Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Calypso gets $50 million to boost sales of tumor location system: Expanded commercialization of Calypso Medical Technologies' GPS for the Body technology, which creates real-time tumor location data, will be funded by a recently completed $50 million venture capital financing, the company announces Sept. 17. The technology, which was first 510(k)-cleared in 2006 for use in prostate cancer, uses miniaturized implanted devices to track the location of tumors for improved accuracy and management of radiation therapy delivery. The privately held Seattle firm's financing proceeds are tabbed for commercial expansion, "development of products to support new clinical indications," and "continued integration of the Calypso system with existing linear accelerators and other radiation therapy technologies," the company says. The funding was led by Skyline Ventures and Frazier Healthcare Ventures