MARS Bioimaging is advancing the final phase of its Series A investment round to support the clinical commercialization of its color CT imaging system, with a target of raising $10 million New Zealand dollars ($6 million U.S.).
MARS Extremities scanner, a compact spectral CT system for upper extremity imaging.Courtesy MARS Bioimaging
The Christchurch, NZ-based firm is now engaging with new investors under the same terms as its initial close, which raised $7.6 million ($4.5 million U.S.) last year.
The Series A funding round is being led by Pacific Channel, a New Zealand-based venture capital firm.
MARS scan of a wrist with a scaphoid fracture.Courtesy MARS Bioimaging
The funding will accelerate the company’s growth, including market and technology development, talent acquisition, and scaling of production and supply chain capabilities, MARS said.
In addition, MARS has appointed a new group CEO, Ojas Mahapatra, PhD, former CEO of Fabrum. Mark Figgit has been named group chief operating officer.
MARS Bioimaging specializes in spectral molecular imaging CT scanners that deliver 3D color images for point-of-care musculoskeletal diagnosis.
MARS Extremities spectral 3D color wrist scan.Courtesy MARS Bioimaging
The MARS extremities 5X120 scanner, a compact spectral CT system for upper extremity imaging, was designed for use in clinical and research environments, and supports applications ranging from cancer detection and orthopedics to the development of contrast agents.
