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Gamma Medica Secures $6.5MM From Hercules Technology Growth Capital

October 23, 2014, 07:32 AM
Filed Under: Medical

Gamma Medica, a developer of advanced digital molecular imaging technologies, announced a $6.5 million growth capital financing facility from leading specialty finance company Hercules Technology Growth Capital and $5.0 million from existing investor Psilos Group.

The new investment will power Gamma Medica’s increased sales and marketing efforts and help grow adoption of Molecular Breast Imaging (MBI) on a global scale.

“Gamma Medica is dedicated to supporting the advancement in early breast cancer detection and treatment through the commercialization of our award-winning LumaGEM MBI system worldwide,” said Jim Calandra, President and CEO, Gamma Medica. “We value our relationship with Psilos Group and Hercules Technology Growth Capital in helping us drive this continued growth and market acceptance,” Calandra added.

Gamma Medica’s flagship product, the FDA-approved, fully digital LumaGEM MBI system, is intended for women with complex breast anatomy, such as dense breast tissue, where screening mammogram and ultrasound miss many early cancers. Molecular Breast Imaging detects lesions as small as five millimeters and has demonstrated sensitivity and specificity equivalent to that of MRI at a fraction of the cost.

LumaGEM MBI is currently in use at premier hospitals and breast centers throughout the U.S. The market-leading technology recently won the 2014 Frost and Sullivan Award for Product Leadership and the 2014 Medical Design Excellence Award.
Gamma Medica, Inc. is dedicated to the development of advanced digital imaging technologies that address the growing importance of overcoming the critical shortcomings of mammography and other screening modalities in the early detection of breast cancer.

Psilos Group is a healthcare investment firm focused on providing venture and growth capital to companies operating in the healthcare economy. Founded in 1998, Psilos has $600 million under management and invests across three healthcare sectors: healthcare services, healthcare information technology, and medical technology. 

Hercules Technology Growth Capital, Inc. is the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science, and energy & renewable technology industries, at all stages of development. Since its founding in 2003, Hercules has committed more than $4.4 billion to more than 290 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing.

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