Cordance Medical announced that it raised more than $8 million in an oversubscribed seed financing round.
Sonder Capital led the round, which included participation from existing and new investors. Shanda Grab Ventures, Angel Physician’s Fund, SmartGateVC and R42 participated in the round. The Sontag Foundation Innovation Fund, a subsidiary of The Sontag Foundation, and the Brain Tumor Investment Fund, a venture subsidiary of the National Brain Tumor Society, also joined.
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Mountain View, California-based Cordance plans to use funds to support a first-in-human trial of its focused ultrasound system. The company designed it to safely and temporarily open the blood-brain barrier (BBB). This capability could unlock new treatment options for brain cancer and other neurological conditions. It would enable therapeutic agents to reach the brain more effectively.
With its platform, Cordance could offer a competitor to France-based Carthera and its SonoCloud system. SonoCloud aims to treat a wide range of brain disorders. The device emits ultrasound to temporarily increase the permeability of blood vessels in the brain, improving therapeutic molecule delivery.
Cordance designed its platform for scalable outpatient adoption. The company says it doesn’t require patient head fixation or live imaging during treatment. It already has FDA breakthrough device designation in neuro-oncology.
“Our team is thrilled to announce this financing round and is grateful to all our investors for their confidence in our mission,” said Bhaskar Ramamurthy, co-founder and CEO of Cordance Medical. “Alongside our academic collaborators and industry partners, this strong syndicate backing reflects the urgent need for precision therapies in neurology, where patients face extremely limited treatment options. Combined with NIH support for our first-in-human trial, this funding accelerates our path to delivering transformative care.”
