Endomag, a Cambridge, England, UK-based developer of tech solutions for breast cancer, secured £15m (approx. $20m) in Series D funding.
The round, which brought total funding to over £32m (approx. $43m), was led by Draper Esprit with participation from existing investors Sussex Place Ventures among others.
Thee company intends to use the funds to expand access to new advanced techniques enabled by its products, such as targeted axillary dissection (TAD) and delayed sentinel lymph node biopsy (dSLNB) and to scale its product offering, market reach and employees.
Led by Chief Executive Officer Eric Mayes, Endomag has developed technologies that use non-invasive magnetic sensing to locate and stage breast cancer. At the heart of the company’s product offering is the Sentimag® localisation system. The system features a probe which is used like a metal detector by surgeons to accurately locate a breast tumour during surgery with Endomag’s magnetic seed (Magseed®) or help determine if that cancer has spread using its liquid tracer (Magtrace®).
The company continues to invest in research and development and, in 2021, is due to launch its next generation Sentimag® platform, as well as new Magseed® products. Endomag is aiming to expand beyond its current base of 43 countries.
FinSMEs
30/11/2020