SamanTree Medical raises CHF 9.5m in Series A round

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07.05.2019
Histolog Scanner

Recently, SamanTree’s patented Histolog Scanner v2 for enabling precise tumor removal at first surgery received the CE Mark. Today, the Lausanne based startup has raised its CHF 9.5 million in a Series A financing round to commercialize the patented Histolog system.

Panakès Partners, the Medtech European leading venture capital mixing strong corporate and investment expertise, led the round, alongside the Sioux Tech Fund, the venture arm of Sioux Technologies, a specialist in high-tech manufacturing, software development and data analytics. Existing shareholders and new investors BOM Brabant Ventures and btov Partners also participated in SamanTree’s round.

The proceeding of the round will enable SamanTree to commercialize its Histolog scanner, a disruptive imaging modality and data analytics solution for improving cancer treatment care. Focusing on breast cancer, the EPFL Spinoff addresses a market in which more than 500,000 lumpectomies are performed annually in the USA and Europe alone. In 25% of the cases, re-operation is required, resulting in annual costs of $2.7 billion.

Furthermore, surgeons face a difficult trade-off between maximize confidence in the removal of the entire tumor and minimize the removal of healthy tissue. The “Gold Standard” for margin assessment is histopathology microscopy; however, the laboratory results are not available until days after surgery. Thus, surgeons need faster support for margin assessment in the operating room, ideally in real-time and with accuracy comparable to this “Gold Standard”.

The Histolog scanner developed by SamanTree addresses these needs by enabling real-time histology of all tissue types. The scanner allows for global mapping of a lumpectomy for full margin control with histology-grade confidence in a few minutes before the closing the incision. With the solution, the clinician is one touch-on-the-screen away from visualizing cancerous cell on a surgical specimen immediately during surgery. Besides enhancing the decision-making process during the surgery, this solution carries the promise of better patient care, by increasing the confidence in a complete tumor removal at first surgery.

In line with the financing round, SamanTree welcomed two members to its Board of Directors; Arnoud de Geus, Director of New Business Development at Sioux to its Board of Directors, and Fabrizio Landi, Managing Partner at Panakès, former General Manager and one of the founders of Esaote Medical Imaging.

 (Press release)

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