Radiation oncology firm Sirtex Medical reported that it has completed an investment in nanomedicine technology developer Nanospectra Biosciences.
Made as part of Nanospectra's series B-1 round of financing, the investment supports the further development of AuroLase, Nanospectra's lead product for prostate cancer tissue ablation. Sirtex received preferred shares in the initial closing of the financing round.
What's more, Sirtex will have the right to appoint a member of the board of directors and have an exclusive right to negotiate for access to AuroLase in certain geographies outside the U.S. for a defined period of time, according to the vendor.
