Calyxo Raises $32.7M in Series C Financing

Calyxo, a company developing next-gen kidney stone treatment solutions, has closed a $32.7 million financing round led by Questa Capital and CRG.
 
The company developed the CVAC aspiration system, which uses irrigation and aspiration to remove kidney stones with the aim of a surgically stone-free outcome.
 
“We are excited to be moving into the next step of our evolution,” Calyxo president and CEO Joe Catanese told the press. “Kidney stone disease is a painful problem for patients, and it consumes vast amounts of healthcare resources each year. We believe our solutions will better meet the needs of kidney stone patients and transform the care of this condition. We look forward to applying this latest financing round toward further product development and the expansion of our team.”
 
Catanese previously founded NeoTract, developer of the UroLift minimally invasive device to treat lower urinary tract symptoms due to benign prostatic hyperplasia (BPH). The company was bought by Teleflex in 2017 for an over $1 billion price tag.
 
Catanese gathered a team and board that includes many of NeoTract’s founding team and key players for Calyxo.
 
“We are proud to invest in Calyxo and its groundbreaking kidney stone treatment technology,” said Ryan Drant, founder and managing partner of Questa Capital and Calyxo board member. “The company’s leadership team has a remarkable track record of recognizing significant unmet physician and patient needs within urology and bringing to market game-changing solutions to meet those needs. We look forward to supporting Calyxo through forthcoming development and commercialization milestones, and we are excited to see the team expand.”
 
“Calyxo has an opportunity to alter the kidney stone treatment category and deliver a new generation of devices that can reliably improve care for millions of people afflicted by kidney stones,” said Luke Düster, chief investment officer of CRG. “We are proud to support this team as it accomplishes its mission to provide a genuine solution for a long-standing medical problem.”