German nuclear medicine contrast firm OctreoPharm Sciences has completed financing for the clinical development of its SOMscan PET cancer diagnostic agent.
With approximately 5 million euros ($7.25 million U.S.) from three venture capital sources, the company plans to begin clinical trials in the next two years. If the results are successful, OctreoPharm anticipates European approval of the radiopharmaceutical in 2014.
SOMscan, which uses the radioisotope gallium-68, is designed for the detection and treatment control of neuroendocrine tumors.
