Lightpoint Medical Raises $8M to Support Launch of Robotic Cancer Detection Probe
March 25, 2021
Lightpoint Medical, which is developing miniaturized cancer detection tools for robot-assisted surgery platforms, has announced completing an $8 million financing round. New funding from the British Business Bank Future Fund, including follow-on investors, has raised the total raised for the company to $18 million.
The company said the new capital will be used to finance expanded clinical trials and early commercialization of its robotic probe, SENSEI, which has the potential to assist in more than 2 million applicable surgical procedures every year in Europe, the U.S., Japan, and China. SENSEI received Europe’s CE Mark approval earlier this year, received approval for sale in Australia, and has been registered with the U.S. FDA. Commercial distribution deals have been made in Spain, Portugal and Australia, with more contracts to be announced later this year. Clinical trials are ongoing in prostate and cervical cancer, with new studies in lung cancer planned for the second half of 2021, the company said.
By exploiting advances in miniaturized sensor technologies and the development of cancer-targeted diagnostic imaging agents, Lightpoint is developing miniature tools appropriate in scale for minimally invasive and robotic-assisted surgery. The goal is to accurately detect cancer in real-time intra-operatively, aiding surgical decision making, improve patient outcomes and saving costs for healthcare systems.
“We’re grateful to the British Business Bank and many of our previous shareholders for investing in the round and reaffirming their commitment to Lightpoint,” sadi Dr. David Tuch, CEO of Lightpoint Medical. “This fundraising follows the U.S. and European market clearance for our SENSEI robotic probe and will enable us to further expand our clinical program and prepare for early commercial development of the technology.”
Follow-on investors included private investors, Oxford Technology, Venture Founders, and Coutts Bank. More details on Lightpoint Medical can be found here. Details on the SENSEI system are here.
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