Procept BioRobotics completes $118mm late-stage round

In what appears to be a Series E round, urology-focused Procept BioRobotics Corp. (minimally invasive water ablation therapy) raised $118mm in a financing led by new backer Viking Global Investors LP, which was joined by other new investor Perceptive Advisors and returning participants, including CPMG. The company will use the proceeds to fund worldwide commercialization of its Aquablation technology for benign prostatic hyperplasia (BPH). The company's robot-controlled AquaBeam waterjet-based prostate resection system, which incorporates the Aquablation platform, was cleared by the FDA via the de novo pathway in December 2017 (with an expected US launch in May 2018). The AquaBeam is already sold in Canada, Australia, New Zealand, and certain limited European markets.