Mauna Kea Technologies closes $30 million financing round

Feb. 6, 2008
February 6, 2008, Paris, France--Mauna Kea Technologies, a leader in in-vivo cellular imaging, has closed a $30 million financing round led by U.S.-based Psilos Group.

February 6, 2008, Paris, France--Mauna Kea Technologies, a leader in in-vivo cellular imaging, has closed a $30 million financing round led by U.S.-based Psilos Group. Mauna Kea Technologies will use the proceeds to expand commercialization of its Cellvizio technology in the US and Europe, as well as to advance additional clinical applications of the platform.

"This financing will enable us to expand our U.S. presence and advance our clinical program to validate Cellvizio's utility in improving the diagnosis and treatment of disease found in the esophagus, colon, stomach, bile duct as well as the distal lungs, " said Sacha Loiseau, Ph.D., founder, president, and CEO of Mauna Kea Technologies. "We are pleased to have attracted world-caliber investors like Psilos and look forward to working with them as we continue to penetrate the GI and pulmonology markets and expand into additional markets in the future."

Founded in 2000, Mauna Kea Technologies develops and markets Cellvizio, a fundamentally new imaging approach which improves patient care by eliminating the need for unnecessary biopsies and enhances the diagnosis of a broad range of diseases via in vivo cellular imaging.

With over $500 million under management, Psilos Group is a leading healthcare private equity firm with offices in New York, the San Francisco Bay Area, and Santa Fe. David Eichler and Albert Waxman of Psilos will both join Mauna Kea Technologies' board. France-based Seventure also participated in this funding round in addition to existing investor Creadev. RBC Capital Markets acted as the exclusive agent for this private placement.

"We believe that Cellvizio represents a revolutionary advance in diagnostic imaging that has the potential to change the way physicians diagnose and treat a broad range of diseases," said Psilos Group Managing Member, David Eichler. "Sacha Loiseau has built a strong management team, and we look forward to helping them take the company to the next level of commercial development."

Mauna Kea also announced that it has changed the name of its U.S. operations to Cellvizio Inc. to strengthen brand awareness.

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