Canada-based urologic oncology firm Imagin Medical has announced the acquisition of the enCAGE Coil precision ablation system for prostate cancer from Belgium-based TROD Medical.
Imagin Medical also opened a new $7.25m convertible note to finance its development to support the acquisition and the product’s development.
Prostate cancer is treated with a treatment called prostate ablation in which energy such as heat, cold, lasers, or chemicals is utilised to eliminate the cancer cells. Some of the normal prostate tissue in the area may also be destroyed by the energy, said Imagin.
The enCAGE Coil provides bipolar radiofrequency energy through a unique coil electrode during minimally invasive office-based surgery.
According to the Canadian firm, it is a disposable-focused treatment precision ablation device for prostate cancer which allows complete ablation of tumour tissue with preservation of adjacent erectile nerves.
The system addresses the shortcomings of other types of thermal ablation technologies for prostate cancer that run the risk of damaging adjacent structures.
The device has FDA 510(k) approval and has been utilised by 51 patients, 20 of whom took part in a Phase II Trial. The Journal of Urology published the results of this study in April 2021.
With the addition of the enCAGE Coil device and Imagin’s flagship product, the i/Blue Imaging System for bladder cancer, the company aims to build a strong pipeline for the detection and management of urologic cancers.
Imagin president and CEO Jim Hutchens said: “We are excited to add the enCAGE Coil to Imagin’s portfolio as we build our pipeline of products.
“This additional funding will support ongoing product development and the company’s progress in bringing our products through the FDA approval process.”
