Sanovas Inc., a life science holding company that is accelerating the development and commercialization of next-generation micro-invasive diagnostics, devices and drug delivery technologies, through its spin-off companies, raised over $30m.
The company intends to use the capital to fund its operations, 2/3 of which has come from a pioneering funding model conceived by CEO Larry Gerrans. The model, which uses investment proceeds derived from Self Directed Individual Retirement Accounts to fund the businesses from start up through commercialization, has allowed Sanovas to originate over 100 multi-national patents and develop its portfolio of technologies as well as to diversify its assets across a number of companies it is spinning out. One of which highlights a Joint Venture with Mayo Clinic and another is being conducted with Physicians affiliated with Harvard Medical School.
At the heart of the Sanovas companies’ scientific advances is the miniaturization of tools for minimally invasive surgery. It expects to commercialize the technology in coordination with its various partners to address unmet clinical needs in Oncology, Pulmonology, Cardiology, Neurosurgery, ENT, GI, General Surgery, Urology and Gynecology.