Galway medtech CrannMed prepares for commercial rollout of resorbable microsphere therapy targeting chronic inflammatory pain.
CrannMed, the Galway medical device company developing a new treatment for chronic inflammatory pain, has been approved for up to €12.5m in blended financing from the European Innovation Council Accelerator.
The award combines a €2.5mn grant with a potential €10m equity investment and forms part of Horizon Europe’s flagship support programme for deep‑tech SMEs.
“Hand osteoarthritis and plantar fasciitis have been highlighted as two areas of great patient need”
The company has created SakuraBead, a resorbable embolic microsphere designed to relieve pain caused by conditions such as osteoarthritis, tendinopathies and enthesopathies.
Delivered by an interventional radiologist using image guidance, SakuraBead temporarily blocks blood flow to inflamed tissue. CrannMed says this interruption is long enough to reset the inflammatory process but short enough to avoid harming healthy tissue.
Going global
SakuraBead is now being assessed in an international randomised clinical trial ahead of planned regulatory submissions in both the EU and US. The company expects first commercial sales before the end of 2026.
The initial phase of the EIC investment will finance development work to expand the therapy to additional anatomical sites affected by chronic musculoskeletal pain. Management said the second phase would support commercialisation in Europe and the United States.
Peter Burke, Ireland’s Minister for Enterprise, Tourism and Employment, said the support from the EIC highlighted the importance of non‑invasive options for knee osteoarthritis, a condition affecting millions worldwide.
He said CrannMed’s technology “has been shown to alleviate pain and restore mobility for patients” and described the funding as “a testament to the innovation and dedication of the CrannMed team”.
Liam Farrissey, CrannMed’s chief executive, said the backing from the EIC and Enterprise Ireland would accelerate expansion into areas of significant unmet need.
“Hand osteoarthritis and plantar fasciitis have been highlighted as two areas of great patient need,” he said. “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 Ireland’s National Support Network for Horizon Europe and provides advisory assistance to companies bidding for the highly competitive
Accelerator scheme. Joe Healy, its head of research and innovation, described CrannMed as “a cutting‑edge medical device company, transforming resorbable embolization for the benefit of patients worldwide”.
He said the award reflects both CrannMed’s potential and the capacity of Irish companies “to compete on a global level.”
The EIC Accelerator backs high‑risk start‑ups and scale‑ups that are close to commercialising disruptive technologies capable of creating new markets.
Top image: Joe Healy, Head of Research & Innovation, Enterprise Ireland; Enterprise Minister Peter Burke, TD; Joan McCabe, COO, CrannMed; and Liam Farrissey, CEO, CrannMed
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