Surefire Medical gets $15M after FDA nod for targeted cancer drug delivery device

Surefire Medical's Precision liver cancer drug delivery device--Courtesy of Surefire

Surefire Medical has raised a $15 million series C round to back a global launch of its liver cancer drug delivery device. The FDA cleared the Surefire Precision earlier this year to conduct minimally invasive chemoembolization and radioembolization procedures.

The idea is to use this expandable-tip microcatheter to deliver cancer drugs directly to the tumor, thereby improving drug uptake and helping to protect healthy tissue. In a primary liver cancer study, the Surefire Precision was found to improve drug particle uptake by an average from 68% and up to 90% better than conventional end-hole catheters.

"We are launching our innovative and new Precision technology to physicians worldwide for treatment of primary liver cancers," said Surefire President and CEO James Chomas in a statement. "The growing body of clinical evidence suggests that increasing the amount of therapeutic agents delivered into the tumor may improve patient response and overall survival. With the Surefire technology, more of the dose reaches the tumor while sparing healthy tissue."

Incidence of liver cancer, the third most common cause of cancer deaths, continues to rise due to metastasis and increases in hepatitis B and C infections. About 80% of the more than 700,000 liver cancers diagnosed annually worldwide are considered inoperable and require alternative treatment.

The Westminster, CO-based company's latest financing was led by Tullis Health Investors with participation from KMG Capital Partners, Partisan Management Group, MCG Partners, High Country Ventures and undisclosed angel investors

"Tullis looks forward to working with Surefire Medical on domestic and international commercial expansion, in particular the opportunity for Surefire in China," said John Tullis, Partner at Tullis Health Investors. "With more than 50% of global primary liver cancer cases occurring in China, the launch of the Precision is positioning Surefire to drive adoption by physicians performing embolization procedures, and may also help to decrease overall treatment costs."

- here is the announcement