ARTICLE | Financial News

Lumicell raises $28.7M series C, reports breast cancer detection data

December 8, 2017 9:06 PM UTC

Cancer imaging company Lumicell Inc. (Wellesley, Mass.) raised $28.7 million on Dec. 7 in a series C round led by new investors Launch Capital and BlueIO. Existing investor Kodiak also participated, as did other undisclosed investors. Lumicell said the funds will be used to advance its LUM System into a Phase III trial in breast cancer, as well as to expand clinical trials of the integrated imaging-guided cancer surgery system in prostate, colorectal, esophageal and pancreatic cancers.

The LUM System combines a cathepsin-activated fluorescent optical contrast agent, a hand-held imaging device and decision software to help guide removal of cancer cells remaining in the cavity in real-time during surgery. Lumicell said the LUM System has the potential to significantly improve surgical outcomes and reduce healthcare costs by eliminating the need for repeat surgeries...

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