CrannMed, a medical technology company, has secured $14.7 million in a recent funding round. Founded in 2018, CrannMed is dedicated to advancing resorbable embolisation solutions for patients globally by integrating expertise in clinical science, material science, and delivery systems. This investment marks a significant milestone for the company as it progresses its innovative medical device portfolio.
The company's core innovation lies in its resorbable microspheres, which offer a distinct advantage over traditional permanent microspheres used for conditions like liver cancer and uterine fibroids. Unlike permanent solutions, CrannMed's resorbable microspheres are designed to restore blood flow to the targeted area after achieving the desired therapeutic effect. This capability opens new treatment avenues for indications such as Knee Osteoarthritis (KOA) and Adhesive Capsulitis (Frozen Shoulder), and also holds potential to replace permanent beads in existing applications.
Beyond its range of resorbable microspheres, CrannMed is also developing a next-generation microcatheter to improve access for these unique applications. Additionally, a flow-directed delivery system is in development to protect collateral vessels and prevent non-target embolisation, enhancing treatment precision and safety. The $14.7 million in capital will be strategically deployed to accelerate the development and commercialization of these advanced technologies.
This funding round underscores investor confidence in CrannMed's potential to innovate within the interventional medicine space. The company plans to use the funds to expand its research and development efforts, scale its operational capabilities, and prepare for broader market entry. CrannMed is poised to continue its mission of delivering groundbreaking resorbable embolisation therapies, aiming to improve patient outcomes across a wider range of medical conditions.
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