Elucent Medical Secures Series C Funding to Advance Oncologic Surgery Innovation

EDEN PRAIRIE, Minn., April 10, 2024 (GLOBE NEWSWIRE) -- Elucent Medical, a pioneering medical technology company transforming the field of surgical navigation through In-Site Spatial Intelligence (iSI) is pleased to announce the successful closure of its $42.5 million Series C funding round. The proceeds will further propel the development and commercialization of its groundbreaking EnVisio® and SmartClip® technologies for tissue sparing oncologic surgery.

The financing was led by Vensana Capital and RC Capital with participation from existing investors. This investment validates the growing interest in Elucent’s transformative approach to enhancing precision and efficacy in cancer surgery.

Elucent’s flagship technologies, EnVisio® and SmartClip®, offer precision In-Site Spatial Intelligence during oncologic procedures. EnVisio® leverages proprietary technology that converts existing surgical tools to smart navigated instruments that can be tracked in real-time and guided with millimeter precision. EnVisio is currently optimized to guide the surgical treatment of breast cancer, while adoption of the technology has expanded to address other soft tissue oncology surgeries. In addition, Elucent is currently developing products to assist surgeons in their pursuit of margin negative resections in lung and other soft tissue clinical applications, and these products also integrate with existing tools and minimally invasive solutions, including video and robotic-assisted medical technologies.

"We are proud to have secured this substantial funding, which will advance our mission to radically change the way surgeons mark and locate their intended target for removal by turning their existing surgical instruments into intelligent tracking devices that elevate the standard of care in soft tissue oncologic procedures," says Jason Pesterfield, President and CEO of Elucent Medical. "With the support of our investors, we are poised to accelerate the commercialization of our EnVisio® and SmartClip® technologies, empowering healthcare providers with innovative tools to improve patient outcomes."

New board members Greg Banker and Kirk Nielsen of Vensana Capital and Scott Steever of RC Capital added, “Elucent has developed a best-in-class technology platform that integrates with existing surgical tools and workflows while providing surgeons the real-time information they need to confidently locate and optimally resect tumors. We are excited to partner with the company to support their efforts to establish themselves as the market leader in breast navigation and to complete the development and launch of products in lung and other soft-tissue applications.”

About Vensana Capital

Vensana Capital is a venture capital and growth equity investment firm dedicated to partnering with entrepreneurs who seek to transform healthcare with breakthrough innovations in medical technology. Launched in 2019, Vensana manages $550M in capital and is actively investing in development and commercial stage companies across the MedTech sector, including medical devices, diagnostics and data science, life science tools, digital health, and tech-enabled services. Vensana's investment team has a history of successfully partnering with management teams behind industry-leading companies including Cameron Health, CardiAQ, Cartiva, CV Ingenuity, Epix Therapeutics, Inari Medical, Intact Vascular, Lutonix, Neuwave Medical, Personal Genome Diagnostics, Relievant Medsystems, Sequent Medical, Topera, Ulthera, Veran Medical Technologies, Vertiflex, and Vesper Medical.

About RC Capital

RC Capital is a growth equity firm building high-potential healthcare companies by leveraging the unique interplay of our segments of focus: medical device, healthcare services and healthcare IT. We are dedicated to investing on the right side of healthcare, growing companies that enable clinicians to improve the delivery of care and the experiences and outcomes for patients. We seek to be a business partner first and a capital provider second, investing significant human capital to leverage our domain expertise, a network of healthcare thought leaders and deep relationships with health systems assembled over our 30-year history. Visit www.rccapital.com for more information.

About Elucent Medical:

Elucent Medical is a leading innovator in the field of oncologic surgical treatment solutions, dedicated to improving patient outcomes through precision and efficacy. The company's flagship technologies, EnVisio® and SmartClip, offer groundbreaking solutions for Intelligent Spatial Guidance (iSG). With a commitment to innovation and collaboration, Elucent Medical is driving advancements in surgical oncologic care worldwide.

For more information about Elucent Medical and its innovative solutions, please visit www.elucent.com.

About Elucent Medical:

Media Contact:

Ginger Sands

Chief Customer Officer