September 8, 2020
Sirtex Medical Makes a Strategic Investment in Nanospectra Biosciences
September 8, 2020––Sirtex Medical, the global health care company focused on targeted therapies to treat liver cancer, announced a lead and strategic investment in Nanospectra Biosciences, Inc., which is developing nanomedicine for selective thermal ablation.
Sirtex made a significant equity investment by Sirtex in exchange for preferred shares in Nanospectra in the initial closing of an ongoing Series B-1 round. In the collaboration, Sirtex will appoint a member to the Nanospectra Board of Directors and have an exclusive right to negotiate for access to Nanospectra’s lead product, AuroLase therapy, in certain other markets outside the United States for a defined period of time.
According to Sirtex, the investment provides resources for the further development of AuroLase for prostate cancer tissue ablation. The product is an ultra-focal ablation therapy designed to maximize treatment efficacy while minimizing side effects typically associated with surgery, radiation, and alternative focal therapies. The therapy uses the company’s AuroShells nanoparticle technology to thermally destroy solid cancer tumors, while minimizing the damage to adjacent healthy tissue.
Nanospectra is currently conducting a pivotal open-label, multicenter, single-treatment study of AuroLase therapy for the focal ablation of prostate tissue via nanoparticle-directed near-infrared irradiation. The study is approved by the FDA under the original investigational device exemption, advised Sirtex in the announcement.