Aurora gains capital to push breast MRI system via stock sale

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In a move to boost its selling and marketing activities through additional capital, Aurora Imaging Technology Inc. has sold $10 million of Series C Preferred Stock to two equity funds managed by the Pharos Capital Group (Pharos Capital Partners II and Pharos Capital Partners II-A). The funds will be used to push — both nationally and internationally — the company’s Aurora 1.5T Dedicated Breast MRI system with Bilateral UltraRODEO.
     
Some of the proprietary and distinguishing features of the Aurora System include: a shimming of the magnet that changes the area of image uniformity to an ellipsoid providing the possibility of full image coverage of the breasts, the chest wall and the lymph nodes or axilla; a gradient coil with very high linearity or accuracy to meet the specific requirements of breast imaging; a patient-handling table that provides comfort for the patient and procedural utility; a fully integrated interventional system for MRI guidance of biopsies and interventional therapy; and the AuroraCAD computer-aided image display system designed to improve the accuracy and efficiency of radiologic interpretations, the company said.

The Aurora System is designed to be located within a breast care center where it is readily available to specialized physicians and their patients. As a diagnostic tool, it is designed for a number of indications in breast disease management including:

  • Detecting or excluding the existence of cancer in  higher risk women;  
  • Characterizing indeterminate clinical or  mammographically detected abnormalities;  
  • Determining the extent of cancer for treatment  planning;  
  • Detecting occult cancer;  
  • Evaluating patients for residual disease following  surgery;  
  • Monitoring cancer response and the extent of residual  disease after neoadjuvant chemotherapy; and  
  • Evaluating implant integrity and detecting cancer in  women with breast augmentation