Advanced NanoTherapies announced that it closed an oversubscribed Series B financing worth more than $31 million.
An undisclosed strategic investor, along with S3 Ventures, co-led the round. The T45 Fund and new and existing investors also participated. Funding adds to $4 million raised in 2023.
The funds support the company’s therapies for coronary and peripheral artery disease (CAD/PAD). Santa Clara, California-based Advanced NanoTherapies develops a percutaneous balloon platform featuring a next-generation dual-drug (paclitaxel and sirolimus) nanoparticle. It aims to maximize therapeutic effects while promoting a more predictable, sustained vascular response than traditional drug-coated balloons (DCBs) with a single drug.
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Advanced NanoTherapies exclusively licensed the technology from the Cleveland Clinic. It’s built as a drug-agnostic, fully biodegradable platform for coronary, peripheral and future vascular applications. SirPlux Duo, the company’s lead program, holds FDA breakthrough device designation but remains investigational.
The company expects first-in-human findings from 28 patients, plus an ongoing 30-patient study in Spain meant to mirror U.S. pivotal protocol, to create a foundation for U.S. pivotal execution. It now hopes to scale manufacturing to meet FDA investigational device exemption (IDE) requirements.
Advanced NanoTherapies plans for its IDE submissions to advance two coronary indications. It targets in-stent restenosis and small-vessel de novo lesions.
“This financing milestone arrives at a pivotal moment in vascular intervention. First-generation single drug DCBs are gaining traction in the U.S. market, but they continue to expose the limitations of passive crystalline drug delivery,” said Marwan Berrada-Sounni, CEO of Advanced NanoTherapies. “ANT is uniquely positioned to advance the field through a differentiated nanoparticle-enabled approach to local vascular therapy, which is long overdue.”
