CRAN awards additional funds to Endolumik, Inc

CRAN Event
Published: Jan. 7, 2022 at 11:45 AM EST
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BLUEFIELD, W.Va. (WVVA) - Country Roads Angel Network (CRAN) have awarded additional funds to Endolumik, Inc.

CRAN, the state’s only accredited angel investment network, previously announced in October an initial investment of $175,000 to the Morgantown company.

As of yesterday, January 6, CRAN has awarded an additional $40,000 in new capital.

Mara McFadden, chief executive officer, and Dr. Nova Szoka, inventor, presented at CRAN’s recent annual meeting in Glen Jean. “Some of our investors who had limited knowledge about Endolumik had a chance to meet the leaders of the company and learn about the medical device’s potential,” said Judy Moore, managing director of CRAN. “Those positive interactions led to CRAN’s additional investment.”

“This additional investment from CRAN allows us to complete our Seed round, and move full steam ahead with product development, the FDA approval process, and expanding our IP portfolio,” said McFadden. “Without CRAN taking a big risk on us early, and continuing their support, a small startup like us couldn’t be in this position today.”

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