Date: 2014-09-29
Type of information: Fundraising
Company: Nanovi (Denmark)
Investors: Vækstfonden (Denmark) 3Shape A/S (Denmark)
Amount: €2.7 million
Funding type: fundraising
Planned used: The funds will be used to bring Nanovi\'s BioXmark™ technology to the market. BioXmark™ is a novel injectable liquid tissue marker which improves the accuracy and quality of radiation therapy. BioXmark™ forms a large 3D semi-solid gel and thus produces a high contrast visible with all commonly used high-precision imaging techniques including 2D/3D X-ray imaging (Fluoroscopy, ExacTrac, Cone Beam, and CT), MR and Ultrasound imaging. Due to its high electron density only a small amount of marker is needed. Current markers are mainly used for routine treatment of patients with prostate cancer and there is an unmet medical need for radiotherapy of other cancers such as lung cancer. Since BioXmark™ can be injected through a thin needle the risk for pneumothorax in lung cancer is reduced. BioXmark™ also allows encapsulating chemotherapeutics within the gel. Combining chemo- and radiotherapy within one treatment methodology could prove superior to current stand-alone treatments. With about one million radiotherapy procedures using markers performed worldwide each year and a growing incidence of cancer, Nanovi’s new technology targets a market exceeding € 10 billion. It can easily be implemented in today’s routines and equipment and will be available for commercial use in Europe during the first half of 2015.
Others: * On September 29, 2014, Nanovi, specialized in the development of advanced biomaterials for use in the radiotherapy of cancer, announced it secured €2.7 million from current investors to bring BioXmark™ technology to the market. Nanovi moreover brings two new board members to the company: Flemming Thorup, President and CEO of 3Shape A/S since 2001, who will serve as the Chairman of the Board of Directors, and Gordon McVie, MD, professor and an international authority on the treatment and research of cancer who will serve as a member of the Board of Directors.
Therapeutic area: Cancer - Oncology
