REHOVOT, Israel, May 29, 2019 /PRNewswire/ — Techsomed, developer of BioTrace™, the world’s first image analysis system for predicting post-treatment ablation morphology in real time, has secured $2.6M for further development towards obtaining FDA, PMDA, and CE regulatory approval.
The financing round was led by Johnson & Johnson Innovation – JJDC, Inc., with participation from existing and new investors: SCREEN Holdings (Japan), AMIT-Technion (the Alfred Mann Institute), NextLeap Ventures, and Axil Capital (Japan).
TRANSFORMING THERMAL ABLATION
Despite being the MIS modality of choice for indications such as cancerous solid tumors, heart arrhythmia, and chronic pain management, thermal ablation’s biggest hurdle to date is the inability to visualize and control actual tissue damage morphology in real time.
Using advanced proprietary AI and image analysis, Techsomed’s BioTrace™ system integrates with standard ultrasound devices to track the target tissue’s unique biological signature as it responds to heat during thermal ablation. This signature is used to visually simulate the post 24-hour thermal effect in real-time, thus enhancing the surgeon’s level of control and accuracy during the procedure.
The system transforms thermal ablation therapies from guesswork into precise, real-time, feedback-dependent treatments that minimize healthy tissue damage and maximize target tissue ablation, resulting in higher efficacy and lower recurrence rates.
According to Fred Shane, Managing Partner of Axil Capital, “This investment signals our full confidence in Techsomed’s technology and abilities going forward. The BioTrace™ system targets and addresses an essential clinical need. We believe that overcoming surgical limitations through real-time predictive imaging will become the new standard of care, making thermal ablation safer and more effective.”
Says Techsomed founder and CEO Yossi Abu: “Techsomed’s BioTrace™ system was designed to empower surgeons to fully realize the potential in thermal ablation therapies by reducing potential complications. This latest round of financing will further empower us to develop and commercialize this critical technology.”
About Techsomed: Techsomed, a privately-held biotech company with headquarters in Israel, develops ultrasound-based real-time monitoring systems for thermal ablation procedures. Following the recent investment, TechsoMed will open a subsidiary in Japan, targeting commercialization in the Japanese and other Asian markets.
Talia Goshen, Biz Dev manager
TechsoMed Medical Technologies Ltd.