Investor helps Siva expand cancer study
Last Updated: 15:09 December 5, 2012
Boulder-based Siva Therapeutics will move into a 2,400-square-foot laboratory at 5541 Central Ave. in Boulder and hire a new bioengineer, said Len Pagliaro, chief executive of the four-person company. The amount of the investment and the name of the investor were not disclosed.
Siva Therapeutics' nanorod research involves minuscule rods that can be inserted into a cancer patient's body and heated to kill tumors. In October, the company received a $350,000 grant from San Francisco-based Thiel Foundation through its innovation program Breakout Labs.
Siva is using those funds to develop a portable infrared light that can be used in conjunction with rods made by NanoRods LLC, in Germantown, Maryland.
Nanorod research has been tested in pigs, Pagliaro has said in the past.
Siva Therapeutics plans to spend an estimated $25 million over seven years on pursuing approval to sell its SivaRod technology in the United States, Pagliaro has said.
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