Blaze Bioscience completes $8.5 million Series A financing

Blaze BioscienceFeb 22 2013

Blaze Bioscience, Inc., a biotechnology company dedicated to developing innovative products to improve the lives of cancer patients, today announced the completion of a Series A financing totaling $8.5 million and bringing the total funds raised since inception to $9.8 million. The round was raised from individual investors, including physicians and prominent biotech executives. A majority of the investors involved in Blaze's seed funding round increased their level of participation. The funding will support the advancement of Blaze's Tumor Paint^TM product candidate, BLZ-100, into clinical development for use in surgery in multiple solid tumor types. The resources have also supported the expansion of Blaze's leadership team and establishment of corporate headquarters, including laboratory space, in the South Lake Union area of Seattle.

"We have a dedicated group of investors who share our vision of bringing light into tumor cells so that surgeons can see them in real time," said Dr. Jim Olson, Blaze Bioscience Co-Founder and Board Member.

Blaze Bioscience's Tumor Paint technology is designed to provide real-time, high-resolution visualization of a broad array of solid tumors by binding to and illuminating cancer cells to aid in surgical removal. BLZ-100, the lead product candidate incorporating Tumor Paint technology, combines a targeting peptide and a fluorescent beacon. BLZ-100 is entering toxicology studies, and a Phase 1 clinical trial exploring safety and effective imaging dose is planned in cancer patients with multiple tumor types.

New appointments to the Blaze leadership team include Dennis Miller, Ph.D., as Senior Vice President of Development, and Claudia Jochheim, Ph.D., as Senior Director of Process Development and Manufacturing.

"With this additional funding and the added expertise of Dr. Miller and Dr. Jochheim, we plan to move our first Tumor Paint product candidate, BLZ-100, into the clinic," said Heather Franklin, Co-Founder, President and Chief Executive Officer of Blaze Bioscience. "Both Dennis and Claudia have extensive experience with moving products into clinical trials and beyond."