Minimally invasive breast biopsy device developer Rubicor Medical reported that it has entered into a $10 million loan agreement with lenders Comerica Bank and Oxford Finance. The venture debt credit facilities will be used by Rubicor to support its ongoing working capital requirements, capital expenditures and other corporate growth initiatives, according to the privately-held, Redwood City, Calif.-based company.
The firm, founded in 1998 by interventional cardiologist James Vetter, MD, currently markets three disposable devices for breast biopsy and surgery -- Flash, Phantom and Halo.
The Flash technology allows for single insertion, multi-sampling, core biopsy for breast lesion diagnosis without having to re-insert the device into the breast. Phantom provides surgeons with a soft-tissue excision device for breast surgical procedures, and is the first percutaneous device to excise and remove breast lesions, according to Rubicor. The third device, Halo, allows physicians to capture complete breast tissue abnormalities through a minimally-invasive procedure in their office exam rooms.