Xoft, a Fremont Ca. developer of a treatment to reduce the recurrence of breast cancer, said it has raised $33.2 million in a fourth round of financing, and plans to treat its first patients.
See statement here.
The company says its Axxent Electronic Brachytherapy System “uses a miniaturized X-ray source that can deliver localized and targeted radiation treatment,” and can be used in pretty much any environment, including unshielded environments.
The company has now raised a total of about $105 million. Xoft’s existing investors participated in the Series D financing, including MPM Capital, Sutter Hill Ventures, Maverick Capital, Frazier Healthcare Ventures, Mosaix Ventures, Cutlass Capital, RiverVest Venture Partners, and Frantz Medical Ventures. The round also included new investors, including Easton Capital, New Science Ventures and Hambrecht & Quist Capital Management. Additionally, John Friedman, founder and managing partner of Easton Capital will join the Xoft Board of Directors.
The treatment has been cleared by the U.S. Food & Drug Administration (FDA) for early stage breast cancer.
(Story originally reported 4/5)