Mentioned:
A publicly traded company in Canada wants to change the future of breast cancer surgery. And they have just landed a critical regulatory approval to do it.
What’s happening:
- Perimeter Medical Imaging (TSXV: PINK) has received premarket approval from the United States Food and Drug Administration for their artificial intelligence enabled imaging device for intraoperative breast cancer margin assessment known as Claire
Why it matters:
- Entrepreneur and venture capitalist Chamath Palihapitiya has invested over $40M CAD into Perimeter Medical Imaging through his family office Social Capital and owns roughly a third of the entire company
Going deeper:
- Perimeter Medical Imaging’s Claire device is the first device to be approved in the United States that leverages artificial intelligence to detect cancer that is extremely difficult to see during breast conserving surgeries and has the potential to reduce the need for secondary operations
- The new approval from the United States Food and Drug Administration will allow Perimeter Medical Imaging to begin to sell their Claire device to hospitals and surgical centres in America as a Class III device
