Thursday, May 15, 2008

OmniGuide focuses on $25M in fifth funding round

OmniGuide Inc., a developer of laser scalpels used in minimally invasive surgeries, reports it has closed a $25 million Series E round of private equity financing.

The fresh capital is expected to fund the Cambridge-based firm's plans to broaden the use of its laser system in the areas of otology, spinal surgery, neurosurgery, gastroenterology and gynecology, said company CEO Yoel Fink, in a statement.

Psilos Group, a private equity and venture capital firm with an office in New York, led the round, which included previous investors Stata Venture Partners, 3i private equity and VC firm, Argonaut Ventures, Electro Scientific Industries Inc., Gainesborough Investments and Westbury Partners, OmniGuide said.

The company told Mass High Tech about its Series E round last month.

Founded in 2000, OmniGuide is focused on the delivery of carbon dioxide lasers through flexible fibers that enable surgeons to reach difficult-to-access tissues in the body. The firm has now raised a total of $74.5 million in private capital.