Allied Minds’ subsidiary raises $5.0m

Allied Minds’ subsidiary Precision Biopsy has raised an additional $5.0 million in new equity from the sale of additional Series A Preferred shares to investor Woodford Investment Management, as the company continues its global commercialization strategy for its ClariCore Biopsy System, a device platform designed to provide accurate, real-time classification of prostate tissue during biopsy procedures.

The funds will also be used to continue the development of the company’s Focal Therapy programme, which seeks to provide targeted, localised therapy to the prostate gland by using the same optical tissue-targeting technology found in the ClariCore system.

“We are delighted to receive the additional support from our leading institutional investor as we prepare to bring our ClariCore Biopsy System to market,” said Amir Tehrani, chief executive officer of Precision Biopsy. “We believe that the ClariCore system will help to improve the diagnostic process for millions of patients who undergo biopsy procedures each year to monitor for prostate cancer, the second-most deadly cancer in men after lung cancer.”

Story provided by


Claim 12 issues of MoneyWeek (plus much more) for just £12!

Let MoneyWeek show you how to profit, whatever the outcome of the upcoming general election.

Start your no-obligation trial today and get up to speed on:

  • The latest shifts in the economy…
  • The ongoing Brexit negotiations…
  • The new tax rules…
  • Trump’s protectionist policies…

Plus lots more.

We’ll show you what it all means for your money.

Plus, the moment you begin your trial, we’ll rush you over THREE free investment reports:

‘How to escape the most hated tax in Britain’: Inheritance tax hits many unsuspecting families. Our report tells how to pass on up to £2m of your money to your family without the taxman getting a look in.

‘How to profit from a Trump presidency’: The election of Donald Trump was a watershed moment for the US economy. This report details the sectors our analysts think will boom from Trump’s premiership, and gives specific investments you can buy to profit.

‘Best shares to watch in 2017’: Includes the transcript from our roundtable panel of investment professionals – and 12 tips they’re currently tipping. The report also analyses key assets, including property, oil and the countries whose stock markets currently offer the most value.