An Eden Prairie-based medtech company developing a means of targeting tumors during cancer surgery has raised $42.5 million in a Series C funding round led by Vensana Capital and RC Capital.
Elucent Medical will use the funding for the development and commercialization of its EnVisio and SmartClip technologies, used in tissue-sparing cancer surgeries.
The surgeon embeds a SmartClip device, which emits an electromagnetic signature that provides coordinates, inside a patient to mark tissue. The SmartClip is about the size of a grain of rice. Surgeons use 3-D indications to mark the location of cancerous tissue that needs to be removed. The EnVisio Navigation System locates the precise coordinates of the embedded SmartClip.
EnVisio is currently used to guide surgeons in the surgical treatment of breast cancer, while adoption of the technology has expanded to address other soft-tissue, cancer surgeries.
Elucent is currently developing products to assist surgeons in their pursuit of "margin negative resections" in lung and other soft tissue clinical applications. A margin is a border of normal tissue surrounding a tumor that's removed during cancer surgery. When the pathologist finds no cancer cells at the edge of the tissue, the margin is considered "negative" or "clean."
Last year, Elucent Medical expanded its manufacturing space and added customer training center after leasing 27,000 square feet in Eden Prairie. Additionally the company named its new CEO and President Jason Pesterfield and Kirk G. Jacquay as the company’s new Chief Finance Officer. Both came from Optellum, a startup medtech AI software company.
