CranioVation Inc., a health care company that has developed a device to treat brain tumors using a minimally invasive device, has raised $225,000 from two investors, according to a filing with the Securities and Exchange Commission.
The Durham-based company hopes that its minimally invasive device will become the alternative to the typically long and complex surgery normally called for with malignant brain tumors.
CranioVation’s device will treat patients in a matter of minutes while the patient is awake and comfortable, causing a shift in the way patients with brain tumors are treated.
The company was established in 2017.
Chief Executive Officer Vijay Agarwal, M.D., graduated from neurosurgical residency at Duke University Hospital in 2016 and is currently an assistant professor at the Mayo Clinic in Rochester, Minnesota, and has helped launch multiple medical device companies.
Agarwal has been an integral part of the success of these devices in all stages, from concept and design to testing, U.S. Food and Drug Administration approval, and human trials.
More information about CranioVation can be found here.
Private companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but must file a Form D electronically with the SEC after they sell their securities.