Biotech Firm Raises $20M For Technology Providing Road Map For Tumor Detection
The imaging agent guides surgeons in locating malignant tissue.
San Diego Union-Times:
Avelas Biosciences Raises $20 Million For Cancer Detecting Agent
Avelas Biosciences has raised $20 million to advance clinical trials of an imaging agent to assist in breast cancer surgery, the privately held San Diego biotech said Wednesday. Proceeds will also help develop cancer drugs based on the technology, from Nobel laureate and UC San Diego professor Roger Y. Tsien. The technology causes cancer cells to betray their location under fluorescence, said Carmine Stengone, Avelas president and CEO. The drug, called AVB-620, consists of protein fragments called peptides linked to a fluorescent molecule. The compound is inactive until it is cleaved by enzymes mainly present in metastatic cancer cells. AVB-620 is now in a Phase 1b trial at UC San Diego Moores Cancer Center, UC San Francisco and Stanford University. More information can be found by searching clinicaltrials.gov for "Avelas." (Filkes, 8/17)