Neoprobe closes another $3M in funding

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Neoprobe, a developer of oncology and cardiovascular surgical and diagnostic products, has completed a $3 million convertible preferred stock and warrant investment by Platinum-Montaur Life Sciences.

The Dublin, Ohio-based Neoprobe said it received the third funding of $3 million in exchange for convertible preferred stock and warrants to purchase its common stock. The third funding brings Montaur's total investment in Neoprobe to $13 million.

A Phase 3 multi-center clinical trial for Lymphoseek in patients with breast cancer or melanoma is underway and a protocol for a second Phase 3 clinical study to evaluate the efficacy of Lymphoseek as a sentinel lymph node tracing agent in patients with head and neck squamous cell carcinoma has been submitted to the FDA and the European Medicines Agency, according to the company.