Endomag secures £15 million in series D funding
Endomag, a breast cancer market leader and fast-growing private technology businesses, has secured £15m (~$20m) in Series D funding.
These funds are earmarked for expanding access to new advanced techniques enabled by its products, such as targeted axillary dissection (TAD) and delayed sentinel lymph node biopsy (dSLNB).
The funds will also be used to scale its product offering, market reach and employees.
Draper Esprit led this funding round, the largest in the Company’s history, which was supported by existing investors Sussex Place Ventures among others.
This investment follows on from Draper Esprit’s initial lead in Endomag’s 2018 Series C round, bringing the Company’s total funding to over £32 million ($43 million).
Endomag’s Chief Executive Officer, Eric Mayes, comments: “We feel privileged to have maintained our growth while continuing to support hospitals, doctors and their patients during these uncertain times. We’re also fortunate to have investors that recognise our opportunity to lead the market while continuing to make a difference for people living with breast cancer.”
David Cummings, Venture Partner at Draper Esprit, comments: “Endomag continues to invest significantly in research and development and, in 2021, is due to launch its next generation Sentimag® platform, as well as new Magseed® products. The Company is aiming to expand beyond its current base of 43 countries, while advancing breast care to another level.”