CivaTech Oncology, Inc. raised $400,000 from one investor via a non-brokered private equity placement. Civatech has offered an estimated $5 million since August 2006, 27% of which was for debt and mezzanine securities. Investors Management Corp. (IMC), a Raleigh based family office, is among the financial backers of the company.
The company develops and markets polymer based medical devices to simplify and increase the effectiveness of low-dose-rate brachytherapy treatments. Brachytherapy is known as internal radiotherapy or sealed source radiotherapy, where radioactive “seeds” are inserted in the patient’s body. The company’s patented and patent-pending technology enables devices that can be designed and fabricated for specific tumor types. CivaString, the first product, has been granted FDA 510k clearance to treat any solid tumor. Further details on patents can be found at the US Patent and Trademark Office.
CivaTech, headquartered in Research Triangle Park NC, was founded in April 2006 by founder Suzanne Troxler Babcock (Chairman and CEO).