Embolx said today that it landed a $2 million grant from the National Cancer Institute to fund development of its next-generation Sniper balloon occlusion microcatheter.
The Sunnyvale, Calif.-based medical device company has developed a drug-delivery system that administers therapies into targeted areas of the body by controlling pressure. Embolx’s Sniper balloon is designed to treat cancerous tumors, benign prostatic hyperplasia and uterine fibroids, according to the company.
“We are excited for the opportunity to further our unique technology and advance minimally invasive cancer and BPH therapy,” president & CEO Michael Allen said in prepared remarks. “This NIH grant, and recently completed $5.5 million Series B financing, will accelerate our efforts to develop high performing medical devices that support better patient outcomes.”
Co-investigator for the Small Business Innovation Research grant is Dr. Sanjay Gupta, the interim chair of the department of interventional radiology at the University of Texas MD Anderson Cancer Center.
Embolx is working to develop an advanced version of the Sniper microcatheter that enables interventional radiologists to monitor pressure in the area surrounding a tumor, track embolization progress in real-time and achieve a quantitative embolization endpoint, the company reported today.