Broncus Medical Closes Series A Financing from Intuitive Surgical
SAN JOSE, Calif.--(BUSINESS WIRE)--Jun 12, 2018--Broncus Medical, Inc., developer of diagnostic and therapeutic technology for lung disease, today announced the closing of a Series A round of $15 million from Intuitive Surgical, the pioneer and a global technology leader in minimally invasive robotic-assisted surgery.
The three-pronged investment from Intuitive includes the equity investment, along with a technology development collaboration, and licensing of Broncus Medical’s intellectual properties, which can be utilized in the development of technologies focused on diagnostic and therapeutic lung procedures.
The fund will be used for continued product development of the company’s suite of lung cancer technologies and execution of clinical trials to support the commercial business. This includes execution of on-going EAST 2 (Evaluation of the Archimedes System for Transparenchymal Nodule Access 2), a Post-Market study that is currently enrolling up to 200 patients to validate performance of the company’s technology for total lung navigation and tumor access, and multiple feasibility studies of investigational technology to bronchoscopically treat lung cancer.
“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,” said Broncus Holding Chairman Michael Zhao.
Broncus Medical has built a solid portfolio of intellectual properties and technologies to enable bronchoscopic access to nodules anywhere in the lung, as well as treatment for major lung diseases including lung cancer and emphysema. The company’s combined use of Fused Fluoroscopy, real-time bronchoscopy, and virtual bronchoscopic navigation provides a three-dimensional view within the lungs, improving accuracy and enabling a direct access to the nodule for diagnosis and treatment.
About Intuitive Surgical, Inc.
Intuitive Surgical, Inc. (Nasdaq:ISRG), headquartered in Sunnyvale, Calif., is the pioneer and a global technology leader in robotic-assisted, minimally invasive surgery. Intuitive develops, manufactures and markets the da Vinci surgical system. The company strives to make surgery more effective, less invasive and easier on surgeons, patients and their families.
About Broncus Medical, Inc.
Broncus Medical, Inc. is dedicated to the development of diagnostic and therapeutic technology for lung disease. Founded in 2012, the company’s primary technology platforms focus on the diagnosis of lung cancer and the treatment of emphysema. Its lung cancer portfolio includes the Archimedes™ System, Archimedes™ Planner, LungPoint® Virtual Bronchoscopic Navigation (VBN) System, LungPoint® Planner and FleXNeedle®.
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CONTACT: Chronic Communications, Inc.
Michelle McAdam, 310-902-1274
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES ONCOLOGY GENERAL HEALTH
SOURCE: Broncus Medical, Inc.
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PUB: 06/12/2018 08:00 AM/DISC: 06/12/2018 08:01 AM