Dec 31 2014
Lightpoint Medical, a developer of innovative surgical imaging technologies, announced today that the company has raised £2 million ($3.1 million) in a Series A financing round. Investors included Oxford Technology and leading business angel networks Cambridge Capital Group, London Business Angels, Envestors, Ruffena Capital, and crowdfunding platform SyndicateRoom.
Lightpoint Medical has developed a groundbreaking medical imaging technology to help surgeons detect cancer in real-time during surgery and reduce the need for repeat operations. The company has clinical trials underway in breast, prostate, and stomach cancer. Lightpoint Medical will use the investment funding to bring its two lead products LightPath™ and EnLight™ to the US and European markets in 2015.
Dr David Tuch, CEO of Lightpoint Medical, commented "We're delighted to have secured funding from previous investors Oxford Technology as well as from some of the leading angel networks in the UK. This equity investment complements our substantial grant funding from FP7 and Innovate UK and our development contract with SBRI Healthcare. The funding will help bring our two lead products to market and more importantly transform the lives of cancer patients."
Goncalo de Vasconcelos, CEO of SyndicateRoom commented, "Lightpoint Medical attracted an enormous amount of interest from SyndicateRoom investors due to both the investment opportunity and the quality of the management team. It came without a surprise that the funding round was completely oversubscribed."
"Being an investor in Lightpoint has been a pleasure," remarked Lucius Cary, Managing Director of Oxford Technology. "From the initial investment, everything has gone better than expected. This happens only rarely. In Lightpoint's case, the technology has worked. More grants have been received than initially hoped. It has been easy to attract new investors. Most importantly, surgeons have been enthusiastic about using the technology since it has the potential to dramatically improve outcomes for their patients."