Cairn Surgical – an innovative medical technology company aiming to make breast cancer surgery more precise – announced that it has closed $4.5 million in a Series A2 financing led by Morningside Ventures.
The company will use the new funds to complete the currently enrolling U.S. pivotal trial of its Breast Cancer Locator (BCL) System and implement a limited commercial launch of the technology in select European markets.
The current Breast Conserving Surgery (BCS) often fails to remove the entire tumor (about 20% of the time), primarily due to current breast tumor localization techniques that do not provide the information required to achieve precise removal of the entire tumor. And the BCL System is designed to improve the accuracy of breast-conserving surgery (lumpectomy) by providing critical information about the tumor to the surgeon, including size, shape, and precise location.
The BCL System has been personalized for each patient and based on a supine MRI of the breast in its surgical position for the greatest accuracy. And the BCL System is a customized 3D-printed form that fits the unique shape of that patient’s breast and is expected to guide the surgeon to the tumor’s boundaries and margins. An interactive 3D computer model of the tumor in the breast showing tumor shape, size and location is also provided to the surgeon.
KEY QUOTES:
“We are delighted to have the continued support of Morningside Ventures, who believes in our vision of improving both outcomes for breast cancer patients and the healthcare economics of breast cancer surgery. By giving breast cancer surgeons detailed and critical information that they don’t have today, we intend to transform the surgical experience and through that, improve the patient experience, reducing the need for reexcision surgery.”
- Cairn Surgical CEO David Danielsen
“Cairn Surgical has been – and continues to be – a key medtech investment for us. The company’s innovative image-derived guidance solution for breast cancer lumpectomy is showing great promise and progress, and has shown outstanding clinical results in its European clinical trial. We are excited about its potential to significantly improve patient care, as well as reduce costs to the healthcare system.”
- Mick Sawka, investment advisor with Morningside Ventures
