Clear-Cut Medical Raises Further Funding for Clinical Trials, Commercial Support and Product Development

REHOVOT, Israel--(BUSINESS WIRE)--Clear-Cut Medical, the Rehovot, Israel based company, has completed a Series B financing to support its continued product development and commercialization of its novel ClearSight^TM MRI system for cancer surgery margin assessment, where first clinical trials are being conducted for breast conserving surgery. The financing was led by Previz Ventures.

“We believe our technology can identify positive margins and reduce this high rate of re-operation.”

The funds will support clinical trials in the U.S., Europe and Israel as well as global market development for the anticipated launch of the product in early 2016 and further product development.

The ClearSight^TM system is a compact, mobile, affordable and easy to use MRI system for intra-operative margin assessment of excised tissue. It utilizes well-established Diffusion Weighted Magnetic Resonance Imaging (DW-MRI) protocols, which have shown effective results in tissue characterization in general and particularly in breast imaging. Indication of margin status is highlighted and correlated with its orientation, supporting real-time surgical decisions on the need for additional excision.

ClearCut will pursue additional applications of the technology for prostate, thyroid and skin cancer surgery, as well as imaging of biopsy cores, providing the benefits of MRI in a mobile format that does not require special shielded suites.

“We are very excited to bring this important technology to surgeons in the Operating Room to assist in real-time margin assessment, where the published average rates of positive margins requiring a repeat operation may be as high as 25%,” said Eyal Kolka, CEO of Clear-Cut Medical. “We believe our technology can identify positive margins and reduce this high rate of re-operation.”

“Clear-Cut Medical has demonstrated the ability to bring the power of MRI into the operating room. We are extremely pleased to lead this financing round and be a part of offering this needed technology to physicians and cancer patients,” said Dan Baruchi, Managing Partner at Previz Ventures.

About Clear-Cut Medical

Clear-Cut Medical is a medical device company based in Rehovot, Israel, dedicated to improving the quality of care for cancer patients through its novel intra-operative MRI technology. The company has developed the compact, mobile, affordable and easy to use ClearSight^TM system for excised tissue assessment. The system utilizes state of the art MRI protocols for tissue margin assessment, for example for the excised tissue in breast conserving surgery, to support real-time surgical decisions on the need for additional excision.

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