Nanology Labs Secures $3 Million In Oversubscribed Seed Round
05/17/21, 10:09 AM
Location
Money raised
$3 million
Round Type
seed
Nanology Labs, an IND-stage company developing next generation nanomedicines to conquer cancer, announced today that its seed capital raise was oversubscribed at $3M. The round was led by FACIT with co-investors Creative Destruction Lab Angels, Ontario Brain Institute, Ontario Center of Innovation, and MEDTEQ. The capital will advance development of T-MX (aka Manganescan), a smart nanomedicine designed to overcome tumor hypoxia, a common cause of resistance in cancer treatment. The financing is timely as T-MX completes GLP-toxicology and GMP-manufacturing in readiness for a Ph1/2 study in patients with oligometastatic brain cancer, planned to start at the Princess Margaret Cancer Center, recognized internationally for expertise in tumor hypoxia.
Company Info
Location
toronto, ontario, canada
Additional Info
Nanology Labs is leveraging a patented polymer-lipid platform technology to develop unique nanoparticles that are actively transported into cells where they release therapeutic and diagnostic payloads including proteins, nucleic acids, drugs, and imaging agents. Groundbreaking research on T-MX has been reported in leading scientific journals including the Journal of the National Cancer Institute, Cancer Research, Advanced Functional Materials, and ACS Nano.