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SRI International Launches Ancora Medical Technology, a Medical Device Company to Address Critical Needs in Pain Management
MENLO PARK, Calif.— August, 24 2017 – SRI International today announced the launch of Ancora Medical Technology, its latest spin-off venture. Ancora’s initial product will be a new type of catheter to administer long lasting post-operative anesthetic. The patented technology is designed to improve the reliability of operative nerve block administration by anesthesiologists, which may help reduce the need for opioid-based post-operative pain relief. Physicians and engineers at Stanford University and SRI International collaborated to invent the improved catheter.
“Today, pain control after surgery is typically managed by opioids or local anesthetics. Extended and continuous pain relief that needs to last for days after a surgery is administered through continuous peripheral nerve catheters that are attached to portable pumps that deliver pain medication,” said
Chunyuan Qiu, M.D., a practicing anesthesiologist and co-founder of Ancora. “The current generation of continuous systems can be expensive and often have reliability issues when providing pain relief. Ancora’s patented technology aims to address those issues.”
Ancora is funded by Corestone Biosciences, a new, China-based medical device corporation founded by investors and experienced medical technology veterans. Given the rapidly aging population in China, and the opportunity to introduce best-practices to a rapidly growing market, Ancora plans to simultaneously release its technology in China and the United States.
"Ancora's technology and products are very attractive to us, and Ancora’s team is a great team,” said Fei (Francis) Cao, co-founder & CEO of Corestone Biosciences. “We feel excited about funding Ancora, based on technology developed by organizations such as Stanford and SRI, and to accelerate the product launch worldwide.”
Ancora’s patented catheter technology was initially developed under a grant to SRI by the U.S. Food and Drug Administration (FDA) to improve medical devices.
“SRI’s mission is to invent products and solutions that change the world,” said Manish Kothari, Ph.D., President of SRI Ventures and also a co-inventor of the catheter device. “Post-operative pain management is one of the most fundamental practices in medicine and Ancora’s systems have the potential to make the world a safer and healthier place.”
Ancora plans to complete all submission requirements and apply for U.S. and Chinese regulatory approval in the coming months.