Will Veran’s development accelerate now that it has secured the backing of Prolog Ventures and Advantage Capital Partners who have experience in the development of medical device companies? Will the IG4 product have a successful track record and a significant impact on patient care? will the investment allow the company to execute and drive adoption of its products?
IIP > read on here > http://www.prnewswire.com…
…Veran Medical Technologies, a medical device start-up company, has secured $4.75M in venture capital and private financing to drive adoption of its IG4 delivery system for minimally invasive biopsy and ablation of cancer. St. Louis-based Prolog Ventures led the round and was joined by Advantage Capital Partners and existing private investors. Veran also relocated its headquarters from Nashville to St. Louis in order to build relationships with the local medical community…
The greatest hurdle in cancer treatment is safe, efficient, and economical early detection. When diagnosed at Stage 1, lung cancer survival rates approach 90%. If diagnosed beyond Stage 1, lung cancer survival rates fall to below 15%. Cancer screening will only increase the already overwhelming demand for biopsies needed for complete diagnosis. Incidental screening is occurring at a high rate due to the 7 million chest CT scans performed annually in the United States as patients are examined for other co-morbidities. This is leading to detection of potential cancer much earlier in the disease cycle. Tools are needed to encourage early treatment through safe, efficient biopsies and resection or ablation.
The Veran IG4 system and instruments enable accurate, efficient targeting of very small lesions. The system aims to give clinicians the confidence to treat patients earlier in the disease cycle without subjecting patients to unnecessary complication risk. The system also aims to deliver throughput efficiency that hospitals can capitalize on. Finally, the IG4 products hope to move cancer treatment earlier in the disease cycle, which is far more economical and beneficial than expensive later stage surgeries and medicines…
Veran Medical Technologies is a privately held image-guided medical device company focused on developing the next standard of care for minimally invasive delivery of interventional oncology therapies. Veran provides proprietary 4D registration capability for precise targeting of lesions via its FDA cleared platform. The Veran platform aims to reduce procedure times and increase accuracy, enabling clinicians to cost effectively treat patients with reduced co-morbidity risk. Veran Medical Technologies relocated from Nashville, Tennessee to St. Louis, Missouri.
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