OncoRes Medical Raises A$27 Million to Advance Real-Time Breast Cancer Surgery Imaging Technology
核心洞察
OncoRes Medical (搜索) closed an A$27 million funding round led by Brandon Capital Partners (搜索) to advance its Elora (搜索) Quantitative Micro-Elastography imaging system for breast-conserving surgery.
The Perth-based company has initiated an Australian clinical trial across six hospitals recruiting over 110 breast cancer (搜索) patients, marking the first interventional use of the Elora (搜索) device.
Elora (搜索) provides real-time tumor assessment during surgery by creating micro-scale 3D maps of tissue properties to help surgeons identify residual cancer and potentially reduce repeat operations.
OncoRes Medical (搜索), a Perth-based medical device company, has secured A$27 million in private funding to advance clinical development of its Quantitative Micro-Elastography (QME) Imaging System, Elora (搜索), designed to improve outcomes in breast-conserving surgery through real-time tumor assessment.
The funding round was anchored by Brandon Capital Partners (搜索)' BB6 Fund, with participation from Morgans, Radar Ventures, Australian and international family offices, and The Table Club network. The capital will support the company's ongoing Australian clinical trial program, continued product development, regulatory work, and manufacturing preparation for a U.S. pivotal trial.
Addressing Critical Clinical Need
Elora (搜索) targets a significant clinical challenge in breast cancer (搜索) surgery. According to OncoRes, approximately one in five women who undergo breast-conserving surgery (BCS) are required to return to the operating room for repeat operations to remove residual tumor tissue. These additional procedures carry higher complication risks and create substantial psychological, physical, and financial burdens for patients, families, and healthcare systems.
"We believe that all breast cancer (搜索) patients deserve the opportunity to move beyond their breast cancer surgery knowing that all the cancer has been completely removed," said Dr. Katharine Giles, Chief Executive Officer of OncoRes Medical (搜索).
Technology and Clinical Application
The Elora (搜索) system uses a probe inserted into the surgical cavity after the main specimen is excised, generating micro-scale three-dimensional maps of the scanned region's mechanical and optical properties. Because cancerous tissue can vary in stiffness relative to healthy tissue, these maps can help identify microscopic or otherwise non-palpable residual cancer within the cavity.
OncoRes has initiated an Australian clinical trial across six hospitals in Western Australia and Victoria, recruiting more than 110 breast cancer (搜索) patients. This trial represents the first time the Elora (搜索) device will be used interventionally, marking a significant milestone in the technology's development.
Regulatory Pathway and FDA Recognition
The company received FDA Breakthrough Device Designation in 2020, a status intended to support the timely development of medical technologies that may offer more effective treatment for life-threatening or irreversibly debilitating conditions. OncoRes stated that this designation supports its regulatory pathway to U.S. approval and could expedite access and reimbursement considerations following FDA approval.
Leadership and Future Expansion
As part of its preparation for U.S. market entry, OncoRes has added Renee Ryan to its board of directors. Ryan, co-founder and CEO of PinPrint (搜索), brings decades of experience in healthcare and medical device industry leadership, strategic innovation, and capital raising.
"I've spent my career working with innovators who reshape what's possible in the operating room, and OncoRes stands out for both its technology and its unwavering focus on patient impact," Ryan stated.
The company plans to use the funding to expand its team and progress proof-of-concept work in additional cancer indications, including prostate cancer (搜索). OncoRes traces its innovation to technology developed at the University of Western Australia, the Harry Perkins Institute (搜索), and the Western Australian Department of Health.
Dr. Giles emphasized the broader significance of the funding: "This injection of capital represents a strong endorsement of our technology and its potential to positively impact so many lives. Expanding the reach and impact of this innovative, patient-centric technology at home and abroad represents a meaningful achievement for Australia's innovation sector at large."
The Elora (搜索) system remains in research and development and is not yet available for commercial sale worldwide.