Israeli biotech startup BioProtect has raised $25 million in a Series D financing round for an ongoing clinical trial of its bioabsorbable polymer spacer balloon, the company announced Monday.
Every year, more than 1.1 million men worldwide are diagnosed with prostate cancer. Approximately 400,000 will undergo prostate radiotherapy. However, that therapy has been limited by concerns of toxicity.
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BioProtect has developed the ProSpace balloon spacer, which helps reduction of radiation therapy risks by pushing the prostate away from adjacent organ at risk, the rectum.
The spacer remains stable during radiation therapy and is gradually absorbed after radiation therapy is completed.
The technology from BioProtect has additional applications for radiation therapy for cervical and pancreatic cancers, as well as general surgery.
Last year, a BioProtect spinout for musculoskeletal applications, Orthospace, was acquired by Stryker for a reported $220 million.
CEO Gil Rosen said that the latest financing round would allow BioProtect to complete a "pivotal study, gain FDA approval, and accelerate development of the next indication to our platform."
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