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Medical device company superDimension raises $24.8 million September 14, 2010

Posted by israelhealthcare in Medical Device, Medical Diagnostic.
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Medical device company superDimension has raised $24.8 million in debt and equity financing in two separate transactions. The capital raise included a $9.8 million equity round of financing and a new $15 million credit facility with Oxford Finance. All of the Company’s existing investors participated in the equity financing, including OrbiMed Advisors, Oxford Biosciences Partners, Pitango Venture Capital, Medica Venture Partners, and Dan Sullivan Investments.

superDimension develops catheter based devices for use in the minimally invasive diagnosis and treatment of early stage lung cancer and other diseases, using the patient’s natural airways to avoid surgery. The superDimension i-Logic system enables physicians to diagnose benign and malignant lung lesions enhancing treatment decisions and avoiding the need for higher-risk procedures.

“Since its commercialization, our i-Logic system has experienced strong physician adoption. Electromagnetic navigation bronchoscopy (ENB) has been performed more than 14,500 times and is used in over 275 hospitals worldwide,” said Daniel J. Sullivan, president and CEO at superDimension. “This additional financing will allow us to further strengthen our commercial infrastructure and sales and marketing team, expanding the benefits of the i-Logic system and ENB to a wider patient population.”

Founded in 1995 by Pinhas Gilboa, superDimension is headquartered in Minneapolis, Minnesota, with other offices located in Dusseldorf, Germany, and Herzliya, Israel. The company has more than 100 employees worldwide.

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