ODS Medical, Inc. closes a new financing round to further support product development diversification of applications

MONTREAL, Sept. 1, 2020 /CNW/ – ODS Medical, Inc., a Montreal based medical technology company, is pleased to announce a new financing round to support product engineering and regulatory work. ODS Medical is bringing together the power of machine learning and molecular imaging to develop optical biopsy tools based on Raman spectroscopy. These tools are bringing real time tissue characterization to operating rooms and diagnostic suites, detecting the presence of invasive cancer directly in the patient during procedures. The amount of funding has not been disclosed. 

The round was led by a strategic investor and supported by MEDTEQ⁺ other new and current investors. ODS will use the new funds to further develop its neurosurgical application for regulatory approval, add to its engineering and regulatory teams and launch new clinical sites in Canada and the US. 

“The ODS Medical team is very excited to welcome new investors to our efforts to provide more data-driven surgical oncology care to cancer patients,” said Christopher Kent, President & CEO of ODS Medical. “With this added support, we are focused on our next chapter of scaling operations to support multiple clinical studies in various indications and get our Sentry^TM system into the hands of neurosurgeons in Canada, the EU and the US.” 

ODS is already expanding their applications into multiple tumor types through meaningful co-development partnerships, proving that ODS Medical is building a tumor detection platform able to scale across numerous indications. 

About ODS Medical 
ODS Medical Inc. is a Montreal-based medical technology company dedicated to bringing the next generation of diagnostic tools to the hands of physicians. The Sentry^TM Raman spectroscopy system for real-time tissue characterization is pushing the limits of cancer detection in many procedures. By integrating cutting edge optical probes with sophisticated AI software, ODS Medical empowers doctors to make critical decisions, in real-time, to improve patient safety and outcomes. You can find out more at www.odsmed.com 

About MEDTEQ⁺ 
MEDTEQ⁺ (www.medteq.ca) is the pan-Canadian Consortium for Industrial Research and Innovation in Medical Technology. Its mission is to accelerate the development of innovative technological solutions to improve patients’ health and quality of life. MEDTEQ⁺ relies on the financial support of the Government of Quebec, the Government of Canada (delivered through the Centres of Excellence for Commercialization and Research (CECR)), the private sector and complementary partners to foster research-industry relations. 

Read the Press Release here

SOURCE MEDTEQ+

For further information: Julien Caudroit, Communications & Events Director, 514 297 5231, julien.caudroit@medteq.ca