ControlRad said today that it completed a $15 million Series B round for the commercial launch of its Trace system for reducing radiation in fluoroscopically guided procedures.
Norcross, Ga.-based ControlRad’s Trace system is the first FDA-cleared technology that can be integrated into existing mobile C-arms to reduce the ionizing radiation that can occur in FGP. The Trace technology reduces radiation exposure by up to 89%, according to previous clinical trials.
The Trace system uses a proprietary semi-transparent filter, along with its tablet and image processing technology for retrofitting on existing C-arms in radiation reduction. It’s designed to allow medical professionals to draw a region of interest on the ControlRad tablet, which optimizes image quality in the region of interest while reducing radiation in the periphery.
The Series B round was led by Questa Capital, with founder & principal Ryan Drant and ex-Cartiva president, CEO & co-founder Tim Patrick joining its board.
“The investment from Questa Capital and the additions of Ryan and Tim to the board will be invaluable as we begin the launch of ControlRad Trace and build out our commercial organization,” CEO Guillaume Bailliard said in prepared remarks. “Both have proven track records of launching innovative technologies and building great teams.”
“The opportunity to invest in ControlRad highlights our commitment to funding and supporting technologies that will have an immediate impact on the health and wellness of patients and medical staff,” Drant added. “Guillaume and the team have made enormous progress recently with regulatory clearance and initial clinical use. We look forward to the growth of this company and to a time when every hospital will have the opportunity to reduce radiation exposure and its potential debilitating effects, such as cataracts, cancer and stroke.”