Current Surgical, a provider of a precision-guided needle that helps doctors accurately destroy cancer tumors without harming surrounding healthy tissue, raises $3.2 million in Seed funding.
True Ventures led the investment round with participation from 1517 Fund and SciFounders.
Including the latest round, Current Surgical has raised $4 million in funding to date. The company intends to use the fresh capital to expand its precision cancer care platform, which has the potential to save the lives of millions of people around the world.
Cancer
Cancer continues to be a leading cause of death worldwide, with more than 18 million new cases detected every year. More than 50% of these cases are now detected at an early stage, yet curative options have not kept pace. For example, the only curative option for solid tumors is a surgical procedure. However, nearly 50% of patients are not eligible for surgery because the tumor is too difficult to remove without damaging surrounding organs. Chemotherapy and radiation therapies, with their associated side effects, therefore remain the most common treatment options, which are non-curative for most cancers.
Current Surgical is on a mission to eliminate cancer deaths by providing clinicians with hybrid intelligent surgical tools that allow them to accurately treat previously untreatable solid tumors. According to the company, its smart surgical needle technology combines high-resolution sensors and real-time image analysis into one tool, giving doctors precise control and feedback while destroying tumors. As a result, surgeons will be able to treat any solid tumor in any location — allowing millions of patients to receive curative surgery without the traditional limitations.
Commenting on the funding news announcement, Current Surgical CTO Chris Wagner said: “We’re excited about this technology not only for its curative potential, but also because of how easy it is to put into the hands of the surgeon.” “Since the technology is integrated into the needle, it doesn’t take a large, expensive operating room to actually help patients.”
Investors
True Ventures is a Silicon Valley-based venture capital firm that invests in early-stage technology startups. The firm has invested more than $500 million in digital health companies to date, according to database. Its investment portfolio includes – Athos, Deep Genomics, Endel, First Opinion, Fitbit, Framework, Ginger.io, Hatch Baby, Health Gorilla, Lumity, Murj, Sano Intelligence, Soundhawk, and Valencell.
“There’s so much to be excited about with Current Surgical,” said Natasha Sharma, principal at True Ventures. “Al and Chris have put their energy and deep experience with surgical robotics and biophysics into creating smart surgical needles that give surgeons’ eyes inside’ so they can work with greater precision, like never before. This team also has immense compassion for the patients and customers who will benefit. We seek that in founders, and we can’t wait to see this work come to life.”
Digital cancer care startups
Digital cancer care startups have attracted $3 million in venture capital funding to date, according to our database.
The latest funding rounds by cancer care startups include:
Viome Life Sciences, a provider of AI-powered precision cancer diagnostics and therapeutics platform, raised $67 million in Series C funding. Bold Capital Grou led the investment round with participation from existing investors Khosla Ventures, West River Group, Glico, Ocgrow Ventures, and Physician Partners participated.
Perception Vision Medical Technologies (PVmed), a provider of AI-guided solutions that help doctors plan and treat cancers precisely, raised $14 million in Series A funding from Cherami Investment Group, Philips, JHF Investment, COCOCAPITAL Corporation, and Strategy Capital.
Aiosyn, a provider of an AI-powered cancer diagnostics and treatment platform for care providers, raised €2 million in funding led by Health Innovations with participation from Oost NL and LUMO Labs.
Fountain Life, an AI-powered precision cancer, heart disease, and dementia diagnostics and treatment platform, raised $15 raised in funding from Eos Venture Partners and Newcross Healthcare.
Ibex Medical Analytics, a provider of AI-powered cancer diagnostic solutions for pathologists, raised $10 million in debt funding led by Kreos Capital, a growth debt capital provider.
OncoPrecision, an AI-powred precision cancer treatment platform for doctors, raised $3.3 million in seed funding from SOSV’s IndieBio, GRIDX, New York Ventures, Creative Ventures, and Fundación Para el Progreso de la Medicina.
