SamanTree Medical raises $14 Million in Series B financing round

SamanTree Medical, a leading medical technology company specialising in innovative solutions to improve the outcomes of surgery, announced the closing of $14 Million as part of a Series B financing round.

The new capital will be used to further develop and commercialise the Histolog® Scanner, expand its reach in Europe and the United States, and enhance its digital suite.

The round was led by Relyens Innovation Santé, advised by Turenne Capital, and saw participation from new investors Mutuelles Impact, Wille Finance, Noshaq and WE Life Sciences (Wallonie Entreprendre), along with returning investors Panakès Partners, BOM and b2venture.

In conjunction with this financing round, SamanTree Medical will establish its headquarters and an operational base in Wallonia (Belgium), while the R&D operations will remain in Lausanne, Switzerland. Fraser Partners acted as the sole financial advisor to SamanTree Medical SA.

CEO Olivier Delporte explained: “We are elated by the robust support from our investors, which highlights SamanTree Medical’s impressive progress. This funding, coupled with our strengthened Board, will enable us to accelerate our innovation, expand globally, and enhance our digital solutions, thereby delivering greater value to patients. I also want to thank the Walloon investors WE Life Sciences and Noshaq for their continuing support and effort to strengthen the local life sciences ecosystem.”

Strategic Vision and Global Expansion

As part of the financing conditions, SamanTree Medical is set to expand its commercial operations in Europe and is planning for US market entry later in 2024. This strategic move will involve scaling the deployment of the Histolog Scanner, bolstering clinical trials, and working to obtain necessary marketing authorisations from the U.S. FDA.

Source: press release