CivaTech Oncology, an early-stage Research Triangle Park company developing implantable low-dose radiation therapy "strings" to treat prostate cancer, has raised $1 million in a Series B round of private financing.
The company, founded in 2006 by Dr. Robert Black, president, and by Claudia Black and Suzanne Babcock, had previously raised $800,000 in an oversubscribed round of private financing.
CivaTech Oncology is preparing its first product-approval application to the U.S. Food and Drug Administration while fine-tuning the patented device's production method.
"We believe our product will become the gold standard," said Robert. Black. "Our approach will allow clinicians to provide a customized radiation source, which will help to ensure optimized patient treatment."