SakuraBead is anticipated to be commercially out there by the tip of the yr.
Galway medical gadget producer CrannMed has certified for a €12.5m accelerator grant from the European Innovation Council to develop a persistent inflammatory ache remedy.
‘SakuraBead’ is a “resorbable microsphere” that’s delivered to the positioning of ache on the physique by medical professionals. As soon as in place, the gadget works by stopping blood circulation to the infected web site for a brief interval to reset the inflammatory course of.
The gadget is at present being evaluated in a global randomised management trial to speed up industrial approval within the US and EU markets. Business gross sales are anticipated to start by the tip of the yr.
The EIC accelerator is a funding programme below Horizon Europe developed to assist SMEs with modern and commercially disruptive merchandise, companies or enterprise fashions. It gears its helps to comparatively newer, much less confirmed SMEs, in search of substantial funding.
CrannMed will use the primary section of the funding, price €2.5m, to develop the know-how behind its ache reduction remedy. The second section, with €10m, will assist commercialisation of the tech inside Europe and the US.
Enterprise Eire helps Irish deep tech enterprises to compete in varied EIC funding programmes.
“CrannMed is making nice developments within the essential space of non-invasive remedy for Knee Osteoarthritis which impacts hundreds of thousands of individuals globally,” mentioned Minister for Enterprise, Tourism and Employment Peter Burke TD.
“The latest assist from the European Innovation Council underscores CrannMed’s modern microsphere know-how which has been proven to alleviate ache and restore mobility for sufferers.”
Liam Farrissey, the CEO of CrannMed added: “This award from the European Innovation Council, together with ongoing assist from Enterprise Eire, will allow us to increase our know-how to deal with a broader vary of persistent musculoskeletal ache circumstances and in the end extra sufferers.
“Particularly, hand osteoarthritis and plantar fasciitis have been highlighted as two areas of nice affected person want. Constructing on profitable pilot research in these anatomies, we are going to use the funding to assist the technical, scientific and regulatory work wanted to deal with these sufferers with SakuraBead.”
CrannMed additionally acquired funding below the Disruptive Applied sciences Innovation Fund programme for a joint health-tech mission co-led by the College of Galway, the Royal School of Surgeons in Eire and Salaso Well being Options.
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