Lightpoint Medical is an innovative medical device company dedicated to improving health outcomes for cancer patients through molecular image-guided surgery. The company’s intraoperative molecular imaging and sensing technologies have the potential to detect cancer in real time during surgery and thereby reduce the need for repeat operations. The company completed it’s latest funding round via SyndicateRoom in April 2018, details are pending final checks.
In December 2014, Lightpoint Medical successfully raised £989,998 via SyndicateRoom to bring its two lead products, LightPath™ and EnLight™, to the EU and US markets.
Since the founding of the company five years ago, Lightpoint had seen successful clinical trial data in multiple cancer types, achieved multiple regulatory clearance milestones, received substantial grant income (US National Cancer Institute; Innovate UK; Horizon2020 and others), taken in early sales, and is now well on its way to transforming the practice of cancer treatment.
The company’s first product, the LightPath® Imaging System, is the world’s first clinically-approved device for intraoperative molecular imaging. LightPath® has the potential to detect cancer in real-time during surgery, thereby reducing the need for repeat operations required to remove cancerous cells missed during earlier operations. HARLI™, the company’s second product, is a handheld molecular imaging device for the research market.
Since their previous SyndicateRoom raise in 2014, Lightpoint have since gained regulatory approval within the EU as well as completing clinical trials at Guys’ Hospital (London). The company has successfully sold its first units to hospitals in the Netherlands and Germany, alongside units to hospitals in the US.
CEO and Founder David Tuch studied Physics at the University of Chicago before completing a PhD in Health Sciences and Technology, jointly awarded by Harvard Medical School and MIT. He previously spent five years working for Novartis, his last role being Director, Head of Clinical Imaging, and is currently an NED at SEHTA and Active Needle Technology.
The lead investor
Since 1983, Oxford Technology Management has specialised in making and managing investments into startup and early-stage technology-based businesses with high growth prospects. In total, 150 investments in technology startups have been made, almost all of them within an hour’s drive of Oxford so that the firm can be actively involved to help. It now has 29 companies in its latest OT(S)EIS portfolio, set up in 2012.
What investors say
Having appraised many healthcare startups, I know those that address the unmet medical need of a large patient population by the application of a highly qualified founder’s considerable acumen in both technology and business are rare indeed. As an initial investor, it has been very pleasing to recognise Lightpoint Medical’s possession of all these attributes and to have watched Lightpoint’s subsequent success to date.
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