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Advanced Chemotherapy Technologies, Inc. Announces $2.5M Series A Investment by Spectrum Financial

Feb 11, 2021•almost 5 years ago

Amount Raised

$2 Million

Round Type

series a

Raleigh

Description

Advanced Chemotherapy Technologies, Inc., a clinical-stage drug delivery company, announced today that it has closed a Series A investment of $2.5 million with Spectrum Financial. This investment is in addition to the previously announced Series A investment of $5.5 million lead by Khosla Venture. The capital will be used to fund initial clinical development of the company’s ACT-IOP-003 local chemotherapy system for the treatment of locally advanced non-resectable and borderline resectable pancreatic cancer.

Company Information

Company

Advanced Chemotherapy Technologies

Location

Raleigh, North Carolina, United States

About

Advanced Chemotherapy Technologies, Inc. is a privately owned, clinical-stage company developing novel approaches to local drug delivery. Its lead product is the first-in-class to combine iontophoresis drug delivery with an implantable delivery system to target drug delivery with laser-like precision. Advanced Chemotherapy Technologies drug delivery technology was first developed at and licensed from the University of North Carolina at Chapel Hill in conjunction with UNC Lineberger Comprehensive Cancer Center.