Herzliya-based Super Dimension, which is developing medical devices for surgical and diagnostics use, today announced that it had raised $13 million in a new round of financing.
The round was led by Medica Venture Partners of Herzliya, as well as by Boston based firms Mi3 Venture Capital and Oxford Bioscience Partners. Israel’s Pitango Venture Capital and longtime Super Dimension investor Gemini Israel Funds also participated in the round. LifeScience Transaction Support assisted with the deal.
Super Dimension is developing minimally-invasive solutions for the diagnosis and treatment of lung diseases (among them cancer, emphysema and tuberculosis) via guided bronchscopy.
The company offers a turnkey navigation system combining technologies in the areas of electromagnetic localization for medical applications, image processing, image registration and endoscopic tools.
Super Dimension says it will use the newly-raised funds to commercialize its diagnostic application and further the development of therapeutic tools and methods of a minimally invasive nature.
Pitango Venture Capital HealthCare VP Dr. Nissim Darvish said Super Dimension resolved a critical and currently-unmet need. “Traditional bronchoscopy is blind when it comes to the peripheral areas of the lungs, where most lesions are in fact, situated but where the bronchoscope itself cannot reach. Consequently, success rates are low, false results are common, and invasive procedures are often opted for at high risk to the patient and substantial cost to the provider.
“Super Dimension turns traditional bronchscopy into one that is guided in real time on a three-dimensional image-generated roadmap. It enables successful navigation anywhere in the lungs, for both diagnostic and therapeutics purposes in a minimally-invasive manner,” Darvish stated.
Mi3 managing general partner Bill McPhee said, “The beauty of the Super Dimension solution is that it is highly intuitive and operates seamlessly with standard endoscopes and endoscopic tools from any vendor. Coupled with being first to enter the marketplace, this makes for an extremely interesting proposition with outstanding market potential."
Published by Globes [online] - www.globes.co.il - on 26 January, 2003