COMMERCIALIZATION: Millions raised to fund commercial OCT development

NinePoint Medical, Inc. has raised $33 million—in a Series A round led by Third Rock Ventures and Prospect Venture Partners—to further develop its in-vivo OCT pathology platform and commercialize a range of medical devices. Though the technology promises broad applicability across a number of diagnostic and therapeutic categories, the company will focus initially on gastrointestinal applications. Its first goal is to develop a device that enables telepathology—that is, allows gastroenterologists and offsite pathologists to review immediately, in real time, advanced tissue images during diagnostic and therapeutic procedures. Thus, the technology will potentially provide physicians with immediately actionable information and, eventually, the ability to treat at the time of diagnosis.

NinePoint has established corporate headquarters in Cambridge, MA, where Charles Carignan, M.D., serves as president and CEO. Carignan has more than 20 years of experience in medical device development, having previously served as executive vice president and chief medical officer at Novasys Medical, Inc., chief medical officer at Boston Scientific, and more.

The company also plans to hire approximately 25 people before the end of 2011, and eventually intends to run a manufacturing facility at its Cambridge headquarters. NinePoint Medical is the first medical device company that Third Rock Ventures has seeded and launched,

Meanwhile, Avinger, Inc. (www.avinger.com), manufacturer of multi-functional catheters for treating peripheral artery disease (PAD), recently completed a $25 million Series B round of funding that is helping to complete development of catheters that integrate OCT-based, real-time visualization of arterial blockages—and to accelerate commercialization of guide wire support catheters. Among the items in Avinger's pipeline of devices that merge therapeutic and intravascular visualization into a single catheter is the Ocelot, which incorporates OCT to cross, or move through, the most challenging lesions in PAD patients. The Ocelot completed a successful first-in-man feasibility trial in Poland in August 2010.

In conjunction with the financing, the company appointed Mr. Kenneth Novack, former Chairman of Schnitzer Steel Industries (NASDQ: SCHN), as Chairman of Avinger's board of directors. Avinger is the eighth company founded by John B. Simpson, Ph.D., M.D., an interventional cardiologist and medical device entrepreneur, whose efforts have produced advanced therapies in multiple areas. His other companies have been sold to larger companies; two to Eli Lilly and Co.

More BioOptics World Current Issue Articles
More BioOptics World Archives Issue Articles

Get All the BioOptics World News Delivered to Your Inbox

Subscribe to BioOptics World Magazine or email newsletter today at no cost and receive the latest news and information.

 Subscribe Now
Related Articles

Merz acquires laser tattoo removal device maker ON Light Sciences

Merz North America has acquired ON Light Sciences, which develops technologies to enhance laser-based dermatology procedures.

Shortwave-infrared device could improve ear infection diagnosis

An otoscope-like device that could improve ear infection diagnosis uses shortwave-infrared light instead of visible light.

Laser therapy extracts rare tumor that grew human hair, skin in boy's skull

About four years ago, a tumor comprised of human skin, hair, bone and cartilage was fast-growing inside a Ramsey, MN, 10-year-old youth's brain.

Low-level laser therapy could speed muscle recovery at Rio 2016 Olympics

The gold medal-winning women’s U.S. Gymnastics team is reportedly experimenting with infrared light therapy to alleviate pain and reduce swelling in its athletes. (Update: A spokesperson for ...
BLOGS

Neuro15 exhibitors meet exacting demands: Part 2

Increasingly, neuroscientists are working with researchers in disciplines such as chemistry and p...

Why be free?

A successful career contributed to keeping OpticalRayTracer—an optical design software program—fr...

LASER Munich 2015 is bio-bent

LASER World of Photonics 2015 included the European Conferences on Biomedical Optics among its si...

White Papers

Understanding Optical Filters

Optical filters can be used to attenuate or enhance an image, transmit or reflect specific wavele...

How can I find the right digital camera for my microscopy application?

Nowadays, image processing is found in a wide range of optical microscopy applications. Examples ...

CONNECT WITH US

            

Twitter- BioOptics World

Copyright © 2007-2016. PennWell Corporation, Tulsa, OK. All Rights Reserved.PRIVACY POLICY | TERMS AND CONDITIONS