Precision Biopsy manufactures the ClariCore Optical Biopsy System, which uses spectral analysis via an optical fiber and companion console to classify prostate tissue in vivo during biopsies. The system is designed to rapidly distinguish normal from suspicious tissue and seeks to reduce the number of core samples taken by up to 90%. The company is also developing a Focal Therapy program that applies the same optical tissue‑targeting technology to provide targeted, localized treatment and 3‑D mapping of prostate tissue. Precision Biopsy licensed its diagnostic technology from the University of Colorado and developed a first‑generation system in 2011, with human subject evaluation in 2012. The business is a subsidiary of Allied Minds and is preparing for global commercialization. To fund these initiatives, the company completed a new equity raise announced in the article. Precision Biopsy commercializes a novel optical biopsy technology developed at the University of Colorado Anschutz Medical Campus to improve accuracy and reliability of prostate biopsies and increase cancer detection rates. The technology aims to focus therapy only where cancer lesions exist instead of treating the entire prostate gland. The company was formed by Allied Minds in cooperation with the University of Colorado and is privately held. Precision Biopsy has formally closed a $2.5MM round of funding to kickoff the commercialization phase and complete product development ahead of market introduction. Amir Tehrani, former CEO of Amaranth Medical, has joined as Executive in Residence and General Manager to guide the transition toward commercialization. Allied Minds has stated its commitment to supporting development and commercialization of the technology.

Total raised

$36M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2015