Ascenion’s portfolio company iThera Medical announces the successful closure of a EUR 13 million investment round, led by TRUMPF Venture with participation by the EIC Fund and further existing investors. The funding will be used especially for the translation of the company’s novel medical imaging technology into a routine clinical environment aiming at offering clinicians worldwide a powerful new diagnostic tool.
iThera Medical, incorporated in 2010, has developed Multispectral Optoacoustic Tomography (MSOT), a breakthrough imaging technology for diagnostic clinical use. Optoacoustic imaging utilizes the photoacoustic effect – the conversion of light energy into acoustic signals – to visualize and quantify optical contrast in deep tissue, at high spatial and temporal resolution. MSOT has already demonstrated its potential clinical value in a wide variety of disease areas including cancer, inflammatory, fibrotic, and cardiovascular diseases and is currently used for clinical research at leading academic hospitals worldwide.
The proceeds from this new funding round will be used to develop a next-generation MSOT device optimized for routine clinical use, to secure regulatory approval for deployment in Europe and the United States (CE and FDA approval), and to significantly expand clinical evidence in priority clinical indications.
Further information: iThera Medical’s press release