ProVerum Secures $80 Million Series B Financing to Advance New Treatment for BPH

DUBLIN, Aug. 25, 2025 /PRNewswire/ -- ProVerum Limited, the developer of the ProVee® System for BPH, a minimally invasive solution for treating benign prostatic hyperplasia (BPH), announced today the closing of an $80 million Series B equity financing.  The financing was led by MVM Partners, who were joined by new investors OrbiMed and the Ireland Strategic Investment Fund (ISIF), and included participation from existing investors Gilde Healthcare Partners, Lightstone Ventures, Atlantic Bridge and Enterprise Ireland amongst others.

The ProVee System uses a nitinol stent designed to gently re-shape the enlarged BPH prostate and alleviate the associated lower urinary tract symptoms. It is deployed through a low profile, flexible, steerable delivery system with integrated imaging, which is the same size as the office-based endoscopes routinely used for diagnosing BPH. Proceeds from the financing will be used to prepare for commercialization.

"I'm delighted to welcome MVM, OrbiMed and ISIF to the ProVerum team," said Paul Bateman CEO of ProVerum Ltd. "This is an exciting time for the company as we prepare to commercialize our novel treatment for men with BPH."

The Company also welcomed Hugo Harrod, Partner at MVM Partners, and Dina Chaya, Partner at OrbiMed, to its Board of Directors.

MVM partner Hugo Harrod commented: "ProVerum exemplifies MVM's focus on disruptive medical products addressing areas of true unmet need. We look forward to applying our experience in commercial stage medical technology to support the Company through its next phase."  

OrbiMed Partner Dina Chaya said, "ProVerum has an innovative minimally invasive treatment for BPH and is led by a first-class team. We are delighted to be supporting the Company through the next stage of its growth."

About ProVerum

ProVerum Ltd. is an innovative Dublin based company focused on the development of novel minimally invasive technologies to treat BPH.  Our first product offering, the ProVee® System for BPH is an investigational device, limited by federal law to investigational use and not available for sale within the United States.  For more information visit www.proverummedical.com or connect with us on X or LinkedIn.

About MVM Partners

MVM has invested in high-growth healthcare businesses since 1997. With teams in Boston, London, and the San Francisco Bay Area, MVM has a broad, global investment outlook spanning medical technology, pharmaceuticals, diagnostics, contract research and manufacturing, digital health, and other sectors of healthcare. More information can be found at www.mvm.com.

About OrbiMed

OrbiMed is a leading healthcare investment firm, with over $17 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, through private equity funds, public equity funds, and royalty/credit funds. OrbiMed seeks to be a capital provider of choice, providing tailored financing solutions and extensive global team resources to help build world-class healthcare companies. OrbiMed's team of over 130 professionals is based in New York City, London, San Francisco, Shanghai, Hong Kong, Mumbai, Herzliya, and other key global markets.

About the Ireland Strategic Investment Fund

The Ireland Strategic Investment Fund (ISIF) is a sovereign development fund which has a mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. ISIF is controlled and managed by the National Treasury Management Agency, a State body which provides asset and liability management services to the Irish Government.

SOURCE ProVerum