Gamma Medica develops advanced digital molecular imaging technologies and commercializes the FDA‑approved LumaGEM Molecular Breast Imaging (MBI) system. LumaGEM is a fully digital, dual‑head, solid‑state CZT MBI system intended for women with complex breast anatomy, such as dense breast tissue, where mammography and ultrasound can miss early cancers. The system detects lesions as small as five millimeters and has demonstrated sensitivity and specificity equivalent to MRI at a fraction of the cost. LumaGEM is currently in use at premier hospitals and breast centers throughout the U.S. and has won awards including the 2014 Frost & Sullivan Product Leadership Award and the 2014 Medical Design Excellence Award. Gamma Medica announced $11.5 million in new growth financing—$6.5M from Hercules Technology Growth Capital and $5.0M from existing investor Psilos Group—to fund increased sales and marketing and accelerate global adoption of MBI. Management says the capital will power commercial expansion and further LumaGEM's clinical adoption worldwide. Gamma Medica designs, builds and services the LumaGEM® Molecular Breast Imaging (MBI) system and the companion LumaGUIDE® MBI-guided biopsy module, a fully digital, FDA-cleared planar dual-head imaging system using cadmium zinc telluride (CZT) technology. LumaGEM highlights tumors obscured by dense breast tissue and is intended as an effective secondary diagnostic tool for radiologists, with reported >90% sensitivity and specificity as an adjunct to mammography. The company positions MBI as a lower-cost alternative with comparable sensitivity and improved specificity relative to MRI for dense-breast and high-risk cases. Gamma Medica plans to expand commercialization of MBI and use proceeds to fund additional multi-site post-market clinical studies with several leading U.S. academic research institutions. The article notes regulatory and market tailwinds, including state laws requiring patient notification about dense breast tissue that can reduce mammography sensitivity. Financially, Gamma Medica announced a $16 million Series A financing from Psilos, which has now invested more than $20 million in the company to date. Gamma Medica develops clinical and pre-clinical imaging systems, most notably the LumaGEM® Molecular Breast Imaging (MBI) System for breast diagnostics and the Triumph™ II trimodality system for small-animal imaging. The LumaGEM MBI system is FDA-cleared, utilizes CZT solid‑state detectors, and has been installed in more than 20 clinical and research facilities in the U.S. and Europe. Radiologists use LumaGEM as an adjunct to mammography, particularly for detecting lesions in dense breast tissue; published Mayo Clinic studies cited in the article report sensitivity of 91% and specificity of 93%. The company emphasizes that LumaGEM reimbursement is about half the cost of an MRI and that images are easier and faster to read. Gamma Medica also markets industry‑leading preclinical imaging products featuring solid‑state SPECT and PET technologies. Financially, the company entered Chapter 11 and secured interim financing to pursue either a reorganization or an asset sale while refocusing operations and making management changes.

Total raised

$29M

Funding rounds

4

Latest round

Equity

Latest activity

Oct 2014