PhotonPharma Gains $2.5M Seed Funding for Ovarian Cancer Treatment Trial

PhotonPharma, a pioneering biopharmaceutical company headquartered in Fort Collins, Colorado, has successfully secured $2.5 million in seed funding. This significant investment will facilitate the Phase I clinical trial of Innocell™, a groundbreaking therapy designed to treat advanced ovarian cancer. According to the National Cancer Institute, ovarian cancer will affect 19,680 women in the United States and result in 12,740 deaths in 2024. The five-year relative survival rate for this disease stands at 50.4% for the period from 2014 to 2020.

In February 2024, PhotonPharma received clearance from the FDA to commence clinical trials for Innocell™. The Phase I trial is anticipated to begin enrolling its first participants in the fourth quarter of 2024. This trial represents a critical phase in determining both the safety and effectiveness of this promising new treatment.

Dr. Terry Opgenorth, Chairman of the Board of Directors at PhotonPharma, highlighted the importance of this funding milestone. "This financial support is a significant achievement for PhotonPharma and marks a pivotal point in our mission to advance innovative cancer therapies," stated Dr. Opgenorth. "We are eager to proceed with our clinical trials and appreciate the confidence shown by our investors, which will propel the development of our technological platform forward."

PhotonPharma is set to present a detailed overview of its progress and future plans at the forthcoming Rocky Mountain Life Sciences Investor and Partnering Conference. This event will offer an opportunity for investors and partners to gain deeper insights into PhotonPharma's advancements and the potential impact Innocell™ could have on ovarian cancer treatment.

Established in 2018, PhotonPharma is committed to developing novel drug delivery systems and targeted treatments to improve cancer care. Through its innovative approach and dedication to scientific excellence, the company has positioned itself at the forefront of cancer therapeutics.

Dr. Alan Rudolph, CEO of PhotonPharma, extended an invitation to investors and industry partners to attend their presentation at the Rocky Mountain Life Sciences Investor and Partnering Conference in September. "This is an excellent opportunity to learn about the advancements of our cutting-edge technology and our future development plans," remarked Dr. Rudolph.

PhotonPharma is focused on creating innovative cancer therapies that utilize the immune system to combat disease. Emphasizing personalized medicine, the company's flagship product, Innocell™, aspires to offer a first-in-class treatment for a variety of solid organ tumors.