CivaTech Oncology Raises $916,000

8/15/17

By Chris Roush, NC BIZ News

A Durham-based cancer treatment device company has raised $916,000 in a private equity offering, according to a filing Tuesday with the Securities and Exchange Commission.

CivaTech Oncology Inc. raised the money from nine investors, according to the filing. It is seeking to raise an additional $2 million.

The company last raised money in December 2016, when it raised $2.7 million.

The company has developed CivaSheet, a low-dose rate implantable brachytherapy device, which emits directional radiation.

The CivaSheet is implanted in a 15-minute procedure at the end of a surgical resection. The directional property makes the device active on one side only, and is entirely unique to CivaSheet.

This allows physicians to deliver aggressive radiation doses immediately adjacent to healthy, sensitive tissue.

CivaSheet received U.S. Food and Drug Administration clearance in 2014, and its development was partially funded by the National Institutes of Health and the N.C. Biotech Center.

The company’s chief executive officer is Suzanne Babcock, who co-founded Civatech Corp. in 1998. She co-Founded CivaTech Oncology in 2006.

Babcock served as the managing partner of Scannex Technologies LLC and vice president of administration of Troxler Electronics.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

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