OmniGuide Surgical said it raised a $15 million funding round for its BeamPath surgical layer.
The Cambridge, Mass.-based medical device company said it plans to use the round to expand BeamPath’s footprint in the gynecological market and launch new ear, nose & throat products.
"This financing allows us to accelerate the commercialization of our advanced energy surgical products for the operating room," president & CEO Scott Flora said in prepared remarks. "We are excited to have the continued commitment and confidence of such a high quality group of investors – all of whom have been on board with us through numerous growth phases. We look forward to significantly advancing our commercial footprint with this new funding."
Prior backers including Stata Venture Partners, Argonaut and Electro Scientific Industries participated in the round, according to the release.
The BeamPath technology, developed at the Mass. Institute of Technology by co-founder Yoel Fink, allows photons from a CO2 laser to glide through the hollow core of OmniGuide’s proprietary fiber. The hollow core means there’s no medium for the laser to travel through, increasing the wavelengths the fibers transfer and creating a more precise beam. At a mere tens of microns wide, the beam is able to pass through flexible conduits into previously inaccessible areas of the body.
Late last year Flora told MassDevice.com that OmniGuide planned to use an earlier $35 million funding round to leverage the BeamPath footprint in ENT.
"We really want to invest the money in commercial talent and in product design talent, then in some beefing up of marketing and surgeon training and those types of things," Flora said.
OmniGuide is also working on a 3rd-generation fiber for robotic surgery applications, he said at the time.
"It’s as far as we can go with a polymer-in-glass fiber. It’s really delivering optimal results," he said. "So we’ll do robotics, then we’re going to go back and retro-fit ENT and then we’ll go back and retro-fit and bring a next generation of [laparoscopy] out."