Nanospectra Biosciences Raises $1.3 Million In Quest To Develop Novel Cancer TreatmentNanospectra Biosciences Raises $1.3 Million In Quest To Develop Novel Cancer Treatment

Nanospectra Biosciences, which has stumbled in commercializing a novel cancer therapy, has an interim CEO and has raised capital to renew efforts to complete clinical trials.

June 4, 2013

2 Min Read
Nanospectra Biosciences Raises $1.3 Million In Quest To Develop Novel Cancer Treatment

With a new interim CEO on board, Nanospectra Biosciences has recently closed a $1.3 million funding round with the goal of completing a pilot trial to test its novel cancer therapy using a combination of particle therapy and laser ablation.

In the next 30 to 60 days, the company hopes to raise additional capital from angels to close the round at around $2 million, said David Jorden, the interim CEO, in a phone interview. Including the $1.3 million initial closing, the Houston company has raised $16 million, half of which comes from grants, Jorden said.

Founded in 2002, the company has been beset by funding and liquidity challenges, he acknowledged. That led the board to select Jorden to lead the company over the past weekend. A current investor in the company, he replaces John Stroh, who was named CEO in 2011.  

So how exactly does the company's AuroLase therapy, exclusively licensed from Rice University work?

First, the AuroLase particle - comprising gold metal shell and a non-conducting silica core able to absorb near infrared laser energy are infused into the patient's blood stream intravenously such that the particle or "nanoshells" enter the solid tumor and accumulate in it, but not the surrounding tissue. Then a laser fiber is inserted through the skin into the tumor or near it and laser energy is applied. The AuroLase particle absorb that energy and convert it to heat, which ultimately destroys the cancerous tissue leading the tumor to shrink.

Nanospectra Biosciences began the first human trial to test the therapy in 2008, an event marked by a detailed article in the Houston Chronicle that talked about the potential for this new technology. That trial of head and neck cancer patients has never been completely enrolled.

Nine of the 15 patients have undergone the therapy, Jorden said. The new capital will help to complete the trial in the next few quarters, Jorden said.

Here's a video of how the AuroLase therapy is expected to work:

-- By Arundhati Parmar, Senior Editor, MD+DI

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