Prostate Cancer Startup CivaTech Oncology Reaches Funding Goal
RESEARCH TRIANGLE PARK, N.C. (Business Wire EON) April 29, 2008 --
CivaTech Oncology, Inc., an early stage company developing a novel
medical device for the treatment of prostate cancer, has raised
$1,000,000 in a Series B private financing round. The Company was
founded in 2006 by Robert and Claudia Black (two of the founders of
Sicel Technologies) and Suzanne Babcock (former VP of Troxler
Electronics) and is headquartered in the Park Research Center in RTP.
The product focus is on low-dose-rate brachytherapy, a type of radiation
treatment for cancer utilizing implanted radioactive sources to kill
tumor cells. At present, this type of brachytherapy is used
predominantly for prostate cancer and makes use of so-called “seeds,”
which are implanted in a minimally invasive surgical procedure. Civatech
Oncology’s new device is more akin to a “radioactive
string” that will replace the individual seeds
and should provide more uniform and consistent radiation delivery to
patients. Brachytherapy has been shown to be as effective as surgery and
external beam radiation therapy in studies of long-term patient survival.
The Company is in the final stages of collecting the data needed to
submit a 510(k) application to the FDA for its first product.
Concurrently, the Company is focusing on fine-tuning the production
method. The Company has established strong proprietary protection with
an issued U.S. patent and pending applications based on recent work.
The goal of the Company is to provide a better product for the patient
and the clinician while at the same time reduce the time and cost of
manufacturing. “We believe our product will
become the gold standard,” states Dr. Black,
President of CivaTech Oncology. “Our approach
will allow clinicians to provide a customized radiation source, which
will help to ensure optimized patient treatment.”
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