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[Funding alert] Eindhoven-based Scinvivo Raises €4.7 Million in Funding

Eindhoven-based Scinvivo raises €4.7 million in funding from Santec OIS Corporation, The NLC Health Impact fund, current shareholders, and an “Innovatiekrediet” (Innovation credit) loan of the Netherlands Enterprise Agency (RvO).

Eindhoven-based Scinvivo raises €4.7 million in funding from Santec OIS Corporation, The NLC Health Impact fund, current shareholders, and an “Innovatiekrediet” (Innovation credit) loan of the Netherlands Enterprise Agency (RvO).

Scinvivo is on a mission to make cancer diagnostics faster and more accurate, enabling the reduction of unnecessary surgeries and improving the quality of patients’ lives. They are developing an imaging platform based on a forward-looking OCT catheter to visualize the human morphological tissue structure a few mm’s deep with a high resolution.

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This approach fills the gap of the current image modalities, enables more precise minimal invasive surgeries, and will significantly improve the diagnosis of cancer resulting in a precise personalized treatment.

Bladder cancer is chosen as the first field for the imaging platform. The urologists who reviewed the technology see this as a likely game changer in their diagnostic routine with the potential to become the gold standard.

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With this investment, Scinvivo will improve the catheter, OCT system, and software such that it can be used in the clinic and is appealing to urologists. They will perform clinical trials to prove the clinical benefits of the product, and will prepare the necessary documentation to obtain CE certification.

They will also work on the go-to-market strategy, to successfully launch the OCT imaging platform on the market and make it a commercial success.

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Marijn van Os, CEO of Scinvivo: “I am very pleased with this investment round. With Santec we strengthen our supply chain and get a foot hole in the Japanese market. With NLCs HIF, the biggest investor in Europe for Medical start-ups, we have an investor on board who understands the specific dynamics in the medical venturing world.”

Maaike de Jong, CMO of Scinvivo: “This investment brings us a step closer to the market introduction of our OCT imaging platform. We are looking forward to a close collaboration with Santec, and to obtaining the first in vivo clinical results.”

Changho Chong CTO of Santec: “I strongly believe cancer screening with Scinvivo’s OCT technology supported by Santec’s laser will set a new milestone not just in procedure for bladder cancer but also in many other endoscopy applications.”

Lars Olthof, Investment Manager at NLC Health Ventures: “This investment will enable Scinvivo to further develop their technology and get their first clinical results. It is a vote of confidence of all parties involved, that we truly believe that this innovation has the potential to improve patient lives at scale. ”

RVO represented by Bibi van Gijzel and Iris Eefsting: “As the Netherlands Enterprise Agency (Rijksdienst voor Ondernemend Nederland ((RVO)), we are proud to announce our support for Scinvivo through the Innovation Credit program (Innovatiekrediet). This partnership exemplifies our commitment to fostering innovation with tangible benefits for the Netherlands. Scinvivo’s pioneering photonic technology holds great promise in revolutionizing early diagnosis for bladder cancer patients, potentially reducing the need for invasive surgeries and significantly impacting the healthcare system. We are excited to collaborate with Scinvivo in driving forward this transformative project, ultimately aiming to improve patient outcomes and advancing healthcare innovation in our country.”

About Scinvivo

Scinvivo makes optical biopsy diagnostics possible for bladder cancer. Present imaging methods for bladder cancer have certain drawbacks because they only allow the urologist to see the surface of the bladder.

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Thirty percent of instances involve the mistaken classification of benign tissue as malignant. Another drawback is that because the tumor’s margins are obscure, it can be challenging to completely remove a tumour after surgery.

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