Body Vision Medical said today it has landed $8.5 million in funding to accelerate the commercialization of its LungVision lung navigation system in the U.S. and to extend its product line.
The Ramat Ha Sharon, Israel-based company specializes in lung cancer diagnostics through augmented real-time intra-body navigation and imaging. Its catheter is designed for use in conjunction with standard bronchoscopes and its LungVision system for guiding endotherapy accessories to small pulmonary nodules. LungVision’s catheter won FDA clearance in April. Its imaging and navigation system was cleared in May 2017.
“Today, in order to diagnose small peripheral lesions, the pulmonologist has to use several different imaging modalities such as computerized tomography, ultrasound and fluoroscopy,” said Body Vision CEO Dorian Averbuch in a prepared statement. “Each of these modalities has advantages and disadvantages; however, even a combination of all of the above was unable to improve significantly a poor diagnostic yield of small peripheral lung lesions.”
LungVision enables the pulmonologist to use all of the existing imaging modalities together, in real time, without changing or affecting the procedural flow, Averbuch added. The system allows the physician to plan the procedure, navigate to challenging locations and localize the lesion during biopsy.
“This complete solution will facilitate early stage diagnosis of lung cancer and, in addition, will pave the way for minimally invasive transcatheter therapeutics,” Averbuch said.
Company chairman Zohar Gilon led the financing round, which included about 20 of Israel’s tech entrepreneurs and investors.
“It’s been an immaculate journey to observe and support the company from the concept phase to where it is today, having two systems cleared by the FDA and solid clinical data from 400 patients in leading centers in the U.S.,” Gilon said. “From the very start, we believed that the company was tackling substantial unmet needs utilizing a very novel and very promising approach. Dorian and his world-class team will save a great number of lives, and almost as important, decrease and shorten many families’ pain and suffering.”