Cambridge-based startup Endomag, has raised a £15M Series D led by Draper Esprit, which was supported by existing investors Sussex Place Ventures among others. This investment brings the company’s total funding to over £32 million.
Endomag’s technologies use non-invasive magnetic sensing to locate and stage breast cancer and have helped over 130,000 women across the world receive more precise and less invasive cancer treatment. At the heart of the company’s product offering is the Sentimag localisation system. The system features a probe which is used like a metal detector by surgeons to accurately locate a breast tumour during surgery with Endomag’s magnetic seed (Magseed) or help determine if that cancer has spread using its liquid tracer (Magtrace). Endomag’s technologies have enabled globally leading surgeons to develop completely new techniques that benefit breast cancer patients.
The new funding will be used for expanding access to new advanced techniques enabled by its products, such as targeted axillary dissection (TAD) and delayed sentinel lymph node biopsy (dSLNB). The funds will also be used to scale its product offering, market reach and employees.
“We feel privileged to have maintained our growth while continuing to support hospitals, doctors and their patients during these uncertain times. We’re also fortunate to have investors that recognise our opportunity to lead the market while continuing to make a difference for people living with breast cancer”, said Endomag’s Chief Executive Officer, Eric Mayes commenting on the financing.