Biopheresis Technologies, a Cary-based firm focused on development of a cancer treatment system, has closed on some $8 million in financing through two European investors.
Taking part in the Series A round were Scandinavian Life Science Venture out of Stockholm, Sweden, and First Ventury of Heidelberg, Germany.
The funds will be used for further clinical trials of a medical device Biopheresis says it has developed that can “remove specific immune inhibitors from the blood of cancer patients.”
The company said it hopes to launch a breast cancer treatment trial in Europe this fall. Biopheresis added that it is also in discussions with the US Food and Drug Administration regarding research and approval.
“This investment in Biopheresis by SLS and First Ventury, who are leading investors in new medical technologies, further validates the company’s technology and our approach to the treatment of cancers,” said Santo Costa, chairman of Biopheresis. “These two exceptional investment partners have already made important contributions to the Company’s development, and with their funding we now will be able to accelerate the development of this new cancer treatment system.”
Biopheresis, which maintains European headquarters in Heidelberg, owns several patents based on what it calls its “immunological therapeutic approach” to fighting cancer.
“(S)pecific inhibitors in the blood produced by cancer cells retard or prevent an otherwise normal immune system from recognizing and destroying tumor cells,” the company explained in a statement. “These inhibitors have been shown to be soluble Tumor Necrosis Factor receptors (TNFRs) and to be overproduced in cancer patients. The Biopheresis technology removes these inhibiting sTNFRs, to allow the body’s own TNF mediated immune response to attack and destroy tumors.”
George Rehm, managing partner of First Ventury, described Biopheresis’ approach as “a fundamental new approach to the treatment of cancer, and we believe this approach will provide a major improvement in cancer therapy.”
Biopheresis: (web site under construction) www.biopheresistech.com/