Biotech startup Ferronova has held a $3.5 million Series A round.
The company is commercialising a new diagnosis and treatment technology, using iron and iron oxide nanoparticles for MRI.
“Ferronova is a visionary Australian company with technology solutions that are advancing the detection, diagnosis and treatment of early stage cancer,” said Dr Geoff Waring, a partner at Stoic Venture Capital, a co-investment fund with Uniseed, which led the round.
Ferronova was founded in 2016, and describes its work as having the potential to improve outcomes for those with early-stage complex cancers such as colorectal cancer.
The company was spun out of research by Victoria University of Wellington and the University of South Australia, with core IP licensed from University of Sydney.
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