Gamma Medica closes $18M Series A round | Wall Street Beat

Gamma Medica says it’s closed an $18 million Series A funding round for its molecular breast imaging device.

Gamma Medica said it’s closed a $16 million Series A round from Psilos Group Managers.

The Northridge, Calif.-based company said it plans to use the cash to expand the commercial footprint of its LumaGen molecular breast imaging device and the LumaGuide biopsy model.

“This funding enables Gamma Medica to provide leading-edge technology designed to aid breast radiologists in diagnosing difficult cases, particularly in women with dense breast tissue, and provides the financial capability to drive market expansion of MBI. We value our relationship with Psilos and are committed in the fight against breast cancer through early diagnosis,” president & CEO Jim Calandra said in prepared remarks.