The company’s product, melphalan hydrochloride for injection for use with the Delcath hepatic delivery system, won CE Mark clearance in Europe in 2012 and is under consideration by the FDA in the U.S.
According to Delcath, its product has been used at “major medical centers” in Europe to treat a range of liver cancers. The company’s primary research aims include ocular melanoma liver metastases and intrahepatic cholangiocarcinoma.
Delcath’s system works by isolating the liver’s circulatory system, infusing the liver with chemotherapy and then filtering a patient’s blood before returning it to the patient in a procedure called percutaneous hepatic perfusion.
Three catheters temporarily isolate the liver, enable delivery of melphalan hydrochloride to the liver and collect blood leaving the liver for filtration. The filters absorb chemotherapy in an attempt to limit systemic exposure to the drug.
The process takes roughly two to three hours, according to Delcath.
The company said it expects to use the net proceeds from its $100 million offering to support its clinical development programs, including a Phase III ocular melanoma liver metastases trial and a commercial registry in the E.U.