The company’s multi-stage drug delivery technology is based on micron-sized particles of porous silicon particles which protect their payload from several key defenses used by the body and many cancers to avoid the effective delivery of therapeutic agents.
The funds will be used to design, test and validate the commercial manufacturing process and to begin toxicology testing as an intermediate step in the process of human trials.
Leonardo Biosystems CEO Bruce Given said having demonstrated the feasibility of a high volume manufacturing process necessary for commercialization, they are looking forward to moving ahead with their development program.
Through the initial TETF investment, the company demonstrated a manufacturing process which is expected to be upgraded to produce sufficient particles for human dosing and eventual commercialization.
The company received the initial investment tranche in April 2010.