INetworks, a US-based health services provider, has led the $11m series A round for Novian Health, the US-based developer of a treatment for breast cancer called Novilase.
Novian is looking to raise a further $2.5m in its A round.
The $11m will primarily be used to conduct Novian’s clinical trials in the US, UK and France on the use of non-surgical Novilase Interstitial Laser Therapy for treating breast cancer.
Henry “Chip” Appelbaum, executive president of Novian, said: “iNetworks has a deep understanding of oncology and breast cancer treatment issues. Their confidence in the application of Novilase ILT to early-stage disease underlines the promise of Novian’s approach.”
Anthony Lacenere, managing director of iNetworks, added: “We have long been impressed with the Novilase therapy, and we expect it to help pioneer major improvements in the treatment of early-stage breast cancer.”