Calyxo, Inc. closed a $40 million Series F financing round on April 14 2026, with Janus Henderson Group plc and Ally Bridge Group leading the effort alongside a group of returning investors including Questa Capital Management, Avidity Partners, and CR Group. The round was structured as a convertible preferred equity issuance, giving the new investors a stake in the company while preserving the existing ownership structure for current shareholders.
The capital infusion comes at a pivotal moment for Calyxo, whose CVAC system—an all‑in‑one aspiration‑based stone‑removal device—was cleared by the U.S. Food and Drug Administration in 2024. The device has already treated more than 40,000 patients, a milestone that underscores its clinical traction and the growing demand for less invasive kidney‑stone therapies in a market that could reach $4.1 billion in direct treatment costs by 2030.
Calyxo plans to deploy the new funds to expand its commercial footprint, accelerate the generation of clinical and health‑economic evidence, and invest in further innovation within kidney‑stone care. These initiatives are intended to strengthen the company’s competitive position against traditional lithotripsy and ureteroscopy approaches, which often leave residual stone fragments and require additional procedures.
Prior to this round, Calyxo had raised $50 million in a Series D in December 2023 and $32.7 million in a Series C in July 2022, bringing its total capital raised to over $150 million. The Series F adds a new layer of financial support that will help the company scale its operations and broaden its evidence base.
In a statement, CEO Joe Catanese highlighted the round as an “inflection point” that will enable Calyxo to “move faster in advancing our technology and expanding the evidence base to further improve patient care.” Managing Director Kevin Reilly of Ally Bridge Group noted that the investment reflects confidence in Calyxo’s differentiated technology and its potential to become a standard of care in kidney‑stone treatment.
The funding round signals strong investor confidence in Calyxo’s technology and market opportunity, positioning the company to accelerate growth, deepen its clinical evidence, and solidify its competitive advantage in a sizable and evolving market.
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