Delcath Systems Raises $9.5 Million in Private Placement to Advance Novel Hepatic Delivery System for Ocular Melanoma Liver Metastases

On August 22, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Delcath Systems (Delcath), a specialized pharmaceutical and biotechnology company, raised $9.5 million through a private placement. The investors in this financing round were not disclosed. Additionally, John R. Sylvester, Chief Commercial Officer of healthcare company BTG, will join the Board of Directors of Delcath.

It is reported that Delcath had previously completed five rounds of financing. Among these, the company closed a $20 million financing round in July 2019 and a $35 million financing round in June 2016.

Delcath will use the proceeds from this financing to develop hepatic drug delivery systems, such as Melphalan CS-PHP, for the treatment of patients with liver metastases from ocular melanoma.

Delcath, founded in 1987 and headquartered in New York, USA, is a publicly listed company in the biotechnology and pharmaceutical industries. The company specializes in oncology research, primarily developing drugs for primary and metastatic liver cancer to improve patient treatment outcomes. Currently, Delcath’s liver cancer therapies and targeted drug delivery systems are at the forefront of the cancer treatment field.

Delcath has developed liver-directed high-dose chemotherapy based on percutaneous hepatic perfusion (PHP) technology, which delivers high concentrations of chemotherapeutic agents directly to the liver to spare other normal tissues from exposure to potent chemotherapy drugs. Liver-directed high-dose chemotherapy is primarily used to treat metastatic ocular melanoma to the liver, hepatocellular carcinoma (HCC), neuroendocrine tumors, and colorectal cancer. Clinical results have demonstrated that Delcath’s innovative therapy significantly improves treatment outcomes for cancer patients compared with systemic cancer therapies.

Ocular melanoma is the most common primary intraocular malignancy in adults and the second most common melanoma after cutaneous melanoma. Approximately 2,000 patients are diagnosed with ocular melanoma annually in the United States. Like other melanomas, this tumor originates from melanocytes. Clinical manifestations include visual field defects, decreased visual acuity, ocular pain, and recurrent inflammation, with most cases being unilateral.

The Melanoma International Foundation (MIF) states that ocular melanoma can metastasize via the bloodstream, typically spreading from the eye to the liver first and causing hepatic lesions.

Delcath has also developed a patented product—the Melphalan Hepatic Delivery System (Melphalan/HDS)—which is primarily used to isolate the hepatic circulatory system for the treatment of primary liver cancer.

Delcath stated that the drug-device combination is a targeted delivery system capable of supplying high-concentration chemotherapy to the liver while controlling systemic drug levels. The Melphalan/HDS system has currently received CE marking in the European Union and is marketed in Europe under the trade name Delcath Hepatic Chemostat. Additionally, Delcath is exploring the therapeutic potential of this system for other cancers, such as intrahepatic cholangiocarcinoma (ICC).

Jennifer K. Simpson, President and Chief Executive Officer of Delcath, stated, “This investment signifies that Delcath has exceeded its fundraising targets. We will leverage our existing resources to further expand the company’s scale and create value for the market. Meanwhile, Delcath’s experienced drug development team will continue to drive rapid advancements in the field of oncology therapeutics.”

(Compiled by Xu Xiaoxue)