Oncoinvent, an Oslo, Norway-based developer of cancer therapeutics, raised around $25m in new equity funding.
Backers included Geveran Trading, Canica, CGS Holding, Helene Sundt and Must Invest.
Led by Jan A. Alfheim, CEO, Oncoinvent is developing Radspherin™, a novel alpha-emitting radioactive microsphere designed for treatment of metastatic cancers in body cavities. The radium based therapeutic has shown consistent anticancer activity without any visible signs of product related toxicity in preclinical studies.
The first clinical indication for Radspherin will be treatment of peritoneal carcinomatosis originating from ovarian cancer.