BioImagene raises $26 M in expansion capital
Cupertino, CA, Aug 19, 2008
BioImagene, the
leading provider of affordable digital pathology solutions
for cancer diagnosis and preclinical research, today announced
the closing of a $26 million series D financing round led
by Burrill & Company. Ascension
Health Ventures, National
Healthcare Services and existing investors Artiman
Ventures and ICCP
Ventures also joined the round with strong support.
Mr. Yatin Mundkur, Artiman Ventures Partner and BioImagene board member noted “This
follow-on investment reaffirms our commitment to the BioImagene team and their
innovative products, and reinforces our belief in the enormous growth potential
of digital pathology. We are very happy to guide the company through their next
phase of future growth.”
BioImagene CEO Mohan Uttarwar commented, “This latest infusion of capital
from leading investors is a strong vote of confidence in our team, products and
strategy. Our goal is to become the dominant player in this space by 2010. We
are within range of our target and this funding will help us scale operations
to support the rapidly increasing demand for affordable, integrated digital pathology
systems. ”
Digital pathology is the process of converting entire glass microscope slides
into high-resolution, whole-slide digital images that can be viewed, managed
and analyzed with a computer instead of a microscope—along with digital
pathology management systems that help interpret the information generated from
the digitized glass slide.
Digital pathology applications utilizing digital slides are gaining momentum
as pathologists can access slide specimens and related data from any location
in the world, fostering more efficient laboratory workflow, physician communication,
education and research at a reasonable cost.
Investor Information
For more information on Artiman Ventures, please visit www.artimanventures.com
For more information on Ascension Health Ventures, please visit www.ascensionhealthventures.org
For more information on Burrill & Company, please visit www.burrillandco.com
For more information on National Healthcare Services (NHS), please visit www.nationalhealthcareservices.com
For more information on ICCP Ventures, please visit www.iccpventurepartners.com
About BioImagene
BioImagene is a leading provider of total digital pathology
solutions for applications including clinical diagnostics
and drug discovery. BioImagene products are FDA -cleared
for specific clinical applications, and are intended for
research use for other applications. www.bioimagene.com.
Media contact: Suchi Parth 408 207 4285
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