NinePoint Medical, Inc., an emerging leader in the development of medical devices for advanced optical imaging, today announced it has completed a $34 million Series B financing led by Corning Incorporated (NYSE: GLW), along with founding investors Third Rock Ventures and Prospect Venture Partners. The company also announced the addition of three new members to its board of directors: Curt Weinstein from Corning, and independent directors Tom Miller and Mark Stautberg.
Proceeds from the financing will support the ongoing commercial launch of the NvisionVLE Imaging System in the U.S., as well as development of the company’s expanded product offering.
“The NvisionVLE Imaging System is an exciting new imaging technology that is enabling physicians to visualize esophageal abnormalities at and below the mucosal surface, helping inform clinical decision-making,” said Charles S. Carignan, M.D., president and CEO of NinePoint Medical. “With new hospitals adopting the technology every month, and with the support of our investors and strategic guidance of our board, we can continue to expand our sales force to facilitate the adoption of NvisionVLE at more centers. Hospitals from New England, to Florida, to California are already offering this advanced imaging technology. We will continue to build out our operational capacity to meet the increasing demand for our products, while also working on new features and product offerings for the future.”
Originally developed at the Wellman Center for Photomedicine at The Massachusetts General Hospital (MGH), NinePoint licensed the imaging technology from MGH in 2010 as part of the largest intellectual property agreement for medical device technology in the hospital’s history. The NvisionVLE Imaging System enables physicians and pathologists to endoscopically view, for the first time, real-time, high-resolution, cross sectional images of organs and tissues up to 3mm deep at better than 10 micron resolution.“We are looking forward to being a part of NinePoint Medical’s success in bringing this new imaging technology to market,” said Curt Weinstein, vice president and general manager, Corning Advanced Optics and Specialty Materials. “We are excited to bring Corning’s long history of excellence in the development of optics to NinePoint to help develop industry leading devices for OCT imaging that add to the clinical care of patients.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts