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Veran Medical Technologies Completes Financing Worth More Than $15 Million

ST LOUIS, March 18, 2011 /PRNewswire/ -- Veran Medical Technologies announced today that it has completed a round of financing worth more than $15M. Participants in the financing included existing investors and a new strategic partner. The proceeds from this financing will be used to commercialize products on the IG4 four-dimensional image guidance platform of technology.

"We are pleased to secure this funding as it will enable us to rapidly commercialize the products we are building and continue to impact patient care in an effort to diagnose and treat cancer earlier," said Jerome Edwards, president and CEO.

About Veran Medical Technologies, Inc.

Veran Medical Technologies is a privately held company led by a team of ex-Medtronic innovators focused on developing the next standard of care for minimally invasive delivery of interventional oncology therapies. Veran has built several clinical products upon its IG4 platform technology, which uses proprietary 4-D registration capabilities for targeting lesions within the human body. The company believes that by enabling minimally invasive, early stage treatments, it can increase patient survival and lower Healthcare Costs significantly. Veran is headquartered in St. Louis, MO.

SOURCE Veran Medical Technologies, Inc.
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