Bright Uro – a medical device company with a mission to transform care for lower urinary tract symptoms (LUTS) through innovations in urodynamics – recently announced the initial closing of its $23 million Series A financing round led by Laborie Medical Technologies, a leading global provider of urology diagnostic and therapeutic solutions.
This funding round includes investment from Laborie and other existing investors in the company. And the funding will be used to achieve FDA 510(k) clearance of the Glean Urodynamics System (Glean) and launch the product in the U.S. in 2024. Glean is a comprehensive system that enables wireless, catheter-free urodynamics and aims to revolutionize the testing process by giving clinicians more accurate data with actionable insight to aid in clinical decision-making.
The company also announced the appointment of two industry veterans to its executive team, Suranjan Roychowdhury, Ph.D., as Chief Product Development Officer and Casey Kanel as Chief Commercial Officer. Dr. Roychowdhury has extensive experience leading R&D and Clinical at both startups and large medical device companies, including AMS, Cogentix, and Boston Scientific. And Casey Kanel brings an impressive track record of commercial success with over 30 years of experience in urology and urogynecology device sales. After spending the majority of his career with Medtronic, Casey led the U.S. launch of Bulkamid for Contura until their successful acquisition by Axonics in 2020.
KEY QUOTES:
“Laborie looks forward to leveraging our expertise and leadership in the global urology market to support the Bright Uro team. 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.”
— Michael Frazzette, President & CEO of Laborie
“I am so proud of our team for achieving this incredible milestone! 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.”
— Bright Uro Founder and CEO Derek Herrera
