Cadens Imaging raises $2.7 million

GRANBY, QC, Dec. 3, 2012 /CNW Telbec/ - Cadens Imaging, a company specializing in the development of advanced visualization solutions in computer-assisted medical imaging, has announced the conclusion of a $2.7 million venture capital fundraising campaign.

Cadens Imaging raised this capital through a seed funding round orchestrated by Desjardins-Innovatech in association with the Fonds de solidarité FTQ Investissements technologiques (FSIT) and Anges Québec, in partnership with a group of angel investors, FIER Montestrie Capital, FIER Croissance Durable, FIER Innovation Durable and FIER Succès.

Jean-Pierre Robert, President and CEO of Cadens Imaging said, "We are extremely pleased to acquire this funding. It will be used to boost marketing for our core product, Cadens Colon, in Canada, Europe and Asia, expand our network of distribution partnerships and develop our technology platform with the addition of new applications for noninvasive cancer screening and patient follow-up." A new product for lung cancer screening is currently in the development phase.

"Constant advances in medical imaging acquisition equipment, as well as a significant increase in the role of radiologists in the patient management cycle require the support of increasingly innovative software solutions," explained Florent Chandelier, Vice-President of R&D and Regulatory Affairs at Cadens Imaging. "In response to these expectations, we have developed an innovation cycle to directly meet image interpretation and analysis needs by ingeniously integrating 2D and 3D imaging, while keeping ergonomics simple. This allows radiologists to focus on what is most important: diagnosis. This approach gives us a unique position in the market."

About Cadens Imaging

Founded in 2007, Cadens Imaging is a privately owned Canadian research and development company with a leading position in medical imaging. With strong technical and clinical expertise in virtual endoscopy, the company has developed a technology platform to design and produce advanced visualization solutions for the analysis and interpretation of diagnostic images. Cadens Imaging works in close partnership with leaders in the field of medical imaging to distribute its products and to develop new applications.

About Desjardins-Innovatech S.E.C.

This company was created in July 2005 through a joint initiative of the Government of Québec and Capital régional et coopératif Desjardins. Its assets are managed by Desjardins Venture Capital. Innovatech S.E.C. activities in the region of Sherbrooke were initiated in 2008 and consist mainly in investing in start-up or phase one development companies, particularly those involving technological innovation or companies in the industrial sector.

About Fonds de solidarité FTQ

Created in 1983, the Fonds de solidarité FTQ is a development capital fund that calls upon the solidarity and savings of Quebecers to help fulfill its mission to contribute to Québec's economic growth by creating and protecting jobs through investments in small and medium-sized businesses in all spheres of activity. The Fonds also seeks to encourage Quebecers to save for retirement and to offer its over half a million shareholders-owners a reasonable return over and above the outstanding tax benefits they receive by purchasing Fonds shares.

About the Anges Québec Capital fund

The Anges Québec Capital fund totals $30 M coming from a $20 M contribution from the Government of Québec through Investissement Québec and a $10 M investment from Anges Québec members. This support fund will help Anges Québec members invest more capital in innovative Québec companies at the start-up phase, and help them develop even more such promising business projects province wide. For more information, go to www.angesquebec.com

About the FIER fund

The Regional Economic Intervention Fund (FIER) is a development fund designed to provide businesses with a source of capital (equity or quasi-equity) during the start-up, development, turnaround and succession stages. FIER also aims to support the creation of sector-based funds and the implementation of growth-generating projects, mainly in outlying areas of the province.

SOURCE: CADENS Imaging

For further information:

Raphaëlle Imbernon - Director of Marketing
Tel: (450) 956-3456, ext. 5108
Fax: (450) 991-3456
raphaelle.imbernon@cadensimaging.com