Prescient Surgical Raises $10 Million in Series B Investment

Business Wire 28-Nov-2018 9:30 AM

Baxter Ventures leads round to accelerate availability of CleanCision, first-in-class, advanced therapy for surgical patients that fights and defends against the sources of surgical site infection

Prescient Surgical, Inc., innovator of advanced tools and technologies to fight and defend against the sources of surgical site infection (SSI), announced today that it has raised $10 million in Series B funding.

The round was led by Baxter Ventures, the venture investment arm of Baxter International, Inc. (NYSE:BAX), a global medical products company, with participation from original investors including Summation Health, CWC HealthTech Advisors, Stanford-StartX Fund, and others. The new funding will fuel the company's growth and accelerate the availability of its award-winning CleanCision therapy, the first in a new class of advanced technology that fights and defends against the sources of SSI. CleanCision is already commercially available in the United States and approved for use in Europe.

"From the start, we saw the potential to significantly lower SSI rates and the associated cost of care with CleanCision," said Eugene Chen, executive board chair, Prescient Surgical and managing partner, CWC HealthTech Advisors. "Today, the company is working with leading hospital systems to integrate this innovative therapy into their infection control protocols. Our latest round of investment signifies the confidence and belief we have in the company's team and its approach to addressing the critical unmet need in infection prevention."

SSI, especially in abdominal surgery, is a constant threat to patients and hospitals. It is estimated that 3 out of 20 patients undergoing high-risk abdominal surgery will develop an infection.^{1, 2, 3} CleanCision was designed by surgeons and infection control experts to help hospitals gain control over the sources of SSI. Unlike traditional methods, which cannot continuously and consistently clear contamination from the surgical site, CleanCision utilizes active cleansing technology to clear harmful bacteria that may invade the incision during surgery when the threat of wound contamination is at its highest.

"We brought together a world class mix of venture, hospital, and corporate strategic investors in support of our mission to help hospitals achieve zero preventable infections," said Jonathan Coe, CEO, Prescient Surgical. "CleanCision is emerging as a key technology to advance the standard of care for surgical patients."

About Prescient Surgical

Based in San Carlos, Calif., Prescient Surgical, Inc. is a medical device innovator that makes advanced tools and technologies to fight and defend against the sources of surgical site infection.

Stay up to date by following us on Twitter: @PrescientSurg and on LinkedIn: https://www.linkedin.com/company/prescient-surgical/

1. Watanabe A, Kohnoe S, Shimabukuro R, et al. Risk factors associated with surgical site infection in upper and lower gastrointestinal surgery. Surg Today. 2008;38(5):404-412.

2. Wick EC, Vogel JD, Church JM, Remzi F, Fazio VW. Surgical site infections in a "high outlier" institution: are colorectal surgeons to blame? Dis Colon Rectum. 2009;52(3):374-379.

3. Sutton E, Miyagaki H, Bellini G, et al. Risk factors for superficial surgical site infection after elective rectal cancer resection: a multivariate analysis of 8880 patients from the American College of Surgeons National Surgical Quality Improvement Program database. J Surg Res. 2017;207:205-214.

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