Blaze Bioscience raises $5M in Series A financing
Monday, June 11, 2012
Blaze Bioscience, a privately-held Seattle-based biotechnology company dedicated to developing products that assist surgeons in their quest to improve the lives of cancer patients, has raised $5 million in Series A financing.
The new funds will be used to further advance the company’s tumor paint technology, which was originated in and licensed from the laboratory of one of Blaze Bioscience’s founders, Dr. Jim Olson of the Fred Hutchinson Cancer Research Center.
Blaze Bioscience is developing tumor paint for real-time, high-resolution visualization of a broad array of solid tumors. By binding to and illuminating cancer cells, tumor paint may enable surgeons to see and remove cancerous tissue that might have otherwise been undetected. An ability to more precisely view tumor margins during surgery could also allow for the sparing of critical normal tissue, such as nerve or brain. With surgery remaining a primary form of cancer therapy and often offering the greatest chance for cure, tumor paint has the potential to transform the surgical treatment of cancer.
“This funding is a significant milestone for Blaze Bioscience. It will allow the company to transition from the seed stage to full execution mode moving tumor paint into development, including product scale up and toxicology studies, on schedule,” said Heather Franklin, co-founder, president and CEO of Blaze Bioscience.
“We remain inspired by the needs of the pediatric brain cancer patients for whom the technology was developed, and look forward to the possibility of expanding the application of tumor paint to major solid tumors,” added Dr. Jim Olson, co-founder and board member of Blaze Bioscience.