Sakurabead technology could help chronic pain sufferers worldwide
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Pictured: Joe Healy, Enterprise Ireland; Minister for Enterprise, Tourism and Employment Peter Burke; Joan McCabe and Liam Farrissey, CrannMed
Galway based medical device company CrannMed has been approved for a recommended investment of up to €12.5 million from the Horizon Europe European Innovation Council (EIC) Accelerator.
CrannMed has developed a resorbable embolic microsphere called SakuraBead, which can be used for the treatment of chronic inflammatory pain. Up to 20% of the world’s population will experience this type of pain through conditions such as osteoarthritis, tendinopathies or enthesopathies. SakuraBead is delivered to the site of pain by an interventional radiologist using image guidance. Once in place, it works by transiently stopping blood flow to the site of inflammation. With the Sakurabead resorbable technology, blood flow can be halted long enough to reset the inflammatory process but short enough to ensure no damage to healthy tissue.
Sakurabead is currently being evaluated in an international randomised control trial to support commercial approval in the EU and US markets. First commercial sales are expected as soon as the end of 2026.
The first phase of the investment (€2.5 million) will allow expansion of the technology to treat chronic inflammatory pain in different areas of the body. The second phase of the investment (€10 million) is intended to support commercialisation of the technology within Europe and the US.
Part of the EU’s Horizon Europe 2021-2027 Research and Innovation Programme, the European Innovation Council (EIC) Accelerator Programme is Europe’s flagship innovation programme.
Liam Farrissey, CEO, CrannMed said: “This award from the European Innovation Council, along with ongoing support from Enterprise Ireland, will enable us to expand our technology to treat a broader range of chronic musculoskeletal pain conditions and ultimately more patients.
“Specifically, hand osteoarthritis and plantar fasciitis have been highlighted as two areas of great patient need. Building on successful pilot studies in these anatomies, we will use the funding to support the technical, clinical and regulatory work needed to treat these patients with SakuraBead.”
Enterprise Ireland leads the National Support Network for Horizon Europe which includes supporting Irish deep tech companies to compete and win funding in the highly competitive EIC funding programmes.
The EIC Accelerator Programme provides transformational funding to high-potential, high-risk start-ups, scale ups and SMEs led by a strong, well-balanced leadership team which are already making good progress in commercialising highly differentiated, deep-tech products capable of creating new markets or disrupting existing ones.
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