LSO rounds up $40M in third venture round

Bellevue, WA-based Light Sciences Oncology has garnered $40.1 million in new venture funds to advance its work on light infusion therapies. The developer has raised $97 million in two earlier rounds, but has not released the names of investors involved in the latest round. According to LSO, researchers are undertaking two Phase III clinical trials in patients with hepatocellular carcinoma and metastatic colorectal cancer. There's also a planned Phase III trial in glioblastoma multiforme, and early stage clinical trials in benign prostatic hyperplasia. LSO scrapped plans for an $80 million IPO last February.

"We are approaching exciting milestones in the development of Litx, including the completion of enrollment in our Phase III primary liver cancer trial," said Llew Keltner, M.D., Ph.D., president and chief executive officer of Light Sciences Oncology. "The Series C funds combined with our substantial cash reserves will allow us to continue to move forward with all aspects of our development plan in a timely manner."

- read the funding release

ALSO: Dicerna Pharmaceuticals, an RNA interference company, today announced a second closing of its Series A financing, receiving a total of $8.4 million in additional venture capital from new investor Abingworth and existing investors Oxford Bioscience Partners and Skyline Ventures. Release

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