Imaging dev Lightpoint Medical raises $6m

Lightpoint Medical

Medical imaging dev Lightpoint Medical said today it raised approximately $6.4 million (GBP £5 million) in a new financing round slated to support the commercialization of the company’s robotic laparoscopic probe and its LightPath imaging system.

Money in the round came from Cambridge Capital Group, Venture Founders, Coutts Investment Club, Envestors, Fund Twenty8, SyndicateRoom and Oxford Technology, the Chesham, U.K.-based company said. It added that it has also raised more than $3.8 million (GBP £3 million) from Horizon 2020 SME instrument and Innovate UK.

“We are very proud to have supported Lightpoint Medical in this financing round and delighted that they have secured this growth finance. We have always been very impressed by their talented and experienced team and their revolutionary and groundbreaking technology, which will be transformative in improving patient outcomes in cancer surgery. Our focus on Series A through to Growth means that we are able to support companies, like Lightpoint, to fulfill their potential,” Venture Founders co-founder & managing director James Codling said in a press release.

Funds from the round will support continued commercialization of Lightpoint’s robotic laparoscopic probe designed to detect cancer and to support the commercial growth of its LightPath Imaging system, which has already been launched in Europe.

“We’re pleased to have secured this growth finance to prepare the company for commercial scale-up. In particular, it’s a pleasure to see the substantial number of our previous investors following on as well as to welcome our new shareholders. With this new funding, we’re looking forward to commercial launch of our laparoscopic probe which we believe will be game-changing for minimally invasive surgery,” Lightpoint Medical CEO Dr David Tuch said in prepared remarks.

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