The company's patient-centric solution, excellent management team and pioneering vision are why we are excited to lead an £8m investment Endomag's series C round.
Cancer is the second leading cause of death globally, with almost 1 in 6 deaths and the loss of 8.9 million lives in 2016 due to the disease. In a report released by IMS Health Holdings, the cost of cancer medicines and treatment plans is expected to exceed $150 billion by 2020. Historically, diseases such as breast cancer have been treated using surgical methods, whereby surgeons excise tumours with a large enough ‘safe zone’ to ensure the cancer cells are removed. Often, this can result in patients undergoing several surgeries or even a mastectomy.
Recent technology and innovations within surgical treatment has resulted in intraoperative devices able to detect, with greater accuracy, where breast cancer tissue begins and ends. For patients, this surgical technology reduces the risk of multiple surgeries or full breast removal.
A company at the forefront of this type of cancer treatment is Endomag, a hardware tech product which aims to remove the major barriers to access for the standard of diagnostic and therapeutic care. Through developing a platform of magnetic devices that avoids the safety, workflow and availability concerns of ionizing radiation, Endomag has provided superior experiences to breast cancer patients receiving treatment throughout the UK and US.
The company's patient-centric solution, excellent management team and pioneering vision are why we are excited to lead an £8m investment in its series C round.
“We all know someone who has been affected by cancer, so having access to better cancer care benefits us all. Endomag is really kickstarting a revolution in how surgeons target the removal of tumours, something they’ve already demonstrated for breast cancer treatment. We’ve known about Endomag for a number of years and are excited to partner together.” – Vishal Gulati, Venture Partner
Endomag is pioneering the use of magnetic sensing for minimally-invasive surgical guidance to ensure cancer can be targeted and removed more accurately. Their products address unmet clinical needs in availability, workflow efficiency and surgical accuracy to provide a better experience for patients with breast cancer. With this investment, Endomag will focus on rapidly expanding its commercial activity in all markets and push ahead with planned product development.
We are very excited to be part of the Endomag story in supporting the team on their way to making healthcare and surgical cancer treatment accessible to all patients.