SamanTree Medical Raises $14M in Series B Financing Round to Support Global Expansion and Innovation in Surgical Treatment
16 July 2024 - 6:00AM
Business Wire
Henry Charlton and Claire Poulard to join
the Board of Directors
Funding will Accelerate US Market Entry, Enhance Digital
Solutions, and Support Clinical Developments
SamanTree Medical, a leading medical technology company
specializing in innovative solutions to improve the outcomes of
surgery, today announced the closing of $14M as part of a Series B
financing round. The new capital will be used to further develop
and commercialize the Histolog® Scanner, expand its reach in Europe
and the United States, and enhance its digital suite.
Revolutionizing Surgery with the Histolog® Scanner
The Histolog Scanner, a CE-marked device, allows for
high-resolution imaging of fresh tissue surfaces during surgery,
enabling pathologists and surgeons to perform real-time
intra-operative assessment of resected tissue much faster than the
conventional techniques. This innovative technology is based on
ultra-fast confocal microscopy.
Investment
The round was led by Relyens Innovation Santé, advised by
Turenne Capital, and saw participation from new investors Mutuelles
Impact, Wille Finance, Noshaq and WE Life Sciences (Wallonie
Entreprendre), along with returning investors Panakès Partners, BOM
and b2venture. In conjunction with this financing round, SamanTree
Medical will establish its headquarters and an operational base in
Wallonia (Belgium), while the R&D operations will remain in
Lausanne, Switzerland. Fraser Partners acted as sole financial
advisor to SamanTree Medical SA.
Board of Directors Update
Joining the Board of Directors are Claire Poulard, Investment
Director at Turenne Capital, and Henry Charlton, SVP and Chief
Commercial & Marketing Officer at Intuitive. The new Board
composition is as follows:
- Fabrizio Landi
- Claire Poulard
- Henry Charlton
- Dr. Charles Carignan (Chairman)
- Olivier Delporte (CEO)
CEO Olivier Delporte explained: “We are elated by the
robust support from our investors, which highlights SamanTree
Medical's impressive progress. This funding, coupled with our
strengthened Board, will enable us to accelerate our innovation,
expand globally, and enhance our digital solutions, thereby
delivering greater value to patients. I also want to thank the
Walloon investors WE Life Sciences and Noshaq for their continuing
support and effort to strengthen the local life sciences
ecosystem.”
“SamanTree Medical has demonstrated that the Histolog® Scanner
can provide real-time, high-resolution imaging during surgery, and
it has the potential to improve surgical outcomes. We are impressed
with the company's performance and the clinical data supporting the
use of the Histolog® Scanner in multiple soft-tissue surgical
procedures. We look forward to partnering with SamanTree Medical to
bring this transformative technology to more patients worldwide,”
said Claire Poulard, Investment Director at Turenne Capital.
“I am excited to join the Board of SamanTree Medical at such a
pivotal time for the company. The Histolog Scanner is a potentially
significant advancement that provides surgeons with real-time
actionable information to their decision-making,” said Henry
Charlton, SVP and Chief Commercial Officer at Intuitive.
Strategic Vision and Global Expansion
As part of the financing conditions, SamanTree Medical is set to
expand its commercial operations in Europe and is planning for US
market entry later in 2024. This strategic move will involve
scaling the deployment of the Histolog Scanner, bolstering clinical
trials, and working to obtain necessary marketing authorizations
from the U.S. FDA.
About SamanTree Medical and the Histolog Scanner
SamanTree Medical is dedicated to improving outcomes for
patients undergoing surgery through innovative medical imaging
solutions. The company has developed the Histolog Scanner, a novel
device that offers real-time, high-resolution fresh tissue surface
imaging during surgical procedures, that may significantly enhance
the accuracy of tissue removal or biopsy. The Histolog Scanner
covers a broad range of surgical applications in surgery and is
currently commercialized in Europe. It is an investigational device
in the US.
For more information, visit www.samantree.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240715376136/en/
Olivier Delporte CEO, SamanTree Medical info@samantree.com