RESEARCH TRIANGLE PARK, NC – A N.C. Biotechnology Center-fueled company is raking in more equity and getting ready to start early studies for its new prostate cancer device.
Medical device firm CivaTech Oncology has nabbed $400,000 in equity, with more than $600,000 to go in the round.
“We’re having a very good response,” says CEO Suzanne Babcock.
Babcock says that, along with supplementing National Institutes of Health grants to develop a lung cancer radiation shielding device called the “CivaSheet,” the money will go toward adding up to two people to the nine-person head count.
CivaSheet, she adds, is “ahead of schedule.”
Next on the agenda is getting the “CivaString,” an approved device that helps surgeons target radiation to breast and prostate tumors, into the operating room.
“Our first studies are about to get under way,” says Babcock, adding that those studies will be in prostate cancer.
And it might not have been possible, she says, without early seed financing from the North Carolina Biotechnology Center – financing that could be axed due to budget cuts.