Vigilant Biosciences is developing products for the early detection and intervention of cancer. On Monday, the Fort Lauderdale life sciences company announced it closed a $5 million round of financing, bringing its total amount of funding raised to date to $12.5 million.
Existing investors participating in the Series B2 financing included White Owl Capital Partners, venVelo and others, as well as a group of angel investors.
Vigilant expects to use the funds to support international commercialization of its OncAlert Oral Cancer product line and the advancement of its OncAlert Labs product line. The funding also will support the continued research and development of additional products in Vigilant's pipeline.
The funding round helps successfully transition Vigilant Biosciences to a commercial-stage company that will deliver breakthrough solutions to aid clinicians in the early detection of oral cancer, said Matthew H.J. Kim, founder, chairman and CEO of Vigilant Biosciences. “These funds will also enable us to continue research and development of additional applications of our unique biomarker technology.”
There are more than 440,000 new cases of oral cancer each year worldwide, particularly among high-risk populations, such as current and former smokers, heavy drinkers or those diagnosed with human papillomavirus, or HPV-16. Vigilant Biosciences' product line based on patented technology currently includes the OncAlert Labs OraMark Test, a laboratory developed test available only through OncAlert Labs, a CLIA certified laboratory; and the OncAlert Oral Cancer RAPID Test and the OncAlert Oral Cancer LAB Test, both CE Marked and available in select markets outside the United States.
In May, Vigilant said it will begin its first U.S.-based testing of its OncAlert Labs OraMark Tests, the first quantitative oral rinse test to accurately measure a tumor-initiating and stem cell associated biomarker for oral cancer detection at its earliest stages, the company said. Also in May, the Vigilant was cleared to launch its OnAlert Oral Cancer RAPID Test, an oral rinse test, across Europe.