CA-based Clinical-Stage medical technology company savage medical secures over $3M in total funding including oversubscribed financing from leading early-stage medical technology investors including Synergy Ventures, Life Science Angels and AlwaysraiseVC.
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Capital raised contributes to SavageMed’s ongoing clinical trial of its groundbreaking ColoSealTM System. SavageMed’s ColoSealTM has been successfully tested in human clinical trials with positive results.
Ankit Sarin, M.D., M.H.A., Chief, Division of Colorectal Surgery, Vice Chair of Robotics & New Technologies, Department of Surgery, UC Davis Health said, “Today, surgery for colorectal tumors frequently requires up to 3 surgical procedures to remove the tumor and avoid the side effects of the tumor removal, including the dreaded need for a temporary ostomy bag,” “ColoSeal allows a one-time, minimally invasive procedure after the tumor removal that potentially eliminates the need for the additional surgical procedures and avoids need for an ostomy.”
Kenton Fong, M.D., Chief Executive Officer of Savage Medical, Inc. said, “Every year, there are 1.9 million people diagnosed with colorectal cancer. 35% of these patients have localized tumors which require surgery to remove,” “We are thrilled to close this latest financing to continue advancing the ColoSeal System through clinical trials. Our vision is to replace the multiple surgical procedures and complications that hundreds of thousands of colorectal patients endure each year with a minimally invasive solution.”
About Savage Medical, Inc.
Savage Medical, Inc (“SavageMed”) is a clinical-stage, San Francisco Bay Area-based medical technology company founded by former Spiracur (now 3M Science) executives developing the ColoSealTM System to enable minimally invasive colorectal tumor removal.
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SavageMed has been selected as a UCSF Rosenman Innovator company, a MedTech Innovator company, and has been the recipient of both U.S. National Cancer Institute (NCI) and U.S.
