Farallon Medical

NeoTract, originally incorporated as Farallon Medical, is a medical technology company that developed and commercialized the UroLift System, a first-in-class minimally invasive technology for Benign Prostatic Hyperplasia (BPH). The UroLift System utilizes small permanent implants to mechanically open the prostatic urethra, providing rapid symptom relief while preserving sexual function and avoiding the complications associated with traditional surgery or thermal ablation. The company was founded in 2004 within the ExploraMed incubator and achieved significant commercial success, leading to its acquisition by Teleflex Incorporated in 2017 for an upfront payment of $725 million and up to $375 million in milestones. The technology is now a cornerstone of Teleflex's interventional urology portfolio and is supported by extensive clinical data, including the L.I.F.T. pivotal study. NeoTract's trajectory from a venture-backed startup to a billion-dollar exit makes it a landmark case in the medical device sector.