Cianna Medical, a US-based medical device maker for treating breast cancer, has raised $12m in its series B round, two-thirds of which came from lead investor Novo Ventures, the corporate venturing unit of Denmark-based healthcare foundation Novo.
The B round money will be used to expand sales and marketing programs for Cianna’s Savi applicator.
As part of the investment, Heath Lukatch and Tiba Aynechi, a partner and principal in Novo Ventures respectively, join Cianna’s board.
Lukatch said: "Savi radiation treatment provides a compelling alternative to whole breast irradiation, as more women seek a simpler, shorter course of therapy."
The other investors providing the remaining $4m were venture capital firms Fog City Fund and Emergent Medical Partners, and secondaries investor Saints Capital.
Cianna Medical was created as a spinout from BioLucent in 2007 – the same year the company received clearance for Savi from the US Food and Drug Administration – and its first funding round of $9m was completed in February 2008. Fog City was an initial investor in BioLucent.
In April 2009, Cianna raised $10m from Emergent, Saints and Fog City, as well as Japan-based industrial group Mitsubishi International Corporation.