• OmniGuide

  Participated · Equity · Sep 2013

  OmniGuide Surgical develops and manufactures the BeamPath® Laser System, a flexible fiber-enabled CO2 laser platform for minimally invasive surgery. The company designs and manufactures its system in Cambridge, Massachusetts using proprietary technology invented at MIT. The BeamPath system has been used in nearly 100,000 surgical procedures, primarily in Gynecology and ENT. OmniGuide positions CO2 laser energy as causing less tissue damage versus other advanced energy products, which it says can improve surgeon experience and patient outcomes. The company distributes the BeamPath Laser System in the U.S. through a direct sales force. OmniGuide recently closed a $15 million equity financing to support commercialization and product launches into the ENT market and further growth in Gynecology. OmniGuide is a Cambridge, Massachusetts-based medical device company specializing in advanced energy surgical products for the operating room. Its core product is the BeamPath® flexible laser system, which has been used in over 40,000 adult and pediatric surgical procedures across gynecology, ENT and neurosurgery. The company’s fiber products are based on proprietary technology invented at MIT and originally published in Science and Nature. OmniGuide distributes in the U.S. through a direct sales force and in Europe through distribution partners. Led by President and CEO Scott Flora, the company intends to use the proceeds of the recent financing to accelerate commercialization of its advanced energy surgical products. The company closed a $35M financing with an affiliate of OrbiMed Advisors. OmniGuide produces BeamPath, a flexible optical fiber used to guide CO2 laser beams in surgery. The company said it will use the new funding to expand its laser surgery business. BeamPath has been used in more than 3,000 surgeries, including procedures for head and neck cancers, airway clearing, and hearing restoration. More than 200 hospitals in the U.S. and Europe use the system. OmniGuide reported $2 million in revenue last year and CEO Yoel Fink told VentureWire he expects the company to be profitable in 2009. The company has about 80 employees and originally licensed the technology from MIT. OmniGuide is based in Cambridge, Mass.

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