Blaze Biosciences is more than halfway to a targeted $15 million in a Series B round to fund its Tumor Paint, a surgical tool that visually distinguishes solid tumor cells from healthy cells.
Founded in 2010, the Seattle, Wash.-based Blaze Biosciences has roped in about $8.1 million since opening the round in June, and the company has until Aug. 31, 2015, when the round is set to expire, to scrounge up the next $6.9 million.
Five unnamed investors hedged their bets on the company’s tumor paint technology, originally developed by Dr. James Olsen at the Fred Hutchinson Cancer Research Center. The paint is a mixture of targeting peptide and fluorescent beacon that can be used by surgeons to precisely flag and remove all cancer tissue.
CEO Heather Franklin brought this technology out of academia and into commercial development, and last year led the company through a game-changing $8.5 million Series A round.