OmniGuide Surgical, a Cambridge-based medical device company, announced the closing of a $15 million financing with funding from a syndicate of existing investors including Stata Venture Partners, Argonaut, and Electro Scientific Industries.
The funding will be used to accelerate OmniGuide’s growth in the field of gynecology, the company said in a press release.
OmniGuide designs and manufactures its BeamPath Laser System, a tool used in minimally invasive surgeries that leverages the benefits of the CO2 laser. According to OmniGuide, CO2 laser energy causes less damage to tissue versus other advanced energy products, and surgeons are more comfortable using this energy source around critical structures such as nerves, blood vessels, reproductive organs, bladders, and bowels. It also results in better outcomes for patients, the company says.
Since its launch, the BeamPath Laser System has been used in nearly 100,000 surgical procedures, OmniGuide added.
“We are very pleased to lead this round of financing and help OmniGuide execute on their mission and become a major player in the advanced energy surgical products market,” Ray Stata of Stata Venture Partners said in a statement. “OmniGuide has made substantial progress with the commercialization of their products and we look forward to helping them accelerate their penetration into large market opportunities such as gynecology.” Chris Reidy can be reached at email@example.com.