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§ Private Profile · Adelaide, South Australia, Australia
Surgical oncology tracer system uses magnetic nanoparticles for precise lymph node detection in complex cancers, improving staging.
Based in Mawson Lakes, South Australia, Ferronova develops a surgical oncology tracer system utilizing magnetic nanoparticles to track cancer spread to lymph nodes during complex tumor excisions for stomach, esophageal, head, and neck cancers. The medical technology company provides surgeons with specialized tools, such as the FerroTrace probe, to improve cancer staging and reduce undetected recurrence risks without relying on radioactive materials or time-sensitive logistics. The enterprise currently operates with an estimated annual revenue of under $5 million. To advance its clinical trials and commercialization efforts, the firm has secured a total of $17.5 million in Series A venture capital funding. Ferronova is financially backed by a syndicate of institutional investors that includes Uniseed, UniSuper, Artesian Venture Partners, and Powerhouse Ventures. The organization was originally founded in 2016 as a university spin-out by Richard Tilley and Bernard Thierry.
Ferronova has raised $17.2M across 3 funding rounds.
Ferronova has raised $17.2M in total across 3 funding rounds.
Ferronova has raised $17.2M across 3 funding rounds. Most recently, it raised $6.0M Series A in December 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 17, 2025 | $6M Series A | Declan Cassells, South Australian Venture Capital Fund, Uniseed | — | Announced |
| Jan 23, 2023 | $7.7M Grant | Declan Cassells | Australian Government, Uniseed | Announced |
| May 25, 2020 | $3.5M Series A | Peter Devine | Luke FAY, University OF Sydney | Announced |
Ferronova has raised $17.2M in total across 3 funding rounds.
Ferronova's investors include Declan Cassells, South Australian Venture Capital Fund, Uniseed, Australian Government, Peter Devine, Luke Fay, University of Sydney.