BDC Capital, EDC invest in venture-backed Exact Imaging

Toronto-based Exact Imaging, a maker of micro-ultrasound systems enabling real-time imaging and biopsy guidance for the prostate, has raised C$5.1 million in financing.

Toronto-based Exact Imaging, a maker of micro-ultrasound systems enabling real-time imaging and biopsy guidance for the prostate, has raised C$5.1 million in financing. The investors are BDC Capital, through its Bridge Financing Program, and Export Development Canada. Exact Imaging’s other investors include iGan Partners, Lumira Capital, PMV and Vesalius Biocapital.

PRESS RELEASE

TORONTO, March 23, 2021 /PRNewswire/ – Exact Imaging (www.exactimaging.com), the world’s leader in high resolution micro-ultrasound systems enabling real-time imaging and biopsy guidance for the prostate, announces $5.1M in financing provided by BDC Capital, through the Bridge Financing Program, and Export Development Canada (EDC).

“We are thrilled to have BDC Capital and EDC as new investment partners.” says Randy AuCoin, Exact Imaging’s President and CEO. “BDC Capital’s and EDC’s investment in Exact Imaging will allow us to continue to drive adoption of our novel ExactVu micro-imaging platform throughout Canada, USA, Europe and to new markets around the world. This significant investment in innovative Canadian technology will strengthen Canada’s position as a leader in the medical technology space.”

“While the medical technology sector is growing in Canada and worldwide, innovations are welcomed to overcome challenges of access, availability, and affordability.” said Jérôme Nycz, Executive Vice President, BDC Capital. ”BDC Capital’s financing will allow Exact Imaging to continue to improve lives of patients through early detection of prostate cancer and scale their operations as a global hub of advanced innovative technologies.”

BDC Capital’s Bridge Financing Program aims to support eligible Canadian venture firm-backed companies impacted by COVID-19 who may not qualify for many of the federal government relief measures.

About BDC Capital:
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. For more information, visit www.bdc.ca/capital

About EDC:
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence.

About Exact Imaging:
Exact Imaging (www.exactimaging.com) is the world’s leader in high-resolution micro-ultrasound systems enabling real-time imaging and guided biopsies in the urological market for prostate cancer. Exact Imaging’s ExactVu™ micro-ultrasound platform operates at 29 MHz and enables a whole new level of resolution with the benefits of ease of use, affordability, and is an extension of the current urological workflow. Using the Exact Imaging platform, urologists are able to visualize areas of interest in the prostate and specifically target biopsies at those areas. For those cases where MRI might assist (i.e., prior negative biopsies), the FusionVu™ micro-US/MRI fusion application operates on the ExactVu micro-ultrasound platform and facilitates MRI fusion-based targeting. The ExactVu micro-ultrasound system including the FusionVu application have received regulatory approval in the European Union (CE Mark), the United States (FDA 510(k)) and Canada (Health Canada medical device license).