$40 million for Light Sciences – Bellevue, WA company boosts financing in cancer fight

Light Sciences Oncology http://www.lsoncology.com/ of Bellevue said Tuesday it had raised $40 million, enough to fund the company until it is able to ask the Food and Drug Administration to approve its technology’s use in patients with two types of cancer.

Light Sciences Oncology’s continued reliance on venture financing (the company has now raised $137 million in three rounds) is an indication of the troubled market for initial public offerings. Light Sciences Oncology canceled an $80 million IPO in February, citing "unfavorable market conditions."

By JOSEPH TARTAKOFF
P-I REPORTER

Full Story: http://seattlepi.nwsource.com/business/370893_lightsciences16.html