Vigilant Biosciences has raised $5.5 million in Series B funding. The company intends to use the newly raised funds to get U.S. and European approval for its oral cancer device, the OncAlert oral cancer risk assessment system.
The OncAlert system detects specific protein markers known to indicate an increased oral cancer risk, even prior to observed visual or physical symptoms, according to the company. The system works by through an oral rinse procedure that can be applied to adults.
A mix of new and existing investors with private and angel investors financed the latest round of funding, bringing the total amount raised to $7.8 million.Viligant will largely use the funds to drive toward U.S. regulatory approval and CE Mark approval for its oral cancer risk assessment system. The company also intends to support the international product launch and commercialization of the OncAlert system and other products in its pipeline.
"As hundreds of thousands continue to be diagnosed with oral cancer every year, we are committed to providing an accurate, effective, and affordable way to aid in the early detection of risk for the disease," stated Matthew H.J. Kim, founder, chairman, and CEO of Vigilant Biosciences, in a press release. "This funding will enable us to address this critical market need that has gone unmet for far too long."