Friday, May 18, 2018

OncoNano Medicine Finds $11.7M

Southlake, Texas-based OncoNano Medicine, which is developing compounds being used to treat cancer, has raised $11.7M in a Series A funding round. The funding was arranged by Salem Partners. OncoNano's first program is an injectable imaging agent that targets the acidic pH within tumors to accurately distinguish cancer cells from healthy tissue during surgery. The company's technology and compounds were invented at the University of Texas Southwestern Medical Center. Accoding to OncoNano, as part of the funding it is naming a new board of directors to the company, which includes Al Guillem, Ph.D. (Former President of ZS Pharma); Ravi Srinivasan, Ph.D. (Founder and CEO of OncoNano Medicine); John Dyett (Founder and Managing Director of Salem Partners); Paritosh Dhawale, Ph.D. (General Manager of Contrast Media at GE Healthcare); and Joydeep Goswami, Ph.D. (President, Clinical NGS and Oncology at Thermo Fisher Scientific). OncoNano is part of the TechFW incubator. More information »