PhotonPharma Secures $2.5 Million in Seed Funding to Advance Clinical Trial for Ovarian Cancer Treatment

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Aug 21, 2024, 13:16 ET

FORT COLLINS, Colo., Aug. 21, 2024 /PRNewswire/ -- PhotonPharma, a cutting-edge biopharmaceutical company based in Fort Collins, Colorado, is pleased to announce the successful closing of a $2.5 million seed financing round. This vital funding will support the Phase I clinical trial of Innocell™, an innovative therapy for the treatment of advanced ovarian cancer. According to the National Cancer Institute (https://seer.cancer.gov/statfacts/html/ovary.html) ovarian cancer will impact 19,680 women in the US with 12,740 deaths in 2024 alone. The average five-year relative survival rate is 50.4% (2014-2020).

In February 2024, PhotonPharma received FDA clearance to initiate clinical development of Innocell™. The Phase I trial, expected to enroll its first patient in Q4 2024, will be a crucial step in evaluating the safety and efficacy of this promising new treatment.

"This funding is a significant milestone for PhotonPharma and marks a pivotal moment in our mission to advance breakthrough therapies for cancer therapies," said Dr. Terry Opgenorth, Chairman of the Board of Directors of PhotonPharma. "We are excited to move forward with our clinical trials and are grateful for the support of our investors, whose confidence will help drive the development of our technology platform forward."

PhotonPharma's presentation at the upcoming Rocky Mountain Life Sciences Investor and Partnering Conference will provide a comprehensive overview of the company's progress and development plans. The conference will be an opportunity for investors and partners to learn more about PhotonPharma's advancements and the potential impact of Innocell™ on the treatment of ovarian cancer.

Founded in 2018, PhotonPharma is dedicated to pioneering novel drug delivery systems and targeted treatments aimed at improving cancer care. The company's innovative approach and commitment to scientific excellence position it at the forefront of cancer therapeutics.

"We invite investors and industry partners to attend our presentation at the Rocky Mountain Life Sciences Investor and Partnering Conference in September," added Dr. Alan Rudolph, CEO of PhotonPharma. "It's an excellent opportunity to learn about the development of our cutting-edge technology and the development plans for the company and its technology platform."

About PhotonPharma

PhotonPharma is dedicated to developing innovative cancer therapies that leverage the body's immune system to fight disease. With a focus on personalized medicine, the company's lead product, Innocell™, aims to provide a first in class treatment for a wide range of solid organ tumors.

For more information, please visit www.photonpharmaceuticals.com or contact:

Alan Rudolph, PhD
CEO
PhotonPharma, Inc.
[email protected]
301-520-8982

Media Contact:

Ms. Anjelica Doriety
PhotonPharma, Inc.
[email protected]
954-851-4023

SOURCE PhotonPharma Inc.