Levee Medical® Secures $10 Million in Oversubscribed Series B Funding

Funding to Advance Voro^® Urologic Scaffold Development and Clinical Studies

DURHAM, N.C., Feb. 11, 2025 /PRNewswire/ -- Levee Medical^®, a medical device company focused on improving outcomes for prostate cancer surgery patients, announced the successful close of its Series B financing, totaling more than $14 million including note conversions. This fundraising round highlights strong investor confidence in the company's innovative solution for post-prostatectomy incontinence.

The proceeds will accelerate the development of the Voro^® Urologic Scaffold, an absorbable device designed to reduce post-prostatectomy urinary incontinence. The funding will also support ongoing clinical studies, including an upcoming U.S. pivotal trial and current ARID studies.

"There is substantial interest in our efforts to help men get drier sooner after surgery. We are deeply grateful for the incredible support we've received in bringing transformative solutions to patients and providers," said Adam Irving, CEO of Levee Medical.

Levee Medical also announced significant milestones in its ARID study. Dr. Gustavo Espino, PI of the ARID study at Hospital Nacional in Panama City, has successfully enrolled 28 patients, contributing to the study's robust progress. The ARID feasibility study is evaluating the safety and performance of the Voro Urologic Scaffold in reducing post-surgical stress urinary incontinence.

Dr. Espino remarked, "Our experience with the Voro Urologic Scaffold has been extremely encouraging. The device had an outstanding safety profile and patients have noted early improvements in continence, which translates to a considerably better quality of life post-surgery."

The Voro Urologic Scaffold is designed to be placed during the prostatectomy procedure to manage the geometry of the bladder neck and maintain urethral length, which are critical factors in preventing post-operative incontinence. This innovative, absorbable device aims to markedly reduce the incidence of stress urinary incontinence, providing a much-needed solution for patients undergoing radical prostatectomy.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended ("Securities Act").

About Levee Medical

Levee Medical is committed to designing solutions that aim to reduce complications associated with surgical treatment for prostate cancer. The Voro Urologic Scaffold is the first product Levee plans to bring to market. This device is an investigational device, is not FDA cleared or approved and is currently in the research and development phase and is not available for sale in any country.

For more information, please visit leveemedical.com.

SOURCE Levee Medical