Watershed Medical is a clinical-stage company developing sustained-release drugs delivered directly into the bladder rather than systemically. Its lead program targets bladder cancer, including non-muscle-invasive and muscle-invasive disease, with plans to extend the platform to other urological conditions. The formulations are described as 'sustained and self-clearing', intended to hold therapeutic levels in the bladder and then clear without a retrieval procedure. The company was co-founded by trauma and acute care surgeon Topher Kinsella, MD, who serves as CEO.