Dune Medical Devices, a Caesarea, Israel-based developer of RF Spectroscopy technology to detect microscopic residual cancer, closed a $12.3m financing round.
The round was led by Canepa Healthcare, ATON Partners, and the Kraft Group.
The company will use the funds to establish a new standard of care with its existing MarginProbe System and to further develop their RF spectroscopy platform into other applications.
Led by CEO Lori Chmura, Dune Medical is based upon proprietary radiofrequency (RF) spectroscopy platform which will be applied to a variety of other cancers following the application of its first marketed product, the MarginProbe System.
Since receiving FDA approval, the MarginProbe System for use in breast cancer lumpectomy procedures, has demonstrated a significant reduction in re-excisions when women undergo breast conserving surgery after a diagnosis of early-stage breast cancer.
In addition to use during breast cancer surgery, Dune’s RF spectroscopy platform is being explored for other applications and disease sites.
In August 2016, the company received a €3m EU Horizon 2020 grant to support the continued development of its RF spectroscopy based biopsy system.