TORONTO – Imagistx has closed a $6 million round of financing led by iGan Partners, with participation from IAF, Veddis Ventures and additional investors from the iGan Partners network. According to the companies, Imagistx has developed the world’s only ultra-high resolution ultrasound product that will dramatically improve prostate cancer detection and treatment over the current standard of care.
Imagistx has begun a large-scale clinical trial at five of the leading urology centres in North America, including Johns Hopkins, the world’s leading urology centre. The initial observations from the clinical trials have been positive and the trials are expected to conclude in Q4 2014.
The increased resolution and frequency of the Imagistx ultrasound product allows for early detection and diagnosis of prostate cancer. It will also provide valuable monitoring tools, supporting a growing trend towards active surveillance, leading to more effective treatment.
“We are thankful for the confidence our shareholders have shown in the Imagistx team with their recent investment. This capital will allow us to clinically validate the superiority of our product, and carry out our corporate strategy,” said Randy AuCoin (pictured), President of Imagistx.
“Since we invested, Imagistx has shown significant progress on all fronts. There is a real need for this product in the market and we have confidence in Randy and his team to execute on the market opportunity,“ said Sam Ifergan, President of iGan Partners.
About Imagistx Inc.
Imagistx has developed an ultra high resolution system that provides significant improvements in detecting prostate cancer. Its ultrasound system allows urologists to see exquisite details of the prostate, allowing for better diagnosis, surveillance and treatment. For more information, please visit www.imagistxprostate.com.