July 18, 2013 — Gamma Medica Inc. has closed a $16 million Series A financing round from healthcare investment firm Psilos Group Managers LLC. This investment will enable Gamma Medica to expand commercialization of the LumaGEM Molecular Breast Imaging (MBI) system and its companion product the LumaGUIDE MBI-guided biopsy module.
LumaGEM is a fully digital molecular imaging system that highlights tumors obscured by dense breast tissue. As an effective secondary diagnostic tool, the LumaGEM system enables radiologists to detect early-stage cancers that are missed by mammography in women with dense breasts. Approximately 40 percent of women have dense breast tissue and few are aware that mammography screening is unlikely to identify early-stage cancers. Nine states have already passed laws requiring doctors to inform patients about their dense breast tissue and to guide them to more effective modalities for diagnostic screening.
LumaGEM is designed for patient-friendly exams and has been clinically proven to provide greater than 90 percent sensitivity and specificity as an adjunct to mammography for early detection of breast cancer in dense breasts.
With its recent $16 million Series A funding commitment, Psilos has brought its total investment in Gamma Medica to more than $20 million. Proceeds from the round will also be used to fund additional multi-site post-market clinical studies involving several of the leading academic research institutions in the United States.