Light Sciences gets $40 million in venture capital

Light Sciences Oncology said today that it has raised $40 million from undisclosed venture capitalists.

The Bellevue company plans to use the money to develop its cancer-fighting therapy, which is currently undergoing late-stage clinical trials in patients with liver, brain and colorectal cancer. The company didn't reveal the names of the investors.

The latest funding brings the total amount of venture capital raised by Light Sciences to $137 million. The company raised $97 million in two previous venture capital rounds in 2005 and 2007.

"We are approaching exciting milestones in the development of Litx, including the completion of enrollment in our Phase III primary liver cancer trial," said Llew Keltner, president and chief executive officer of Light Sciences Oncology. Leerink Swann acted as exclusive placement agent and exclusive financial adviser in connection with the transaction.

Light Sciences, which seeks to develop light-activated treatments for cancer, was founded in 1994.

Ángel González: 206-515-5644 or agonzalez@seattletimes.com