CraniUS Closes ~$20 Million Series A Funding Round
CraniUS LLC, an R&D company focused on building groundbreaking treatments for patients with chronic brain disease, today announced the closing of a $19.4 million Series A fundraising round.
The Series A round, funded entirely by private investors, will drive the development of CraniUS’ flagship device as it moves towards FDA approval for a first-in-human clinical study. The forthcoming phase will build off successful pre-clinical studies in which the device will validate safety and efficacy in delivering medicine directly to the brain, bypassing the blood-brain barrier.
CraniUS (https://www.craniusmed.com/) is led by CEO Michael Maglin, a veteran Fortune 1000 executive who spent the last decade at Under Armour. His extensive leadership experience includes implantable technology development, which he now leverages in spearheading CraniUS’ research and development efforts.
“CraniUS’ device has been built from the ground up over the last 5+ years specifically focused on long-term medicine delivery directly to the brain,” according to Maglin. “This investment round will enable our team to continue its mission to invent, engineer, and manufacture our device towards FDA approval for a first-in-human clinical study.”