HERZLIYA, Israel, June 2 /PRNewswire/ -- superDimension, Ltd. today announced that it has completed a Series B round of financing totaling US$27 million, led by OrbiMed Advisors LLC ("OrbiMed"). Additional new investors included CIBC World Markets and the Strategic Investments Group of Pfizer, Inc. Most of superDimension's existing shareholders have participated in the round, including Oxford Bioscience Partners, Pitango Venture Capital, Medica Venture Partners and Mi3.
superDimension is an emerging leader in the minimally-invasive diagnosis and treatment of lung disease (among them cancer, emphysema and tuberculosis) via interactive real-time guidance of endoscopic tools.
"In our estimation, superDimension is the best medical device platform in the emerging field of interventional pulmonology," said Jonathan Silverstein, General Partner at OrbiMed. "The superDimension system provides a quantum leap forward in a pulmonologist's ability to successfully biopsy distal tissue in the lungs. In the future, we believe the Bronchus platform will enable doctors to not only diagnose, but treat patients with pulmonary disease. By providing a new 'railroad' to distal regions of the lung, superDimension will enable new treatment methodologies that should be more effective and less invasive. We look forward to working with superDimension's management and board to make this company a commercial success." Concurrent with the closing of the financing, Mr. Silverstein will join the board of directors of superDimension.
"We cannot think of a better-qualified lead investor and stronger partner than OrbiMed", said David Tolkowsky, President and CEO of superDimension. "The funds will be used for further expanding our global presence, as well as for accelerating the development of our second-generation products."
superDimension is an emerging world leader in the minimally-invasive diagnosis and treatment of lung disease (e.g., cancer, emphysema) via interactive real-time guidance of endoscopic tools.
The superDimension/BronchusTM system answers a critical clinical need that is currently unmet. It accurately reaches, and in a minimally-invasive manner, lung locations that are far beyond the endoscope's own vision. It is highly applicable to well over four million interventional procedures per year worldwide.
The Company offers a turnkey navigation system consisting of capital equipment and disposables. The system combines proprietary and patented core technologies in the areas of electromagnetic localization for medical applications, image processing, image-to-body registration and steerable endoscopic tools. The superDimension solution is strongly endorsed by world-renowned interventional pulmonologists.
superDimension has already been selling its products in Europe since early 2004, and has recently gained FDA 510(k) clearance and commenced US sales and has over 25 commercial sites worldwide.
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