Los Gatos-Based NeoGuide Raises $25 Million for Colonoscopy Technology

Los Gatos, Calif. -- NeoGuide Systems, a Los Gatos-based developer of technology used to prevent and treat colorectal cancer, said that it has raised $25 million in its third round of funding. The round was led by the London-based Advent Venture Partners, with a long list of previous investors also participating. NeoGuide is developing a computer-assisted colonoscopy system designed to enhance physician control of the colonoscope. The company received FDA clearance of its system earlier this year and expects to begin commercialization in 2007. It plans to use the new capital to ramp up manufacturing, as well as expand its sales and service organizations. Colorectal cancer is the second leading cause of cancer deaths in the U.S.
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