Advanced NanoTherapies closes $7.2M Series A for drug-coated balloon

The SirPlux Duo medicated balloon [Image from Advanced NanoTherapies]

Advanced NanoTherapies today announced the closing of an oversubscribed Series A equity financing round.

Los Gatos, Calif.-based Advanced NanoTherapies, which is developing the drug-coated balloon (DCB) SirPlux Duo for the treatment of de novo lesions of coronary artery disease (CAD), has now raised a total of $12.5 million since September 2020.

The company said in a press release that the latest funds came from various contributors in the United States, Canada, Europe and Asia. The funds will be used to complete SirPlux Duo’s first-in-human clinical study in Australia.

“Interventional therapies have historically advanced by leaps and bounds – angioplasty, bare metal stenting, drug-eluting stenting,” Reggie Groves, board member of Advanced NanoTherapies said in the release. “We believe the interventional cardiology space is ready for the next disruption in the treatment of coronary heart disease with the unique offering of the SirPlux Duo DCB. We are excited to launch the next phase of the Advanced NanoTherapies clinical program.

SirPlux Duo combines sirolimus and paclitaxel to create a next-generation, first-line therapy designed to provide stent-like patency and restenosis prevention without leaving an implant behind. Advanced NanoTherapies stated that DCB provides low-dose, long-term release of both compounds to inhibit cell growth, resulting in peak potency exceeding any other DCB or drug-eluting stent.

“Both sirolimus and paclitaxel are proven drugs in the vascular space, each with unique benefits, limitations and mechanisms of action,” said Dr. Mehdi Shishehbor, CMO of Advanced NanoTherapies, also president of Harrington Heart and vascular, University Hospitals of the Health System and Professor of Medicine at the CWestern Reserve University School of Medicine – said. “Preclinical data has shown that using the two drugs in combination results in higher antiproliferative potency at lower doses than using each drug independently. The synergistic effects of eluting them simultaneously over long periods of time may be key maintaining patency after surgery.

Advanced NanoTherapies’ nanoparticle drug delivery and encapsulation platform provides safe, reliable and long-lasting bioavailability for the two synergistic drugs in tissues, the company said.

“We are delighted to close this cycle as we prepare for clinical testing of SirPlux Duo DCB in patients with de novo coronary artery disease,” said the co-founder and CEO of Advanced NanoTherapies. Marwan Berrada said. “Thank you to everyone who helped us reach this important milestone. The Series A funding will allow us to collect the first human clinical data before the end of 2022, a key step in accelerating the paradigm shift of leaving nothing behind in the coronary arteries.