biospace med raises $18M to accelerate market penetration of EOS imaging system in North America and Europe

biospace med (www.biospacemed.com) announced today that it has raised $18 million to accelerate market expansion in North America and Europe of the company's FDA-cleared EOS ultra-low-dose 2D/3D imaging system.

“This cash infusion comes on the heels of EOS being installed in two preeminent U.S. pediatric specialty hospitals, in San Diego (Rady Children's Hospital) and Milwaukee (Wisconsin Children's Hospital), while the number of EOS imager installations continues to increase in Europe.”

The round included existing investors Edmond de Rothschild Investment Partners (Paris), Crédit Agricole Private Equity (Paris), UFG Private Equity (Paris), NBGI Ventures (London), COFA Invest (Paris); and new investor CDC Entreprises, acting on behalf of the SIF (Strategic Investment Fund).

"We are particularly pleased to welcome CDC Entreprises as a new shareholder in the company, and to acknowledge the renewed confidence of our current shareholders. This new fundraising will allow us to accelerate the market penetration of EOS in North America and Europe, so that this revolutionary musculoskeletal imaging modality can become a routine clinical tool," said Dr. Marie Meynadier, CEO of biospace med. "This cash infusion comes on the heels of EOS being installed in two preeminent U.S. pediatric specialty hospitals, in San Diego (Rady Children's Hospital) and Milwaukee (Wisconsin Children's Hospital), while the number of EOS imager installations continues to increase in Europe."

EOS is a novel medical imaging technique that allows full-body 2D and 3D imaging of patients using radiation doses up to 89% lower than those required for a standard CR (computed radiography) X-ray¹. EOS is a revolutionary solution to reduce irradiation linked to radiological investigations, which has risen by 600% over the past twenty years. The benefits of EOS are particularly important in pediatrics, because children undergo X-rays throughout their development, when their organs are highly susceptible to ionizing radiation. EOS is also significantly beneficial in adults who do not wish to be exposed to ionizing radiation during standard X-rays or CT scans.

EOS targets particularly the diagnosis, follow-up, preoperative assessment and postoperative follow-up of degenerative diseases and bone and joint deformities. Indeed, EOS allows full-body and three-dimensional (3D) images of the human skeleton thanks to software that reconstructs and models a patient's bones from just two simultaneous images. This software also generates 3D measurements (lengths, angles) automatically, and can calculate a broad range of clinical parameters, some of which were hitherto inaccessible, but which are essential to diagnosis and surgical planning. The images and clinical parameters are obtained in standing or seated weight-bearing positions and thus reflect the bone and joint status of the patient's posture.

"We are impressed by the quality of what biospace med has to offer and are delighted to facilitate its international development, because we are convinced that its innovative technology and management team will exert a strong impact on the medical imaging market. biospace med thus joins the 570 or so companies already accredited by SIF," said Marie-Laure Garrigues, Investment Director at CDC Entreprises.