Advanced Chemotherapy Technologies, Inc., a Raleigh, N.C.-based clinical-stage drug delivery company, closed a $5.5m Series A funding round.
The round was led by Khosla Ventures.
The company intends to use the funds for initial clinical development of its ACT-IOP-003 local chemotherapy system for the treatment of locally advanced non-resectable and borderline resectable pancreatic cancer.
Led by Tony Voiers, CEO, Advanced Chemotherapy Technologies is a 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. Its 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.