$3M for Minimally Invasive Colorectal Tumor Removal

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Savage Medical, a 2023 Rosenman Innovator, raised $3M for its minimally invasive solution that aims to eliminate surgeries and complications for hundreds of thousands of colorectal patients each year.
Through the Rosenman Innovators program, the Savage Medical team was introduced to AlwaysRaise, a key mentor and investor in their recent financing round that launched the company out of stealth mode. “The guidance provided by Rosenman mentors and introductions to investors and service providers have proven invaluable to our progress,” shared Dean Hu, COO and co-founder of Savage Medical.
Savage Medical’s minimally invasive colorectal tumor removal system, ColoSeal™, aims to eliminate additional surgical procedures currently used to remove colorectal tumors and avoid the need for an ostomy altogether. Clinical trials of ColoSeal™, which has been successfully tested in human clinical trials, are ongoing with the boost from their early-stage medtech investors.
From the press release:

SAN FRANCISCO, Nov. 28, 2023 /PRNewswire/ — Savage Medical, Inc. (“SavageMed”, “Company”, “We”, or “Us”), a San Francisco Bay Area-based, clinical-stage medical technology company enabling minimally invasive colorectal tumor removal, today announced a launch out of stealth with over $3 million in total funding, including oversubscribed financing from leading early-stage medical technology investors including Synergy Ventures, Life Science Angels and AlwaysraiseVC. Capital raised contributes to SavageMed’s ongoing clinical trial of its groundbreaking ColoSeal™ System. SavageMed’s ColoSeal™ has been successfully tested in human clinical trials with positive results.

“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,” said Ankit Sarin, M.D., M.H.A., Chief, Division of Colorectal Surgery, Vice Chair of Robotics & New Technologies, Department of Surgery, UC Davis Health. “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.”

“Every year, there are 1.9 million people diagnosed with colorectal cancer. 35% of these patients have localized tumors which require surgery to remove,” said Kenton Fong, M.D., Chief Executive Officer of Savage Medical, Inc. “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.”