Confirma Raises $3 Million in New Financing.Business Editors RSNA RSNA Radiological Society of North America, Inc. RSNA Robust Security Network Association 2003 KIRKLAND, Wash.--(BUSINESS WIRE)--Dec. 3, 2003 Confirma, Inc., a leading provider of computer-aided-detection (CAD) for medical imaging applications, today announced that it has completed a private placement of $3 million in venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends , led by the company's current investors. These investors include Versant Ventures, Prism Venture Partners and Northwest Ventures Associates. "Confirma continues to build momentum as a strong entrepreneurial organization and leader in the medical imaging CAD marketplace and continues to be an attractive investment for us," said Duane Mason, founding general manager at Prism Venture Partners and member of Confirma's board of directors. "We are pleased to extend our long-term relationship with the company." "With our growing installed customer-base and revenues, this financing will leverage the company to an extremely strong position going into 2004," said Max Lyon, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Confirma, Inc. "We believe, the new financing will help us with our ongoing development of cutting edge products and our continued marketing and sales efforts. We are delighted by the strong support from our investor group." CADstream is a computer-aided-detection system that automates the processing of data-intensive magnetic resonance imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. (MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. ) studies and assists radiologists in the interpretation of these studies. Confirma launched CADstream in November 2002 and began shipping in January 2003. The first application of CADstream is in breast MRI, which is performed to determine extent of disease (staging), evaluate surgical margins and monitor response to treatment. Breast MRI was also recently recommended by the American Cancer Society American Cancer Society, n.pr established in 1913, this national volunteer-based health organization is committed to the elimination of cancer through prevention and treatment and to diminishing cancer suffering through advocacy, scholarship, research, as an adjunct to mammography mammography, diagnostic procedure that uses low-dose X rays to detect abnormalities in the breasts. The early diagnosis of breast cancer made possible by the routine use of mammography for screening women increases a woman's treatment alternatives and improves her for patients known to be at high risk for breast cancer. Confirma continues to outpace projected sales with CADstream installations across the U.S., and has already significantly upgraded the product to include 3D images, volume calculations and other new features. Currently, the company is exhibiting at the Radiological Society of North America The Radiological Society of North America (RSNA), founded in 1915, has the purpose to "promote and develop the highest standards of radiology and related sciences through education and research". (RSNA) meeting in Chicago, Illinois, Nov. 30 - Dec. 5, 2003, at the McCormick Place McCormick Place is an enormous exposition complex located in Chicago, Illinois. Convention Center (Hall A, Booth 1965). About Confirma, Inc. Confirma, Inc. develops and markets computer-aided-detection (CAD) systems for medical imaging applications. Confirma's product, CADstream, is the first CAD system designed for MRI. CADstream provides higher quality imaging studies, lower costs for radiology practices and improved communication tools for physicians and patients. In its initial application, CADstream is being used to assist in the analysis of breast MRI; the company plans future applications in other medical imaging studies. Confirma was recently awarded the 2003 Entrepreneurial Company Award by Frost & Sullivan for its innovative CAD technology. For more information, visit www.confirma.com or call 877/976-1226. |
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