NinePoint Medical Inc secures $34M in Series B funding round
Cambridge, Massachusetts-based NinePoint Medical Inc obtained $34 million for its Series B funding round, a statement about the financing said.
The funding round was led by Corning Inc and participated in by founding backers Third Rock Ventures and Prospect Venture Partners. The most recent funding round will be deployed towards the continuing commercial introduction in the US of its NvisionVLE Imaging System. It will also be used to develop its growing line of product offers, the report said.
As part of the deal, Curt Weinstein of Corning will be joining the Board of Directors of NinePoint Medical. He will also be joined by Tom Miller and Mark Stautberg who will serve as two independent directors of the board, the statement said.
NinePoint Medical President and Chief Executive Officer Charles S. Carignan, MD said in the statement, "The NvisionVLE Imaging System is an exciting new imaging technology that is enabling physicians to visualize esophageal abnormalities at and below the mucosal surface, helping inform clinical decision-making."
Through the NvisionVLE Imaging System, doctors and pathologists are able to get a real-time endoscopic view of the cross-sectional images of organs and tissues to as much as 3 mm deep. With a resolution of better than 10 micron, this the first time that such a high-resolution is available for these images, the statement said.
Carignan said that each month, more hospitals are added to the list of NvisionVLE technology users, with hospitals from New England to Florida to California already making the technology available.
Corning Advanced Optics and Specialty Materials Vice President and General Manager Curt Weinstein said in the statement, "We are looking forward to being a part of NinePoint Medical's success in bringing this new imaging technology to market. We are excited to bring Corning's long history of excellence in the development of optics to NinePoint to help develop industry leading devices for OCT imaging that add to the clinical care of patients."