GE Capital backs Cianna Medical in $8m round

Cianna Medical said today that it raised $8 million for its Savi Scout breast cancer device, including a $4 million debt round from GE Capital and another $4 million equity round from existing backers. Aliso Viejo, Calif.-based Cianna’s Savi Scout is designed to produce audible and visual indicators surgeons can use to tag cancerous tissue during lumpectomy and biopsy procedures. The surgeon uses a hand piece that emits infrared light and electromagnetic waves to locate a reflector placed in target tissue as long as a week before surgery. After reaching the surgical bulls-eye, the surgeon takes out the target tissue and the reflector, according to the company. No radiation is involved. It is designed for breast conservation surgery, where surgeons remove all detectable cancer cells. The device won 510(k) clearance from the FDA in December 2014. Cianna said the investors in its latest funding round included Novo Ventures, Fog City Fund, Saints Capital and Emergent Medical Partners. Proceeds from the round are earmarked for Savi Scout’s national launch, the company said. “We appreciate the support of our investment partners, and these additional funds will enable us to devote appropriate resources to launch our newest product, Savi Scout,” president & CEO Jill Anderson said in prepared remarks. “We’re excited to build on our position as a market leader in breast brachytherapy, and believe our transformative technology for better gui...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Funding Roundup Surgical Women's Health Breast Cancer Cianna Medical Source Type: news