Veran Receives $30.6 Million in Financing to Expand U.S. and Global Footprint

Veran Medical Technologies has received $30.6 million in financing, led by Versant Ventures and River Cities Capital Funds, to help the company expand in the U.S. and enter into international markets.

The St. Louis, Mo.-based company’s products, the Spin thoracic navigation system and the SpinPerc have the goal of the early diagnosis of lung cancer.

The thoracic navigation system is an electromagnetic navigation platform that allows physicians to biopsy solitary pulmonary nodules.

SpinPerc is a hybrid lung cancer diagnostic procedure that combines navigational bronchoscopy and percutaneous navigation, to give physicians more tools in a single procedure to diagnose early stage lung cancer. — Michael Cipriano