Toronto-based Perimeter Medical Imaging, a company that develops real-time imaging systems for in-surgery tissue assessment, has managed to close $5 million in Series A funding.
The round was led by Roadmap Capital, with participation from EPIC Capital, NorthView Ventures and Pathfinder Asset Management.
The funds will support the completion of their current clinical study at the Princess Margaret Cancer Centre, as well as product development and FDA regulatory clearance for their first tissue imaging product.
“As Perimeter continues to grow, it is critical that we surround ourselves with experienced partners who will help us lay the foundation for our future success,” said Paul Weber, Perimeter’s president and CEO. “We have been lucky to engage a strong investor base and this partnership has opened many doors for Perimeter, allowing us to accelerate development and commercialization of this important tissue margin assessment solution.”
Perimeter’s Optical Tissue Imaging System (OTIS) is an intraoperative medical imaging tool that allows clinicians to visualize the entire perimeter of excised tissue during surgery. It provide surgeons with the ability to assess whether there are any areas that require additional attention during the initial surgical procedure, reducing the need for unnecessary and costly second surgeries.
