ClearCut Medical

Company Overview

Snapshot

Founded in April 2010 by Erez Golan and Eyal Kolka, ClearCut Medical operates with 11–50 employees. The company has secured $707,070 across two funding rounds, with Previz Ventures participating in one round. In March 2018, the Australian Department of Health's Therapeutic Goods Administration (TGA) issued a Therapeutic Goods Certificate for its ClearSight MRI System, marking a key regulatory and market expansion milestone.

Business overview

ClearCut Medical develops and commercializes solutions for accurate and effective cancer removal, leveraging magnetic resonance imaging (MRI) protocols. Its core technology, the ClearSight MRI System, provides rapid surface imaging for real-time margin assessment of excised tissue directly in the operating room. Initially focused on breast cancer lumpectomies to reduce re-excision rates, the company plans future applications in prostate and breast cancer biopsies, skin cancer excisions, and other oncological areas including colorectal and lung cancers. ClearCut Medical serves the healthcare and life sciences sectors, specifically targeting hospitals and surgeons with its medical devices.

Strategic signal

In July 2019, ClearCut Medical appointed Jim Buck as President & CEO, signaling a strategic transition from a development-stage company to a commercial-stage enterprise. This leadership change, bringing in a CEO with extensive experience in commercializing medical technologies, indicates the company's readiness to accelerate the European launch of its ClearSight system and expand its market presence, aiming to improve cancer patient care through intra-operative MRI technology.

Company Intelligence Q&A

What is ClearCut Medical's primary product?

ClearCut Medical's primary product is the ClearSight MRI System, which enables intraoperative margin assessment of surgically removed lumps, initially focused on breast cancer lumpectomies.

When was ClearCut Medical founded and by whom?

ClearCut Medical was founded in April 2010 by Erez Golan and Eyal Kolka.

What significant regulatory approval did ClearCut Medical receive in Australia?

In March 2018, the Australian Department of Health's Therapeutic Goods Administration (TGA) issued a Therapeutic Goods Certificate for ClearCut Medical's ClearSight MRI System, enabling its supply to surgical cancer centers in Australia through Surgeon Choice Australia Pty Ltd.

What was the strategic importance of Jim Buck's appointment as CEO?

In July 2019, ClearCut Medical appointed Jim Buck as President & CEO, replacing Armin Schon, PhD. This appointment was a strategic move to transition the company from a development stage to a commercial stage, leveraging Buck's experience in commercializing medical technologies.

What is the total capital raised by ClearCut Medical?

ClearCut Medical has raised a total of $707,070 across two funding rounds.