DOBI Systems aquires $12 million financing

Privately held DOBI Medical Systems announced that it has arranged for $12 million in private equity with Sterling Financial Investment Group of Boca Raton, FL. The money will be used to further the engineering, design, and clinical testing of DOBI's patented breast cancer diagnosis system.

The Dynamic Optical Breast Imaging (DOBI) system recently commenced clinical tests as an investigational device at a number of sites in the U.S.

The DOBI system will be used initially as an adjunct to traditional mammography. It operates by detecting the effects of increased vascularization (angiogenesis) associated with the growth of malignant lesions.