25 Jul 2018

Taylor Vinters supports Endomag in $10 million (£8million) Series C fundraising, led by Draper Esprit, to enable them to continue to significantly improve cancer treatment worldwide.

The team advising on the investment was led by Sian Scanlon (Partner) who was assisted by Lizzie Wilson (Associate).

Endomag is pioneering the use of magnetic sensing for minimally-invasive surgical guidance to ensure cancer can be targeted and removed more accurately. Their products address unmet clinical needs in availability, workflow efficiency and surgical accuracy to provide a better experience for patients with breast cancer.

Lead investor Draper Esprit is the European division of the Draper Venture Network, founded by illustrious Silicon Valley venture capitalist Tim Draper, an early backer in companies such as Skype, Tesla and SpaceX. Draper Esprit’s investment in Endomag is a strong vote of confidence in the management team and the medical device company’s vision and future plans.

Dr Eric Mayes, CEO at Endomag, said “2018 is shaping up to be the most significant year in Endomag’s history. Alongside securing this investment, we won a Queen’s Award for Enterprise in Innovation and received a 510K FDA clearance to extend the use of our Magseed® magnetic marker – and it’s only July! This funding greatly increases our ability to scale in our primary markets and drive our continued growth.”

Sian said “We have worked with Endomag for a number of years and we are delighted to have supported Eric and his team in procuring this fundraising which will enable the Company to continue with its planned product development. We are proud to support such an innovative business with its ambitious growth strategy for a technology that can revolutionise cancer treatment and which is already improving the experience for patients with breast cancer worldwide.”

To find out more about how we can help your business, please contact Sian Scanlon or Lizzie Wilson.