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MEDICAL DEVICE INDUSTRY NEWS
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Aliso Viejo-based Cianna Medical secures $12 million

The financing round was led by an $8 million investment from Novo Ventures, Novo A/S.

By Kristen SchottPublished: April 28, 2011 02:33 PM

Breast surgeon Kristi Funk appeared on the TV show 'The Doctors' to talk about the SAVI device.
Aliso Viejo-based Cianna Medical has raised $12 million through its most recent funding round, which was led by an $8 million investment from Novo Ventures, Novo A/S. The medical device maker plans to use the capital to support its SAVI breast cancer treatment.

The multicatheter device provides a quickened five-day treatment of high-dose radiation for early-stage breast cancer patients following the surgical removal of a tumor. With the funding, Cianna expects to strengthen sales and marketing programs in the U.S. and world – this at a time when the product has achieved double-digit growth as facilities across the nation have begun to implement it as a therapy option.

The product is the only single-entry breast brachytherapy device that lets medical professionals tailor radiation based on a patient's anatomy, according to Cianna.

“SAVI radiation treatment provides a compelling alternative to whole breast irradiation, as more women seek a simpler, shorter course of therapy,” said Heath Lukatch, Ph.D., a partner in Novo Ventures, Novo A/S.

In addition, Cianna plans to set aside funding for the development of other radiation oncology and surgical devices.

“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.”

Other investors participating in the round include Fog City Fund, Emergent Medical Partners and Saints Capital.

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