Ferronova Raises A$11M in Funding


Ferronova, an Adelaide, Australia-based medical technology company, raised A$11M in funding.

Irish company Renew Pharmaceuticals Limited led an A$8M capital raise, with a further A$3M secured via an Australian Government Co-operative Research Centers Project (CRC-P) grant.* Existing shareholders, led by Uniseed with Artesian Venture Partners also participated. The latest round of funding builds on seed capital and Series A funding of $4.6M.

The company intends to use the funds to expand its trial program to brain and gastric-esophageal cancers.

Led by CEO Stewart Bartlett, Ferronova is a medical technology company whose nanoparticle platform aims to assist surgeons to more accurately locate and remove malignant cells during treatment of gastrointestinal and brain tumors.