Dune Medical Devices, which identifies microscopic residual cancer in real-time, today announced the closing of a $12.3 million financing round led by Canepa Healthcare, ATON Partners, and the Kraft Group.
The company is based on Dune Medical’s proprietary radiofrequency (RF) spectroscopy platform, which will be applied to a variety of other cancers following the success of Dune’s first marketed product, the MarginProbe System. Dune Medical has offices in Caesarea and Alpharetta, Georgia.
The funds will be used to help Dune to establish a new standard of care with its existing MarginProbe System and to further develop their RF spectroscopy platform into other applications that has generated the confidence of new and existing investors.
Since receiving FDA approval, the MarginProbe System for use in breast cancer lumpectomy procedures, has successfully demonstrated a consistent and significant reduction in re-excisions when women undergo breast conserving surgery after a diagnosis of early-stage breast cancer. To date, three large randomized controlled trials and multiple additional peer reviewed publications have studied over 2,500 women who have undergone lumpectomy with MarginProbe showing a reduction in re-excision rates up to 79%. The impact of this reduction on quality, outcomes and cost is significant when data indicates that without effective margin assessment 20-30% of women who undergo lumpectomy for breast cancer will be faced with an additional surgical procedure to ensure negative margins.
“The syndicate of committed investors demonstrates high optimism around the company’s future,” said Dune Medical CEO Lori Chmura. “This financing round is a testament to the success of the revolutionary radiofrequency (RF) spectroscopy technology that created our first product, the MarginProbe system, and is the basis for our surgical oncology platform which is quickly becoming the standard of care in cancer treatment.”
In addition to use during breast cancer surgery, Dune’s RF spectroscopy platform is being explored for other applications and disease sites. In August 2016, Dune celebrated receipt of three million euros awarded by a prestigious EU Horizon 2020 grant to support the continued development of its RF spectroscopy based biopsy system.
Published by Globes [online], Israel business news - www.globes-online.com - on July 6, 2017
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