superDimension Ltd. has raised $11 million from Covidien Ventures and current investors, Medica Venture Partner, Pitango Venture Capital, and Oxford Bioscience Partners. The company is developing minimally invasive interventional pulmonology devices. It has raised $120 million to date, including a $15 million loan from Oxford Finance Corporation.
Pinchas Gilboa founded superDimension in 1995. It subsequently made a strategic change from developing navigation instruments for toy planes to developing a device for precision navigation of catheters deep into the lungs to help diagnose lung cancer.
superDimension president and CEO Daniel Sullivan said, "This additional financing will allow us to further strengthen our commercial infrastructure and sales and marketing team, expanding the benefits of the i•Logic System and electromagnetic navigation bronchoscopy (ENB) to a wider patient population."
According to Israel Venture Capital, superDimension had $20 million in sales in 2010. Sullivan said that the company ENB has been in used in over 22,000 procedures at 350 hospitals worldwide.
superDimension is now based in Minneapolis and has a center in Herzliya Pituah.
Published by Globes [online], Israel business news - www.globes-online.com - on September 13, 2011
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