Endomag, a Cambridge-based startup developing technology to help simplify breast cancer treatments, has raised £15 million in new cash led by Draper Esprit. The Series D round, which brings the company’s total funding to over £32 million, will be used to scale its product offering, market reach and team.
Endomag’s technologies use non-invasive magnetic sensing to locate and stage breast cancer and have helped over 130,000 women across the world receive more precise and less invasive cancer treatment. The goal is to help women avoid unnecessary surgical procedures that ultimately expose them to post-surgery complications.
At the heart of the company’s product offering is the Sentimag localisation system. The system features a probe, which surgeons use like a metal detector to accurately locate a breast tumour during surgery with Endomag’s magnetic seed (Magseed), or to help determine if that cancer has spread using its liquid tracer (Magtrace).
In 2021, the medtech company plans to launch the next generation of its Sentimag platform, as well as new Magseed products. Along the way, it hopes to expand its service beyond the current base of 43 countries.