Xoft grabs $25m for Axxent
This article was originally published in Clinica
Sunnyvale, California-based brachytherapy specialist Xoft has raised $25m from a series E preferred stock financing led by new investor Chicago Growth Partners. Xoft said it will use the funds to complete post-market studies of its Axxent electronic brachytherapy system for breast cancer and expand commercialisation activities for the product. The new capital will also go towards advancing two new applications of the technologies: endometrial and rectal cancers. Axxent, which was cleared by the FDA in 2006, delivers localised, non-radioactive, isotope-free radiation to cancer sites.