“super” round of financing
Posted on June 30th, 2008 – 11:50 AMBy Thomas Lee
superDimension Ltd., which is developing GPS-like technology to help diagnose early stage lung cancer, said it raised $22.3 million in private equity financing. The company would not disclose the investors.
That means the Plymouth-based startup is close to breaking the $100 million financing mark. superDimension previously raised $75 million in venture capital from major investors such as pharmaceutical giant Pfizer, CIBC World Markets and OrbiMed Advisors, the world’s largest health care investment firm with more than $6 billion in assets.
Dubbed electromagnetic navigation bronchoscopy, superDimension’s system allows doctors to probe the deepest regions of the lungs, guided by sensors and 3-D mapping software.
Working from CT scans, superDimension’s software creates a 3-D map of a patient’s lungs to mark suspected legions. After a navigational catheter is inserted into the lungs, a sensor guides the tube to the lesion by comparing its real-time location to the map. The catheter can also rotate 360 degrees for better maneuverability.
In a statement, CEO Daniel Sullivan said the company will use the new money to expand sales and marketing.
Newspaper Subscriptions
eEdition
RSS
Newsletters