Cell>Point has yet to release a product to market, but it is not your typical startup. The Centennial-based biotech company was formed 10 years ago and says it has raised nearly $46 million, including $3 million over the past three months.
The company is developing an agent for cancer detection, quantification and monitoring. The key to the agent is that it could potentially be used with lower-cost SPECT imaging cameras that run from $200,000 to $400,000 each, said Terry Colip, managing partner and co-founder.
Existing cancer agents are compatible with PET cameras, which can cost up to $3 million, he said.
The agent is undergoing a Phase III trial with the U.S. Food and Drug Administration. Colip said Cell>Point’s investments have come from high-net-worth individuals, pension and retirement funds and private equity players.
“We’ve spent over $32 million refining the agent,” said Colip, who previously worked in health care investment banking. “We’re in licensing discussions on worldwide rights with about 15 major pharmaceutical companies.”
The goal is to sign a licensing deal during the first quarter and wrap up the Phase III trial in May.
