TechniScan Medical Systems (TMS), a developer of ultrasound technology for breast imaging, has closed its Series E Preferred Funding round at a total of $13 million.
The Salt Lake City-based TechniScan said the lead investor in this round was the Esaote Group, a Genova, Italy-based producer of ultrasound and MRI medical imaging technologies. Esaote was joined in this round by return backers from TechniScan’s board of directors and many Angel investors.
“With the partnership with Esaote, we now have all the pieces we need to complete our technology testing and begin the next set of clinical trials that will take us all the way to the finish line,” said David C. Robinson, TMS CEO. Pending FDA approval, Robinson said he expects commercial sales of the UltraSound CT Imaging System to start at the end of 2008.