Navigation Links
Veran Medical Technologies Secures $4.75M in First Institutional Funding
Date:5/12/2008

Company Poised to Impact Lung Cancer Care

ST. LOUIS, May 12 /PRNewswire/ -- Veran Medical Technologies, a medical device start-up company, has secured $4.75M in venture capital and private financing to drive adoption of its IG4 delivery system for minimally invasive biopsy and ablation of cancer. St. Louis-based Prolog Ventures led the round and was joined by Advantage Capital Partners and existing private investors. Veran also relocated its headquarters from Nashville to St. Louis in order to build relationships with the local medical community.

"We are pleased to have secured the backing of Prolog Ventures and Advantage Capital Partners who have experience in the development of medical device companies," said Jerome R. Edwards, president of Veran. "The Veran team has a wealth of experience and a successful track record of developing delivery products. We feel empowered by the significant impact that IG4 could have on patient care and society."

The greatest hurdle in cancer treatment is safe, efficient, and economical early detection. When diagnosed at Stage 1, lung cancer survival rates approach 90%. If diagnosed beyond Stage 1, lung cancer survival rates fall to below 15%. Cancer screening will only increase the already overwhelming demand for biopsies needed for complete diagnosis. Incidental screening is occurring at a high rate due to the 7 million chest CT scans performed annually in the United States as patients are examined for other co-morbidities. This is leading to detection of potential cancer much earlier in the disease cycle. Tools are needed to encourage early treatment through safe, efficient biopsies and resection or ablation.

The Veran IG4 system and instruments enable accurate, efficient targeting of very small lesions. The system aims to give clinicians the confidence to treat patients earlier in the disease cycle without subjecting patients to unnecessary complication risk. The system also aims to deliver throughput efficiency that hospitals can capitalize on. Finally, the IG4 products hope to move cancer treatment earlier in the disease cycle, which is far more economical and beneficial than expensive later stage surgeries and medicines.

"We are very pleased about our investment in Veran, which allows the company to execute and drive adoption of its products," said Greg Johnson, managing director at Prolog Ventures. "There is no doubt that early detection and treatment is the key to cancer care. Veran's products intend to fill a very critical need in medicine today. We believe that Veran's products will be instrumental in improving the efficacy of therapies for certain diseases such as lung cancer."

"We believe the value of Veran's product line is unique because it provides benefits for patients, physicians, hospitals and ultimately taxpayers," said Jeremy R. Degenhart, senior vice president at Advantage Capital Partners.

About Veran Medical Technologies, Inc.

Veran Medical Technologies is a privately held image-guided medical device company focused on developing the next standard of care for minimally invasive delivery of interventional oncology therapies. Veran provides proprietary 4D registration capability for precise targeting of lesions via its FDA cleared platform. The Veran platform aims to reduce procedure times and increase accuracy, enabling clinicians to cost effectively treat patients with reduced co-morbidity risk. Veran Medical Technologies relocated from Nashville, Tennessee to St. Louis, Missouri.


'/>"/>
SOURCE Veran Medical Technologies
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. BioMS Medical to present at Rodman and Renshaw Global Healthcare Conference
2. USGI Medical Licenses Incisionless Surgery Technology to Intuitive Surgical
3. BioMS Medical Provides Update On Pipeline Products
4. ATS Medical to Participate at the Rodman & Renshaw 5th Annual Global Healthcare Conference
5. Millstone Medical Outsourcing Achieves Quality Advantages in Memphis: Certified ISO 13485, Hires Experienced Quality Manager
6. Inverness Medical Innovations Completes Acquisition of Matria Healthcare, Inc.
7. University Hospitals Case Medical Center, Cleveland, USA and Cardialysis BV, Rotterdam, the Netherlands Enter Strategic Alliance to Found Cardialysis Cleveland
8. Prescient Medical, Inc. to Present Data on Identification and Treatment of Rupture-Prone Coronary Plaques at EuroPCR 2008
9. Atrium Medical Receives FDA Approval for its Novel C-QUR Lite(TM) V-Patch and C-QUR Edge(TM) V-Patch
10. Mindray Medical International Announces First Quarter 2008 Results
11. Advanced BioHealing and Regenesis Biomedical Form Co-Promotion Alliance for Dermagraft(R)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/18/2017)... ... September 18, 2017 , ... USDM Life Sciences ... the life sciences and healthcare industries, announces Bryan Coddington and ... Transformation in Medical Device – The Journey to FDA Compliant Field Service and ...
(Date:9/14/2017)... ... September 14, 2017 , ... ... introduces its flexible scientist program (FSP)-- a flexible business approach similar to ... which combines SSCI’s extensive project-based analytical and solid-state chemistry services and expertise ...
(Date:9/14/2017)... ... September 14, 2017 , ... ... its extensive experience with Health Economics and Outcomes Research (HEOR) and ‘big data’ ... testing. In 2014, US healthcare spending exceeded $3.0 trillion with nearly 1/3 spent ...
(Date:9/14/2017)... DC (PRWEB) , ... September 14, 2017 , ... AIM ... IT, Medical Tracking Systems Inc. has won the 2017 Case Study Competition for AIDC. ... technologies which provide benefits that decrease risk” and push the adoption of automated data ...
Breaking Biology Technology:
(Date:4/11/2017)... NXT-ID, Inc. (NASDAQ:   NXTD ) ... appointment of independent Directors Mr. Robin D. Richards ... Directors, furthering the company,s corporate governance and expertise. ... Gino Pereira , Chief Executive ... their guidance and benefiting from their considerable expertise as we ...
(Date:4/4/2017)... 2017   EyeLock LLC , a leader of ... States Patent and Trademark Office (USPTO) has issued U.S. ... of an iris image with a face image acquired ... company,s 45 th issued patent. ... given the multi-modal biometric capabilities that have recently come ...
(Date:3/29/2017)... CHICAGO , March 29, 2017  higi, the ... ecosystem in North America , today ... Partners and the acquisition of EveryMove. The new investment ... extensive set of tools to transform population health activities ... and lifestyle data. higi collects and secures ...
Breaking Biology News(10 mins):