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.

"After nearly a decade of R&D, we are excited to join the Continuity Biosciences family," acting CEO of Focal Medical Tony Voiers says in a statement. "We are grateful to our founders, scientific collaborators and investors who have helped us reach this pivotal point. Partnering with Continuity ensures that this novel therapy moves forward into the clinic, where it has the potential to help patients facing one of the deadliest cancers."

Focal Medical's lead product candidate is a device to treat pancreatic cancer that has been cleared by the U.S. Food and Drug Administration through an investigational new drug application, according to a statement. Phase 1b clinical trials are expected to begin later in 2025.

"This is a transformative milestone for Continuity Biosciences," CEO of Continuity Biosciences Ramakrishna Venugopalan says in a statement about the acquisition.

As part of the acquisition, Continuity Biosciences will obtain Focal Medical’s patents, technology and licensing agreements with University of North Carolina at Chapel Hill. Key scientific staff and leadership from the company will also join Continuity Biosciences, according to the statement. In addition, a research and development facility in Cary, North Carolina, is part of the deal.

Continuity Biosciences, which launched in 2024, develops advanced drug delivery technologies for complex and chronic diseases. According to a statement, the company now has operations in Bradenton; Houston; Raleigh; and Torino, Italy.