Durham-based CivaTech Oncology Inc., a company designing innovative low dose rate internal radiation products that combat cancer, has raised $15,000 of a $2 million debt offering, according to a regulatory filing.
The company has raised close to $10 million in equity and debt financing, including National Institute of Health grants and North Carolina Biotechnology Center funding since 2008. It raised $916,000 in equity in October.
It began a two-year study of using its CivaSheet device to treat pancreatic cancer. The NIH SBIR Fast Track program awarded a grant to fund the first phase.
It tracked the safety and efficacy benefits of CivaTech’s new, highly targeted radiation treatment device called CivaSheet for patients with pancreatic cancer. CivaSheet is a flexible, low-dose rate implantable intra-operative brachythereapy device) (brachytherapy involves putting radioactive materials inside the body, usually to treat cancer.).
The CivaSheet is implanted in a 15-minute procedure at the end of a surgical resections. It allows physicians to delivery aggressive radiation doses immediately adjacent to healthy tissue because it is active only on one side. Most of the CivaSheet is naturally absorbed by the body and no follow-up procedure is necessary to remove the device.
The company disclosed its latest debt raise in a filing with the US Securities and Exchange Commission.
