On May 17, 2021 Nanology Labs, an IND-stage company developing next generation nanomedicines to conquer cancer, reported that its seed capital raise was oversubscribed at $3M (Press release, NanOlogy, MAY 17, 2021, View Source [SID1234580160]). The round was led by FACIT with co-investors Creative Destruction Lab Angels, Ontario Brain Institute, Ontario Center of Innovation, and MEDTEQ. The capital will advance development of T-MX (aka Manganescan), a smart nanomedicine designed to overcome tumor hypoxia, a common cause of resistance in cancer treatment. The financing is timely as T-MX completes GLP-toxicology and GMP-manufacturing in readiness for a Ph1/2 study in patients with oligometastatic brain cancer, planned to start at the Princess Margaret Cancer Center, recognized internationally for expertise in tumor hypoxia.
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"Nanoparticles derived from our platform technology are actively transported into cells and across the blood-brain barrier. Our lead product, T-MX, accumulates in cancer cells, where it becomes detectable by MR-imaging and generates oxygen molecules that reprogram hypoxic tumors from cold to hot. This, in turn, boosts immunogenic cell death and greatly sensitizes solid tumors to destruction by radio, chemo and immunotherapy." says Dr. Mohammad Amini, CEO and co-founder of Nanology Labs, "Extensive safety, efficacy, and manufacturing studies have de‑risked T-MX to the extent that we are confident it could provide greater therapeutic efficacy and longer patient survival, offering healthcare professionals a potentially curative therapy across a broad range of cancers."