SamanTree Medical Pockets $15M in Series B Financing

SamanTree Medical has closed a $14 million investment as part of a Series B financing round.

The company said the new capital will be used to further develop and commercialize its CE-marked Histolog scanner. The funds will also be used to expand its reach in Europe and the U.S., as well as boost its digital suite.

The Histolog scanner, based on ultra-fast confocal microscopy, provides high-resolution imaging of fresh tissue surfaces during surgery. This enables pathologists and surgeons to undergo real-time, intra-operative assessment of resected tissue more quickly than conventional techniques, according to SamanTree.

The scanner covers a broad range of surgical applications and can enhance accuracy of tissue removal or biopsy.

SamanTree will establish its headquarters and an operational base in Wallonia, Belgium in conjunction with this financing round. The company’s R&D operations will remain in Lausanne, Switzerland.

The company is anticipated to expand commercial operations in Europe and is planning for entry into the U.S. market later this year. The move will involve scaling the Histolog scanner’s deployment, bolstering clinical trials, and obtaining necessary U.S. Food and Drug Administration (FDA) marketing authorizations.

In addition, the company added two new members to its board of directors:

• Claire Poulard, Investment Director at Turenne Capital
• Henry Charlton, SVP and Chief Commercial & Marketing Officer at Intuitive

“We are elated by the robust support from our investors, which highlights SamanTree Medical’s impressive progress,” said SamanTree CEO Olivier Delporte. “This funding, coupled with our strengthened Board, will enable us to accelerate our innovation, expand globally, and enhance our digital solutions, thereby delivering greater value to patients. I also want to thank the Walloon investors WE Life Sciences and Noshaq for their continuing support and effort to strengthen the local life sciences ecosystem.”