary tract symptoms (LUTS) with its innovative technology that is poised to disrupt outdated urodynamics approaches. The Company's 510(k)-pending Glean™ Urodynamics System is designed to enable wireless, catheter-free urodynamics monitoring, with the ultimate goal of improving patient comfort and clinical outcomes. For more information, visit www.brighturo.com.

About Laborie Medical Technologies

Headquartered in Portsmouth, New Hampshire, Laborie is a global medical technology company focused on Urology, Urogynecology, Gastroenterology, Obstetrics, Gynecology & Neonatal Health. We manufacture and deliver high-quality, high-impact diagnostic and therapeutic products that help clinicians and hospitals preserve and restore patient dignity. Clinicians and hospitals look to us as the market-leading experts in our business segments, and we support our products with a world-class clinical education & information program. Laborie is a portfolio company of Patricia Industries. For more information, visit www.laborie.com.

SOURCE Bright Uro