Epoch Partner Investments, an international company with extensive contacts in the health sector, is investing $21.2 Million in IceCure Medical Ltd. (TASE: ICCM), the developer of IceSense3 Cryoablation System to treat breast disease.
Cryoablation is a technique of using extreme cold to destroy targeted tissue. The procedure usually takes about 10-15 minutes, with no pain and virtually no scarring.
In November 2014 IceCure announced that the John Wayne Cancer Institute (JWCI) at Saint John’s Health Center in Santa Monica, CA, had treated its first breast cancer patient using the IceSense3™ Cryoablation System.
It was a pilot study evaluating immune responses in patients with operable breast cancer. In the study, patients underwent cryoablation of their breast cancer before surgery and blood draws at their scheduled office visits.
Cryoablation has been used for years in medical applications such as dermatology, kidney, prostate and liver, to treat both cancerous and non-cancerous tumors. The IceSense3™ Cryoablation System was designed for efficient and effective treatment of breast tumors. The system has 510k FDA-approval for benign and malignant disease.
Icecure believes Epoch will help in successfully implementing a global sales strategy, as well as in efforts to find strategic partners.
Icecure CEO Hezi Himelfarb said in a statement:
“The amount of the investment indicates the degree to which the freezing technology we developed may be a breakthrough in the treatment of breast cancer, and serve as a platform for other future therapies with high marketing potential.
“We are convinced that Epoch’s leadership will help us utilize this unique and innovative technology and the benefits it brings with, to achieve both clinical and business objectives in shorter periods of time.”