Advanced NanoTherapies, Inc., a Los Gatos, Calif.-based medical device company committed to exploring nanotechnology for enhanced drug uptake and sustained retention, raised the final tranche of its seed-round financing for a total of $5.3m.
Funding came from a variety of angel investment sources in the US, Canada, Europe, Asia, and the Middle East, including venture funding from Cleveland Clinic and ForMed Ventures of Taiwan.
Co-founded by Marwan Berrada-Sounni, and Dr. Mehdi Shishehbor, President, Harrington Heart and Vascular Institute University Hospitals, Cleveland, Chief Medical Officer, Advanced NanoTherapies, is a medical device company that is developing a nanoparticle technology-based platform for drug delivery. The company is currently focused on cardiovascular and endovascular applications to bring a safer therapeutic option to patients with PAD using Sirolimus-coated angioplasty balloons.
The company will be working closely with the FDA to achieve an early feasibility study and introduce its technology to human populations.
The inventor of the platform is Vinod Labhasetwar, PhD., Professor and Endowed Chair of Nanomedicine, Department of Biomedical Engineering at Cleveland Clinic Lerner Research Institute.