Targeted drug delivery platform company Phoenix Solutions AS completes its Series A financing

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The Board of Directors of Phoenix Solutions is pleased to announce that the company has completed a series A financing led by a small group of healthcare angel investors. CEO Per Sontum, -We are very pleased to announce this first round of financing. This funding will give us the ability to reach a key developmental milestone for our preclinical work in pancreatic cancer.

Phoenix Solutions is a Norwegian bio-tech company sprung out from GE Healthcare in 2013, currently developing a technology platform for targeted drug delivery – Acoustic Cluster Therapy (ACT®). ACT® is a unique approach to ultrasound mediated, targeted drug delivery – capable of enhancing significantly the clinical utility of a wide range of therapeutic molecules and nano-drugs for a wide range of clinical indications. Its primary mode of action is in defeating the vascular barrier, enhancing extravasation, distribution and uptake of drug in the targeted tissue, thereby increasing efficacy and/or reducing toxicity. ACT® is generally indicated towards diseases where current clinical practice treats known, localized pathologies (e.g. solid tumours) with medicinal therapy, and where Standard of Care is being limited from an inability to deliver sufficiently high concentrations of drug to the tumour without excessive systemic toxicity. Phoenix is currently targeting the oncology segment, looking in particular at pancreatic, liver, triple negative breast and prostate cancers, and have had extremely promising preclinical results so far.

 

For further information, please contact: Per Christian Sontum, CEO of Phoenix Solutions AS

E-mail: Per.Sontum@phoenixsolutions.no

Mobile: +47 47261042