LAUSANNE, Switzerland–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/BOM?src=hash” target=”_blank”gt;#BOMlt;/agt;–SamanTree Medical, committed to reducing the need for cancer surgery
re-operation particularly in breast surgery, announced today the
successful closing of its CHF 9.5 million Series A financing.
Proceeds will be used to commercialize the patented Histolog™ system,
notably the recently CE mark Histolog™ Scanner v2, for enabling precise
tumor removal at first surgery.
Panakès Partners, the Medtech European leading venture capital mixing
strong corporate and investment expertise, has led this round, alongside
the Sioux Tech Fund, the venture arm of Sioux Technologies, a company
with expertise in high-tech manufacturing, software development and data
analytics. Existing shareholders and new investors BOM Brabant Ventures
and btov Partners were participating as well.
“The timing is impeccable with the recently awarded European project, we
are combining the right supports for executing on our mission to bring
the gold standard in the Operating Room” said CEO and Co-Founder
Bastien Rachet. The European Innovation Council awarded SamanTree
Medical with EUR 2.3 million grant in September 2018, via its H2020
SME’s Instrument Program.
More than 500,000 lumpectomies are performed annually in the USA and
Europe alone and up to 25% require re-operation. Additional operation is
a burden for the patient and it increases the stress relative to the
treatment; it also results in annual costs of $2.7 billion. Surgeons
face a difficult trade-off: maximize confidence in removal of the entire
tumor and minimize removal of healthy tissue. The “Gold Standard”
for margin assessment is histopathology microscopy – these laboratory
results, however, aren’t available until days after surgery. Surgeons
need faster support for margin assessment in the operating room, ideally
in real-time and with accuracy comparable to this “Gold Standard”.
SamanTree’s Histolog™ is the only solution that enables a global mapping
of a lumpectomy for full margin control with histology-grade confidence
in few minutes before closing the incision. With this innovative and
highly practical imaging modality, the clinician is one
touch-on-the-screen away from visualizing cancerous cell on a surgical
specimen immediately during surgery. Enhancing the decision-making
process during the surgery, this solution carries the promise of a
better patient care, by increasing the confidence in a complete tumor
removal at first surgery.
About SamanTree Medical
SamanTree Medical, a spin-off
company from the Swiss Federal Institute of Technology (EPFL), develops
disruptive imaging modalities and data analytic solutions for improving
cancer treatment care. Founded in December 2014, SamanTree is
headquartered in Lausanne, Switzerland. www.samantree.com
About Panakès Partners
Panakès Partners is a Venture Capital
investor that finances medical companies, early stage startups and SMEs,
with extremely promising products and great ambition, in Europe and
Israel, improving both patient outcomes and healthcare economics.
Investments focus on the medical device, diagnostics and healthcare IT
fields. Panakès Partners is headquartered in Milan, Italy.
/ Contact: firstname.lastname@example.org
About the Sioux Tech Fund
The investment fund of high-tech
company Sioux Technologies, together with regional and European partners
(such as the Brabant Development Agency and the European Angel Fund),
invests in promising technical start-ups. This gives innovative ideas a
chance for faster development in terms of technological progress and
faster market introduction.
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About BOM Brabant Ventures
BOM (the Brabant Development
Agency) works together with entrepreneurs to create a strong,
sustainable, and future-proof Brabant economy. BOM uses the Brabant
Ventures label to focus, using knowledge and capital, on the accelerated
and future-proof growth of ambitious Brabant startups and scaleups in
the high-tech systems and software, agri-food, life sciences & health,
maintenance, supply chain, and bio-based economy top industries.
/ Contact: firstname.lastname@example.org
SamanTree Medical has received funding from the European Union’s Horizon
2020 research and innovation programme under grant agreement No.823284.
For more information regarding this press release, please contact:
Besnier, Executive Office Manager
+41 21 625 09 40