NinePoint Medical Completes $34 Million Series B Financing to Expand Commercialization of its Breakthrough NvisionVLE™ Imag...
20 Março 2014 - 8:00AM
Business Wire
NinePoint Medical, Inc., an emerging leader in the development
of medical devices for advanced optical imaging, today announced it
has completed a $34 million Series B financing led by Corning
Incorporated (NYSE: GLW), along with founding investors Third Rock
Ventures and Prospect Venture Partners. The company also announced
the addition of three new members to its board of directors: Curt
Weinstein from Corning, and independent directors Tom Miller and
Mark Stautberg.
Proceeds from the financing will support the ongoing commercial
launch of the NvisionVLE Imaging System in the U.S., as well as
development of the company’s expanded product offering.
“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,” said Charles S. Carignan, M.D.,
president and CEO of NinePoint Medical. “With new hospitals
adopting the technology every month, and with the support of our
investors and strategic guidance of our board, we can continue to
expand our sales force to facilitate the adoption of NvisionVLE at
more centers. Hospitals from New England, to Florida, to California
are already offering this advanced imaging technology. We will
continue to build out our operational capacity to meet the
increasing demand for our products, while also working on new
features and product offerings for the future.”
Originally developed at the Wellman Center for Photomedicine at
The Massachusetts General Hospital (MGH), NinePoint licensed the
imaging technology from MGH in 2010 as part of the largest
intellectual property agreement for medical device technology in
the hospital’s history. The NvisionVLE Imaging System enables
physicians and pathologists to endoscopically view, for the first
time, real-time, high-resolution, cross sectional images of organs
and tissues up to 3mm deep at better than 10 micron resolution.
“We are looking forward to being a part of NinePoint Medical’s
success in bringing this new imaging technology to market,” said
Curt Weinstein, vice president and general manager, Corning
Advanced Optics and Specialty Materials. “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.”
Further expanding the expertise on the board of directors, Mr.
Miller has previously held senior positions with Siemens, Carl
Zeiss, Analogic Corporation and LightLab Imaging, and brings a
wealth of international operating experience to NinePoint’s board
of directors. Mr. Stautberg joins NinePoint’s board with more than
30 years of medical device sales and marketing experience from
Boston Scientific Corporation and Baxter Healthcare, and currently
serves as a director on the board of Baxano Surgical.
About The NvisionVLE™ Imaging System
NinePoint Medical’s proprietary NvisionVLE Imaging System
enables physicians and pathologists to endoscopically view
real-time, high-resolution, volumetric images of organs and tissues
up to 3mm deep at better than 10 micron resolution. Utilizing an
advanced form of Fourier-domain optical coherence tomography
(FD-OCT) also known as OFDI (optical frequency-domain imaging),
NvisionVLE provides treating physicians and pathologists with
cross-sectional, volumetric digital images of a patient’s organ –
including below the surface of the tissue, over very large areas.
This imaging information can be used to aid clinician
decision-making relative to biopsy placement or treatment planning.
The NvisionVLE Imaging System is indicated for use as an imaging
tool in the evaluation of human tissue microstructure, including
esophageal tissue microstructure, by providing two-dimensional,
cross-sectional, real-time depth visualization. The safety and
effectiveness of this device for diagnostic analysis (i.e.
differentiating normal versus specific abnormalities) in any tissue
microstructure or specific disease has not been evaluated.
Developed at the Wellman Center for Photomedicine at
Massachusetts General Hospital (MGH), NinePoint licensed the
technology in 2010 as part of the largest intellectual property
agreement for medical device technology in the hospital’s
history.
About NinePoint Medical, Inc.
NinePoint Medical is positioned to improve patient care through
the development of medical devices that enable high resolution
in-vivo imaging. The Company was founded on the ideal of
convergence, of developing products that could bring together
access, diagnosis and treatment. Founded in 2009 with an initial
Series A of $33 million, the Company licensed the fundamental
optical coherence tomography (OCT) technology from The
Massachusetts General Hospital (MGH) in 2010 and received its first
510(k) clearance from the U.S. Food and Drug Administration in
December 2011. NinePoint launched its lead product, the NvisionVLE™
Imaging System, in the U.S. in May 2013. NinePoint is headquartered
in Cambridge, Mass. For more information, please visit
www.ninepointmedical.com.
About Corning Incorporated
Corning Incorporated (www.corning.com) is the world leader in
specialty glass and ceramics. Drawing on more than 160 years of
materials science and process engineering knowledge, Corning
creates and makes keystone components that enable high-technology
systems for consumer electronics, mobile emissions control,
telecommunications and life sciences. Our products include glass
substrates for LCD televisions, computer monitors and laptops;
ceramic substrates and filters for mobile emission control systems;
optical fiber, cable, hardware & equipment for
telecommunications networks; optical biosensors for drug discovery;
and other advanced optics and specialty glass solutions for a
number of industries including semiconductor, aerospace, defense,
astronomy, and metrology.
NinePoint Medical, Inc. Communications Contact:Pure
Communications, Inc.Katie Wilson, 910-509-3977orCorning
Communications Contact:Joe Dunning,
607-974-5006dunningjm@corning.com
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