Baltimore, MD is continuing to emerge as one of the next great cities for medtech and medical device innovation. That’s just one of the reasons that Maryland was selected to host MedTech Innovator (MTI) and BioTools Innovator (BTI) for their East Coast pitch events on March 28-31, 2023. MTI and BTI are the largest and highest-performing global pitch competitions and accelerator programs for the life sciences field. Companies can apply before January 31st.
CraniUS Appoints World Leading Neurosurgeon to Join Board of Directors
Dr. Henry Brem joins CraniUS Board of Directors in further enhancing its mission to facilitate chronic and direct medicine delivery for treating brain disease.
Baltimore company raises $19.4M to change the treatment of brain diseases Email Facebook LinkedIn Twitter Share article
Deborah Weidman is a co-founder of CraniUS, which recently raised $19.4 million.
Courtesy of Deborah Weidman
By Matt Hooke – Reporter
October 03, 2022, 08:10am EDT
A Baltimore medical device firm that aims to improve the treatment of brain diseases has raised $19.4 million, one of the larger funding rounds in the region so far this year.
Hampden-based CraniUS’ series A funding round was led entirely by private investors, such as family offices, with no participation from venture capital firms.
The $19.4 million will give the 17-person team the funds necessary to workshop and develop prototypes, as the company hopes to start in-person trials in 2024.
The round had 21 investors, U.S. Securities and Exchange Commission filings show. CEO Michael Maglin said the company did not pursue venture capital because it already had several board members in mind for the company and did not want to give up a large amount of equity in its first capital raise. The round closed at the end of April and began in Sept. 2021.
CraniUS is developing an implantable device that delivers medicine straight into the…
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.