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Omniguide Raises $25 Million in VC Finanace

BioPhotonics
Jul 2008
OmniGuide Inc. of Cambridge, Mass., a developer of laser scalpels for minimally invasive surgery, has raised $25 million in a fifth round of venture financing. Psilos Group of New York, a health care venture capital and private equity firm, led the funding round, which included previous OmniGuide investors.

The Cambridge-based company’s BeamPath CO2 laser fiber optic scalpels are used for surgical treatment of head and neck cancers, for removal of life-threatening airway papillomas in adults and children, and for hearing-restoration surgeries. The company says that the investments will help fuel its expansion into additional clinical markets, such as otology, spinal surgery, neurosurgery, gastroenterology and gynecology.

According to The Boston Globe, the laser scalpel company is at least the fifth Massachusetts life sciences company to raise $25 million or more in venture funding in the past few months. Concert Pharmaceuticals Inc. in Lexington raised $37 million, Constellation Pharmaceuticals Inc. of Cambridge brought in $32 million, Bedford-based Resolvyx Pharmaceuticals Inc. garnered $25 million, and Stromedix Inc., another Cambridge biotechnology company, received $25 million.


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