News | January 20, 2015

Veran Medical Completes $12 Million in Financing For Lung Cancer System

Funds to support commercial expansion in the U.S. and international launch of the Thoracic Navigation System

Lung cancer, Biopsy System, Thoracic Navigation System

Image courtesy of Veran Medical

January 20, 2015 — Veran Medical Technologies announced the completion of a $12 million financing to support the company's continued commercial expansion in the United States and international launch of the Veran Thoracic Navigation System.

Jason Pesterfield, president and CEO of Veran Medical Technologies comments: "The development of a Thoracic Navigation System that combines electromagnetic navigation bronchoscopy (ENB) and the Veran SPiNPerc navigated percutaneous lung biopsy procedure, enables physicians to biopsy lung nodules whether they are inside or outside the airways with a single system in one procedure."

Lung cancer causes more deaths in men and women than colon, breast and prostate cancer combined. If lung cancer is diagnosed at Stage III or IV, the five-year survival rate is only 15 percent. With early detection, there can be an 88 percent survival rate at 10 years and a 92 percent survival rate with the immediate removal of the lesion. Prior to the development of Veran's Thoracic Navigation System, only 16 percent of lung cancer patients have been diagnosed at an early stage 3.

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