ALISO VIEJO, Calif.--(BUSINESS WIRE)--Cianna Medical, a leading breast brachytherapy company, announced today that it has successfully completed a funding round totaling $12 million. The Series B round was led by an investment of $8 million from Novo Ventures, Novo A/S. Continuing investors participating in this round were Fog City Fund, Emergent Medical Partners, and Saints Capital.
Investor proceeds will be used to expand sales and marketing programs for the SAVI® breast brachytherapy applicator, a multicatheter device that provides accelerated partial breast irradiation (APBI), in the U.S. and internationally. Funds will also be earmarked for development of new products that are synergistic to the company’s core business in radiation oncology and surgery.
“The commitment from Novo Ventures and our existing investors will allow us to accelerate our growth and to make the benefits of breast brachytherapy available to many more women,” said Jill Anderson, Cianna’s President and CEO. “Women deserve choices in their breast cancer treatment. For those who choose breast conservation therapy, we firmly believe their radiation treatment options should include a technology designed to more precisely target the radiation thereby minimizing exposure to healthy tissue.”
The innovative SAVI applicator delivers a shortened, five-day course of high-dose radiation therapy for early-stage breast cancer patients following lumpectomy surgery. SAVI is the only single-entry breast brachytherapy device that allows physicians to customize radiation based on patient-specific anatomy.
“SAVI radiation treatment provides a compelling alternative to whole breast irradiation, as more women seek a simpler, shorter course of therapy,” said Heath Lukatch, PhD, a partner in Novo Ventures, Novo A/S. “Cianna Medical has a strong, knowledgeable management team that has a successful track record in addressing the unmet needs of women and clinicians in the breast cancer market.”
The Series B financing round comes as Cianna Medical continues to experience double-digit growth following adoption of the SAVI device by hundreds of leading breast cancer treatment facilities across the country.
“With SAVI well established clinically and increasingly popular with patients, the company is now even better positioned to continue its growth,” said Nancy Olson, Managing Partner of Fog City Fund.
Clinical studies on SAVI have been authored by internationally known radiation oncology experts such as Robert Kuske, M.D., and by researchers from institutions such as MD Anderson Cancer Center and UC San Diego Moores Cancer Center. These studies show the multicatheter radiation treatment can make the benefits of APBI available to twice as many women, as well as result in better outcomes including less skin toxicity, reduced risk of infection and improved cosmesis.
Heath Lukatch and Tiba Aynechi, PhD, a Principal in Novo Ventures, Novo A/S, join the Cianna Medical Board of Directors, whose other members are: Nancy Olson, Managing Partner of Fog City Fund; Zack Scott, MD, a Vice President of Saints Capital; Paul McCormick, former President and Chief Executive Officer of Endologix; Steven L. Gex, Chairman of Cianna Medical; and Jill Anderson.
SAVI animation: http://www.ciannamedical.com/for_women/savi_anim.htm
About Cianna Medical, Inc.
Cianna Medical, Inc. is a medical device company focused on women's health and dedicated to the innovative treatment of early-stage breast cancer. The company manufactures and markets the SAVI breast brachytherapy applicator, for the delivery of radiation after lumpectomy surgery. The SAVI applicator allows precise sculpting of the radiation dose, and is designed to make the benefits of accelerated partial breast irradiation available to a greater number of women.
For more information, call (toll-free) 866-920-9444 or visit www.ciannamedical.com/.