Precision Biopsy, an Aurora, Colorado-based provider of a device platform designed to provide real-time classification of prostate tissue during biopsy procedures, raised $33.6m in equity funding.
The round was led by Woodford Investment Management (Woodford) with participation from Precision Biopsy’s parent company, Allied Minds (LSE: ALM).
The company will use the funds to commercialize its ClariCore™ Biopsy System and accelerate the development of its Focal Therapy program.
Led by Amir Tehrani, Chief Executive Officer, Precision Biopsy provides the ClariCore™ Biopsy System, a device platform designed to perform spectral analysis during a biopsy to classify whether tissue in the prostate is normal or suspicious. Equipped with an optical fiber and companion console, it provides in-vivo tissue classification that seeks to minimize the number of core samples taken by up to 90 percent, while offering actionable diagnostic information.
The company also develops the Focal Therapy program, which seeks to provide targeted, localized therapy to the prostate gland by using the same optical tissue-targeting technology found in the ClariCore system.
FinSMEs
06/10/2015