Combat Medical, a medical device company optimising the delivery and efficacy of cancer therapeutics, has announced the raising of £2.6 million in the first close of a Series A financing to advance its hyperthermic intravesical chemotherapy treatment, HIVEC®, through phase 3 clinical trials and toward FDA registration.
The round was led by T&J Meyer Family Foundation, and included investment from Varia Ventures, NW Angel Fund and non-institutional family offices and individuals.
The funding will be used to further fund the ongoing pivotal FDA registration trial, HIVEC HEAT, to investigate the effectiveness of the company’s HIVEC treatment of BCG unresponsive non-muscle-invasive bladder cancer (NMIBC).
The primary objective is to generate phase 3 clinical data to evidence Combat’s patented HIVEC treatment as an effective, safe and tolerable alternative to the current standard of care, which is radical cystectomy.
Combat will use future financings to complete FDA registration, growing operations to scale, expanding its existing clinical programmes for advanced bladder cancer (HIVEC) and peritoneal cancer (HIPEC), with a focus on US market entry.
Edward Bruce-White, Chief Executive Officer of Combat Medical, commented: ‘Our installed base of over 350 systems and the completion of over 100,000 HIVECtreatments to date demonstrates efficacy and use as a safe and well-tolerated, bladder-sparing alternative to radical cystectomy in BCG-unresponsive, high-risk NMIBC.
‘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.’
