[Funding News] CairnSurgical Secures $4.5 Million Series A2 Financing

CairnSurgical, Inc., an innovative medical technology firm striving to make breast cancer surgery more precise, announced that it has closed $4.5 million in a Series A2 financing, led by Morningside Ventures.

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The company will use these 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.

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Current Breast Conserving Surgery (BCS) fails to remove the entire tumor about 20 percent of the time, primarily because current breast tumor localization techniques do not provide the information required to achieve precise removal of the entire tumor. 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 is personalized to each patient and based on a supine MRI of their breast in its surgical position for greatest accuracy. The BCL System is a customized 3D-printed form that fits the unique shape of that patient’s breast and is intended 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.

“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,” said Cairn Surgical CEO David Danielsen. “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.”

“CairnSurgical has been – and continues to be – a key medtech investment for us,” said Mick Sawka, investment advisor with Morningside Ventures. “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.”

About CairnSurgical

CairnSurgical, Inc. is developing patient-specific guides using patient imaging data and state-of-the-art 3D printing technologies that are commercially available in Europe and being studied in a U.S. pivotal trial. CairnSurgical’s Breast Cancer Locator (BCL) System is designed to enable precise tumor localization and excision.