Trinity spin-out ProVerum secures $80 million in funding to accelerate commercialisation of innovative medical device
Posted on: 09 September 2025
ProVerum Limited, a pioneering Trinity spin-out, recently announced the successful close of its $80 million Series B financing round.
The largest investor funding round ever raised by a company to have spun out from an Irish university will help develop a device that reshapes enlarged prostates and relieves symptoms associated with benign prostatic hyperplasia.
Founded in 2015, the company’s core technology underpinning ProVerum’s ProVee® System was conceived and developed by researchers at the TCBE Medical Device Design Incubator lab led by Prof. Bruce Murphy, at the Trinity School of Engineering. The ProVee® System is an innovative, minimally invasive nitinol implant designed to reshape the enlarged prostate and relieve symptoms associated with benign prostatic hyperplasia (BPH).
The $80 million funding round – the largest ever raised by an Irish University spinout – was led by MVM Partners, with strategic participation from OrbiMed and the Ireland Strategic Investment Fund (ISIF), alongside continued backing from existing investors including Gilde Healthcare Partners, Lightstone Ventures, Atlantic Bridge, and Enterprise Ireland.
The funding will enable the final stages of product development, regulatory advancement, and the commercial launch of the ProVee® System.
From campus innovation to commercial promise
Proverum is one of a series of outstanding spin-outs that that Trinity Innovation & Enterprise has supported in recent years with the support of Enterprise Ireland / Knowledge Transfer Ireland KT Boost programme.
In the past seven years alone Trinity has supported nearly 40 new campus-based companies, raising over €340 million in funding and generating over 500 jobs.
“Trinity has an exceptional track record in creating high-impact spin-outs that translate world-class research and development capability into real societal and economic value,” said Dr Gordon Elliott at Knowledge Exchange (KnEx) (TTO), Trinity Innovation and Enterprise.
“ProVerum is another outstanding example of how breakthrough ideas nurtured on campus can scale globally, attract leading international investors, and transform patient lives.”
Other notable Trinity spin-out successes that have been acquired recently include SilverCloud Health (acquired by US telehealth company Amwell for €270 million in 2021) and Inflazome (acquired by Swiss pharma giant Roche for €380 million in 2020).
About ProVerum and the investors
Based in Dublin and Galway, ProVerum is at the forefront of medical device innovation for BPH treatment. Its flagship ProVee System offers a gentle, reversible, office-based solution for men’s urinary health using a precisely delivered nitinol stent with integrated imaging—without tissue removal or heat-based procedures.
MVM Partners is a global healthcare investor, supporting high-growth medical technology companies with deep commercialisation expertise; OrbiMed is a leading healthcare investment firm managing over US$ 17 billion in assets, investing across the full healthcare continuum; and the Ireland Strategic Investment Fund (ISIF) is a commercial fund aimed at supporting economic activity and jobs in Ireland.