Clear-Cut Medical, a Rehovot, Israel-based medical device company, has completed a Series B financing of undisclosed amount.
The round was led by Previz Ventures.
The company intends to use the funds for continued product development and commercialization of its novel ClearSightTM MRI system for cancer surgery margin assessment, where first clinical trials are being conducted for breast conserving surgery. The funds will support clinical trials in the U.S., Europe and Israel as well as global market development for the launch of the product in early 2016 and further product development.
Led by Eyal Kolka, CEO, Clear-Cut Medical develops the ClearSightTM system, a compact and mobile MRI system for intra-operative margin assessment of excised tissue. It utilizes Diffusion Weighted Magnetic Resonance Imaging (DW-MRI) protocols, which have shown effective results in tissue characterization in general and particularly in breast imaging. The company 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.