Celsion raises $6M to further heat-activated doxorubicin for primary liver cancer
This article was originally published in Scrip
Celsion has closed the sale of $6.6 million of the company's securities in a registered, direct offering to institutional investors, gaining about $6 million in net proceeds to advance its cancer drug pipeline. Most investors have focused their attention on the company's heat-activated doxorubicin product, ThermoDox, which is being evaluated in a 600-patient, global Phase III trial in patients with non-resectable hepatocelluar carcinoma (HCC), or primary liver cancer. Enrolment in that trial, known as HEAT, is nearing completion, and a pre-planned efficacy analysis will be provided in 2011, followed by top-line results in 2012.