Limaca Medical raises $1.25 million

Editor’s note: News of this investment appeared in Yahoo Finance, CTech and GeekTime

Professor Iyad Khamaysi using Limaca’s Precision(TM) in first-in-human study at the advanced endoscopy unit of the gastroenterological department of RAMBAM Health Care Campus, Haifa, Israel

Limaca Medical, announced it has closed $1.25 million of a  $1.5 million round to complete first-in-human procedures, post-market clinical studies, and obtain regulatory approvals.

Limaca raised $1.25 million from Trendlines, Agriline (ultimately owned by a trust of which Vincent Tchenguiz is a discretionary beneficiary ), Limaca Chairman and medical device industry veteran Carl Rickenbaugh, and a private investor.

The Precision™ biopsy device developed by Limaca deploys an automated revolving needle to acquire high-quality core tissue for histopathology and advanced genetic profiling. The Precision device makes it possible to acquire biopsy tissue samples at ten times greater procedural efficiency with less trauma than today’s endoscopic standard of care for greater diagnostic accuracy and patient-specific treatment to achieve better clinical outcomes.

Limaca’s CEO Assaf Klein commented,

We designed Precision to improve upon endoscopic biopsies and make a substantial leap forward in this critical diagnostic procedure to advance  precision treatment and achieve superior outcomes for cancer patients.

Professor Iyad Khamaysi, Director, Invasive Endoscopy Unit, Rambam Health Care, and one of Limaca’s founders, states,

To date, 10 patients have been enrolled in Limaca’s FIH study at the Rambam Health Care Campus in Israel. The FIH study compares Limaca’s Precision to standard of care EUS biopsy devices. Results have demonstrated excellent ease of use, safety, and improved sample capture. Precision exceeded all clinical expectations for endoscopic biopsy while demonstrating clear safety in our cases.

Read the full press release here.