MyCare products are being designed to aid patient dosing for cancer and CNS diseases.
Saladax Biomedical closed an $8.4 million Series C preferred offering. The funding will be used to accelerate product development and expand clinical support of Saladax’ MyCare™ line of tests, which measure blood levels of cancer and central nervous system (CNS) disorder drugs.
Saladax’ initial focus is on developing in vitro assays that measure chemotherapy drug levels in plasma using mAbs bound to nanoparticles. The majority of these antibodies are the first ever developed against the drugs in question, the company points out.
Saladax has one commercial product, OnDose, which it licensed to Myriad Genetics in 2008. OnDose provides pharmacokinetically guided dose-adjustment data of infusional 5-FU to help optimize dosing for patients with colorectal cancer.
The financing round was led by Excel Venture Management, and participants included Golden Seeds, Ben Franklin Technology Partners, the Life Sciences Greenhouse of Central Pennsylvania, and a number of angel investors.
