Bradenton biopharmaceutical company acquires North Carolina business

A Bradenton-based biopharmaceutical company has acquired a North Carolina company focused on chemotherapy delivery systems. Continuity Biosciences did not disclose financial terms of its acquisition of Focal Medical.

Headquartered in Raleigh, Focal Medical was founded by scientists and clinicians who have developed a proprietary platform for chemotherapy delivery directly to tumors. The system involves using a mild electrical current to drive compounds into targeted tissues, minimizing toxicity while enhancing local drug concentration, according to a statement, which says this is especially important for treating pancreatic and other solid-tissue cancers. The company’s initial focus is pancreatic cancer.

The technology that Focal Medical uses was first developed at the University of North Carolina at Chapel Hill in conjunction with UNC Lineberger Comprehensive Cancer Center. According to its website, Focal Medical has received about $20 million in funding from high-net-worth investors and institutions as well as grants from the National Institutes of Health and the North Carolina Biotechnology Center.