Surefire Medical Closes Series B Funding at $18.2 Million
WESTMINSTER, Colo.--(BUSINESS WIRE)-- Surefire Medical, Inc. a commercial stage medical device company developing innovative infusion systems for minimally invasive, direct-to-target interventional procedures, announced today that it has completed a $18.2 million Series B funding. The latest financing will be used to expand product development, clinical trials, operations and marketing to meet rapidly growing national and international customer demand.
Interventional Radiologists and Interventional Oncologists currently use the Surefire Infusion System, with its first-in-class expandable tip, to treat cancers of the liver. Liver cancer is the third most common cause of cancer deaths due to metastasis and rising hepatitis B and C incidence.
Colorectal, breast, skin and kidney cancers have particularly high rates of liver metastasis.
Fewer than 20 percent of the 2.2 million worldwide cases of primary and secondary liver cancers are operable. Many can, however be treated with chemoembolization or radioembolization. The Surefire Medical infusion device’s proven ability to optimize dose delivery in these procedures and minimize or prevent damage to healthy tissue provides a minimally invasive treatment option for many liver cancer patients previously considered untreatable.
Norm Weldon of Partisan Management Group and Company Chairman commented, “We are happy to continue supporting Surefire Medical, having worked with the company’s outstanding team to develop and go to market with the industry’s first expandable tip infusion system.
“Others see the value and the promise of this groundbreaking technology as well. Although medical technology venture investing has continued its significant downward trajectory from the 2009 peak, we were able to complete the offering thanks to sophisticated Angel and Super Angel investors with whom we have long-term relationships.”
Jim Chomas, Surefire Medical CEO, said, “Thanks to the enthusiastic support of our funders we can expand our worldwide sales, particularly into the Asia-Pacific market where we recently received regulatory clearance. The funding also enables Surefire to fuel company growth with the development of our next-generation infusion system, which will reach into the smallest vessels and further advance minimally-invasive cancer treatment.”
About Surefire Medical
Surefire Medical, Inc., based in Westminster, Colo., was founded in 2009 to develop innovative infusion systems for the interventional radiology and interventional oncology markets. Surefire’s infusion systems are designed to precisely deliver embolic agents through a unique microcatheter with an expandable tip that collapses in forward flow and dynamically expands to the vessel wall in reverse flow in order to maximize targeted delivery, minimize reflux and reduce damage to healthy tissue. The Surefire Infusion System-ST, LT, mT and specialty catheters have received regulatory approval in the U.S., Europe, Canada, Australia, New Zealand and Taiwan. www.surefiremedical.com
Contact:
KOGS Communication
Edna Kaplan, 781-639-1910
Kaplan@kogspr.com
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