One of New Hampshire’s newest companies is not only one we helped to relocate here, but it’s one that’s on the forefront of technology and women’s health.
Gamma Medica is evolving technology to improve breast cancer detection and has opened a product design, engineering and manufacturing plant in southern New Hampshire, the latest business to locate in a region becoming known for its bio-medical industry.
Gamma Medica, Inc. develops, markets and services the LumaGEM® MBI system, a digital molecular breast imaging system enabling radiologists to detect early stage cancers that can be missed in women with mammographically dense breast tissue. It is leasing 8,000-square feet at 12 Manor Parkway and plans to hire about 30 people in the next year.
Since then, technology has been developing high-quality, high-resolution systems to detect tumors at 5 millimeters. Through a non-invasive procedure, women whose mammograms are inconclusive can opt for MBI testing. It’s about one-third of the cost of an MRI, which is used for further analysis of dense breast tissue.
While mammography is an excellent tool in the detection of breast cancer, it does have limitations, said Dr. Robert C. Hannon of Salem Radiology.
“The development of molecular breast imaging, and its ability to identify even small early cancers, is a most welcome addition,” Hannon said. “Gamma Medica, through its Luma GEM MBI System, has refined the technique so it is simple, safe and accurate. This technology will be a significant asset to physicians, as they continue their efforts against this disease.”
Earlier this summer, Gamma Medica closed on a $16 million Series A financing round from healthcare investment firm, Psilos Group Managers. This funding enables Gamma Medica to expand commercialization of the LumaGEM MBI system, its companion product, the LumaGUIDE® MBI-guided biopsy module, and be used to finance additional post-market clinical studies.
Calandra said locating this company in Salem made sense and not just because of New Hampshire’s low tax structure.
“There is a strong medical device presence here and we are close to Boston, where there is a prevalence of medical device companies along Route 128 and around the Merrimack Valley,” he said, adding that being close to some of the finest hospitals in the country was also an important consideration in locating here.
Southern New Hampshire is developing a strong medical device cluster, said Michael Bergeron, business development manager for the New Hampshire Division of Economic Development, who assisted Gamma Medica in its move to the state.
“The company was looking to locate in a place where there is access to talented employees, universities, and hospitals, as well as low operating costs,” Bergeron said. “New Hampshire has all of that.”
Gamma Medica will celebrate its grand opening on Oct. 11.
NH Division of Economic Development