Tactile Systems Technology, a Minneapolis, MN, company whose technology treats vascular disorders such as lymphedema, has raised $11.8 million. The financing, led by Galen Partners of Stamford, CT, will be used to increase sales of the company’s lead product, Flexitouch, within the lymphedema market, and to expand into the chronic-wound space. The Flexitouch system consists of a programmable controller that attaches to segmented garments covering the limb, trunk and chest. Therapy is delivered through chambers in the garments that inflate and deflate sequentially, simulating manual lymphatic drainage. This at-home therapy usually follows manual lymphatic therapy provided by therapists in clinical…
Author: Global Cancer Consortium
Diamics, a Novato, CA, diagnostics company, has received CE Mark approval for a molecular-based cervical cancer-screening tool designed to improve the effectiveness of traditional testing methods. The Pap-Map System — which uses Diamics’ FDA-approved CerCol Cervical Cancer Collection System, for collecting cellular and fractional histological material from the entire cervix with a single, soft-tipped device — provides a “map” of collected cervical material. The system helps guide physicians’ diagnoses and decisions about subsequent colposcopy and biopsy procedures. Diamics says the system delivers more accurate, localized and definitive information than that provided by traditional screening methods. The company claims it reduces…
ReBuilder Medical Technologies, a Charles Town, WV, company that manufacturers a device for treating peripheral neuropathy, is making a big investment in customer service. The company is hiring licensed medical professionals to take calls from potential and existing customers. “In our five years of marketing the ReBuilder System on the Internet and handling call-in inquiries, we found that when a person calls in and can speak one-on-one with a medical professional, the closing ratio increases significantly,” said ReBuilder CEO David Phillips, in a statement. ReBuilder’s flagship product is the FDA-cleared ReBuilder System, for treating peripheral neuropathy. It’s a portable, battery-…
Ikonisys, a New Haven, CT, company that makes cell-based diagnostics for women’s health and oncology, has closed $30 million in Series E funding. The financing follows FDA clearance of two diagnostic applications for use in conjunction with Ikonisys’ Ikoniscope digital microscopy platform. The Ikoniscope is a fully automated microscopy platform that provides walk-away functionality, enabling real-time scanning and preliminary analysis of slide samples. Based on Ikonisys’ CellOptics technology, which fuses cell and molecular biology, microscopy, artificial intelligence and informatics, the Ikoniscope supports the automation of existing tests and Ikonisys’ own rare-cell detection tests. The company anticipates releasing the first two…
Ventana Medical Systems, in the midst of a hostile takeover bid by Roche, finally has something to smile about: The firm is the highest-ranking med tech firm, at number 17, on Forbes’ 200 Best Small Companies in America list, released last week. The Tuscon, AZ-based company markets automated diagnostic systems to the anatomical pathology market. In early 2007, Ventana received FDA approval for the use of its PATHWAY HER-2/neu (4B5) Rabbit Monoclonal Antibody as an aid in the assessment of breast cancer patients for whom Herceptin treatment is an option. According to Forbes, Ventana had sales of $261 million for…
Compendia Bioscience, an Ann Arbor, MI, company focused on oncology drug development, has received a $2.4 million Small Business Innovation Research (SBIR) Fast Track Award from the National Cancer Institute (NCI). The money will go toward commercialization of the company’s flagship product, Oncomine, an online platform that performs cancer gene-expression analysis. Oncomine aggregates cancer profiling data so that target expression across a large volume of cancer types, subtypes, and experiments can be assessed online in seconds. This enables users to discover and prioritize potential cancer targets and biomarkers, improving efficiency, strengthening product pipelines and increasing the likelihood of success. The…
Austin, TX-based Apollo Endosurgery, an early stage company developing devices for surgical procedures conducted through natural orifices, has secured $11.5 million in Series A financing. The round — participated in by PTV Sciences, H.I.G. Ventures, and individual investors — will be used to complete product development and conduct U.S. human trials for the company’s NOTES Access System. Apollo develops disposable devices that facilitate both endolumenal and translumenal surgical procedures (also known as NOTES). In addition to avoiding the scars caused by abdominal incisions, these procedures are expected to result in less pain, require less sedation, and lead to faster recovery…
Imalux, a Cleveland, OH-based firm specializing in imaging technology, has closed a Series C round of $5.1 million, including conversion of $2.5 million of bridge financing. The funding — for which lead investors Early Stage Partners, ElectroSonics Medical, Reservoir Venture Partners, and Symark were joined by more than 20 existing and new investors — will be used to advance Imalux’s Niris Imaging System. The Niris System, FDA approved since 2004, is a point-of-care, desktop computer-sized device that allows physicians to view abnormal tissues in real-time. It uses near infrared light and a miniaturized lateral scanning mechanism inside a thin probe…