Cianna Medical Business Deal was a fund raising activity which was announced on June 28, 2008. Investors contributed money for improved devices meant for treating breast cancer. Cianna Medical is a “spinoff” of BioLucent Inc.
Ciana Medical is responsible for manufacturing, as well as selling, devices required for the treatment of breast cancer detected at an early stage. The Cianna Medical business deal engages in fundraising activities for the improvement and greater effectiveness of its products.
The company raised $9 million in the first round of fundraising. There were several other investors who took part for similar objectives. They are Windamere Venture Partners, Fog City Fund, and other private investors.
Utilization of Proceeds from Cianna Medical Business Deal
Cianna Medicals’ Savitm Applicator is a unique device for the treatment of breast cancer. It has gained acceptance by many medical professionals such as surgeons and oncologists.
The Savitm Applicator prevents damage of healthy tissue surrounded the affected area. It also decreases the duration for which therapy high dose radiation is administered to the patients. The treatment duration is decreased from one or one and a half months to 5 days.
The fund raising of the Cianna Medical Business Deal was mainly carried out for the enhancement of this product, the Savitm Applicator.