Novian Health, a Chicago, Il-based developer of a breast therapy, completed a $11m round of funding.
The investment was led by iNetworks, LLC, with participation from existing and new investors.
The company intends to use the capital to conduct multicenter clinical trials in the U.S., Britain and France on the use of nonsurgical Novilase Interstitial Laser Therapy (ILT) for treating breast cancer. Patient enrollment for the multicenter trials has already begun in the U.S.and will commence soon in Britain and France.
Led by Henry “Chip” Appelbaum, President and CEO, Novian Health has developed Novilase, a laser-based, minimally invasive device for destroying tumors. It aims to provide an alternative to conventional surgery while preserving the patient’s options for additional procedures or adjunctive therapies.
The company will also seek to close on an additional $2.5m of funding in the current round.
Novian Health has a subsidiary in Evry, France.
FinSMEs
04/02/2013