Medical device manufacturer Combat Medical has raised £2.6m in the first close of its Series A funding round.
Combat Medical develops devices to optimise the delivery of cancer therapeutics and is currently working on a hyperthermic intravesical chemotherapy treatment, called HIVEC.
With the new funding, the company plans to advance HIVEC through phase three clinical trials with the goal of securing FDA registration.
“Our installed base of over 350 systems and the completion of over 100,000 HIVEC treatments to date demonstrates efficacy and use as a safe and well-tolerated, bladder-sparing alternative to radical cystectomy in BCG-unresponsive, high-risk NMIBC,” said the company’s chief executive, Edward Bruce-White.
“Setting a new standard for patient care, it also provides clinicians and payers with advanced, affordable options that can easily be built into current treatment pathways. We are proud to have our investors on board as we progress through to FDA approval.”
The funding round was led by T&J Meyer Family Foundation and included investment from Varia Ventures, NW Angel Fund and angels.
“Combat Medical is leading the development and clinical use of device assisted therapies with potential to disrupt current treatment standards,” said Balint Nemeth from T&J Meyer Family Foundation.
“With systems in wide clinical use and already impacting patient outcomes, we are excited to support the company as HIVEC progresses through clinical trials.”