Surgical robotics company Procept BioRobotics has raised $118m in an equity financing round, which will be used to support the global commercialisation of its Aquablation therapy to treat benign prostate hyperplasia (BPH).

New investor Viking Global Investors led the funding round and was joined by Perceptive Advisors and existing investors, including CPMG.

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Procept BioRobotics CEO Nikolai Aljuri said: “Our investors share our vision to make Aquablation therapy the new standard of care and treatment of choice for BPH.”

Aljuri is the principal architect of the company’s AquaBeam System and Aquablation technology.

CPMG partner Antal Desai said: “Based on Procep tBioRobotics’ commitment to innovation and the impressive clinical results from the double-blind randomised WATER Study, we believe Aquablation therapy is a paradigm-shifting solution for BPH.

“Aquablation therapy is a paradigm-shifting solution for BPH.”

“We fully support the company’s mission to deliver better patient outcomes and build value over the long term.”

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The Aquabeam System, which has been approved by the US Food and Drug Administration (FDA), is a surgical robot that offers autonomous tissue removal for the treatment of BPH.

It combines real-time, multi-dimensional prostate imaging and surgical robotics technology to provide Aquablation therapy, a high-pressure water jet used to remove prostate tissue without heating it.

The treatment is said to be a minimally invasive technique that provides consistent, predictable, and reproducible optimal outcomes.

The system is currently commercially available in the US, Canada, Australia, New Zealand, and select European markets.