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Avelas Biosciences Closes $6.85 Million in Series B Financing to Advance Real-Time Cancer Visualization Technology to Clinical Proof-of-Concept
Date:1/9/2014

icant step forward in the management of early breast cancer.

AVB-620, a fluorescent peptide, delivers a real-time intraoperative cancer diagnosis in the form of a luminous map, providing surgeons with enough information to make a decision during the first surgery as opposed to waiting for the results of limited pathology reports. In preclinical testing, the in vivo accuracy of AVB-620 is >95%.

"AVB-620 will enable surgeons to identify cancerous tissue during the surgical procedure, addressing a key unmet need in the oncologic surgery space," said Carmine Stengone, CEO of Avelas. "This capability will allow surgeons to make real-time decisions that will improve patient treatment and lead to significant cost savings by reducing surgical time and the number of re-operations."

The ACI technology, founded by Nobel Prize winning scientist Roger Tsien, Ph.D., utilizes the increased activity of enzymes called proteases that occur in tumors and metastases. The fluorescent peptide illuminates in the presence of pathological protease activity, thereby marking the cancerous tissue. When used in conjunction with a fluorescence imaging camera system during surgery, a color-coded image showing cancerous tissue is superimposed onto the normal surgical view, providing the surgeon a map of the cancer location.

About Avelas Biosciences
Avelas Biosciences is a San Diego-based biotechnology company focused on developing fluorescent technologies that advance a new standard-of-care for cancer surgery. Its lead candidate, AVB-620, is expected to enter clinical studies in 2014. Avelas was founded by Avalon Ventures on technology from Nobel Prize winner Roger Tsien, Ph.D.  For additional information, please visit www.avelasbio.com.


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