Delcath Systems (NSDQ:DCTH) has raised $2 million after selling 2,360 shares of Series B preferred stock at $1,000 per share to unnamed institutional investors, according to a regulatory filing.
The company wrote that it plans to use the proceeds for general corporate purposes.
Delcath is developing a system for liver-directed high dose chemotherapy, which involves a procedure known as percutaneous hepatic perfusion. During the procedure, an infusion catheter is inserted into the femoral artery and the tip of the catheter is brought to the hepatic artery to deliver a chemotherapeutic, melphalan hydrochloride.
The company’s isolation-aspiration catheter is then inserted into the femoral vein and guided to the inferior vena cava, according to Delcath, at which point two occlusion balloons are inflated to block the normal flow of blood between the liver and heart.
After isolating the liver, the device delivers high doses of melphalan to the liver and tumor tissue over the course of 30 minutes.
As the blood leaves the liver, the isolation-aspiration catheter collects it and directs it out of the body, where the chemotherapy agent is removed using Delcath’s hemofiltration system. The filtered blood is then returned to the patient’s body using a third catheter in the internal jugalar vein.
Delcath’s system for percutaneous hepatic perfusion has been studied in unresectable ocular and cutaneous liver metastases, as well as colorectal cancer and primary liver cancer.
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