The investment comes in three parts, including the $15 million equity investment, a technology development collaborative agreement and a licensing deal that will put Broncus Medical’s intellectual properties in Sunnyvale, Calif.-based Intuitive’s hands.
Broncus Medical is developing technologies focused on diagnostic and therapeutic lung procedures, and will use funds from the round to support continued development of its lung cancer tech, including clinical trials. The company is currently engaged in a post-market study exploring the performance of Broncus’ tech for total lung navigation procedures and tumor access.
“We are delighted to build a relationship with an industry leader like Intuitive, that shares our vision of bringing greater visibility and precision to lung cancer diagnosis and treatment, in order to benefit patients,” Broncus Holding chair Michael Zhao said in a prepared statement.
The company touted that it has combined the use of fused fluoroscopy, real-time bronchoscopy and virtual bronchoscopic navigation to provide 3D views within the lungs to improve accuracy and enable more accurate access to nodules for diagnosis and treatment.