ST. LOUIS, Nov. 13, 2018 /PRNewswire-PRWeb/ -- As part of a new focus on advancing the treatment of lung cancer, BTG has invested $20m in Veran Medical Technologies, Inc. and has an option to acquire the company, exercisable from January 2020.
BTG is a global healthcare company focused on Interventional Medicine. Their innovative medical technology helps physicians treat their patients through minimally invasive procedures. BTG has a growing portfolio of products that advance the treatment of cancer and vascular conditions.
"We are excited to announce BTG's investment in Veran and look forward to collaborating with them," said Veran Medical CEO Jason Pesterfield. "BTG and Veran have the shared goal of helping physicians diagnose and treat lung cancer earlier in order to save lives."
"We are pleased to enter into this partnership with Veran and support the company's growth," said Peter Pattison, BTG's Head of Interventional Oncology. "Veran's technology supports the shift towards minimally invasive treatment of lung cancer, an area of strategic interest to BTG."
Veran's next generation SPiN Thoracic Navigation System™ offers an industry leading precision, thoracic guidance platform that allows lung specialists to seamlessly transition between a navigated, endobronchial approach and a navigated, transthoracic approach utilizing SPiN Perc™, to help physicians diagnose lung cancer earlier. A published clinical study utilizing a multi-modality approach, including Veran's SPiN System™ and SPiN Perc™, have demonstrated a 92% diagnostic yield.
Veran's SPiN Thoracic Navigation System™ is the most versatile system on the market and is also utilized by Thoracic Surgeons for localization and marking of lung nodules in the operating room immediately prior to resection. In addition, a SPiN IR™ software application enables Interventional Radiologists to utilize the navigation platform for lung, liver, kidney, and other thoracic anatomy.
Lung Cancer remains the number one cancer killer worldwide. 94 million current or former smokers remain at elevated risk in the U.S. alone. More than 8 million people in the U.S. currently meet the criteria for lung cancer screening. When suspicious lesions are discovered, patients need answers. Mounting clinical data suggests that a large percentage of the hundreds of thousands of bronchoscopies performed every year on suspected lung cancer patients are non-diagnostic—delaying potential lifesaving therapy.
About Veran Medical Technologies
Veran is a privately held medical device company headquartered in St. Louis, MO. The company's mission is to empower physicians to diagnose cancer earlier and to enable precision therapy to save lives. In the United States, lung cancer kills more people each year than breast, prostate, pancreatic and colon cancers combined.
Veran has developed and commercialized an FDA cleared, next generation electromagnetic thoracic navigation platform called the SPiN Thoracic Navigation System™. Veran's breakthrough technology has been adopted by leading cancer centers throughout the United States. Veran provides physicians with a full line of bronchoscopic brushes, needles, forceps and steerable catheters with tiny electromagnetic sensors embedded in the tips for precise navigation. The combination of these proprietary Always-On Tip Tracked® instruments and Veran's exclusive patient respiratory gating technology enables physicians to accurately access lung nodules by accounting for nodule movement during patient breathing, a common challenge for lung specialists.
Another challenge lung specialists face is that approximately 40% of lung nodules lie outside of an airway, making them very difficult to reach endobronchially, and traditionally requiring an additional procedure. Veran's SPiN Thoracic Navigation System™ is the first and only FDA cleared technology that enables Pulmonologists or Thoracic Surgeons to safely and accurately access lung nodules outside of an airway using SPiN Perc™, a navigated transthoracic needle. With SPiN Perc™, Veran combines endobronchial navigation with percutaneous navigation, allowing physicians to access all lung nodules in a single procedure, regardless of nodule size or location. This eliminates the cost and risk of unnecessary procedures and empowers physicians to provide a same day diagnosis for their patients. The early diagnosis and treatment of lung cancer has been proven to save lives.
BTG is a global healthcare company focused on Interventional Medicine. Our innovative medical technology helps physicians treat their patients through minimally invasive procedures. We have a growing portfolio of products that advance the treatment of cancer and vascular conditions. BTG's Pharmaceuticals business provides products that help patients overexposed to certain medications or toxins. To learn more about BTG, please visit: btgplc.com.
SOURCE Veran Medical