News | August 11, 2008

Xoft Secures Additional Funding for Electronic Brachytherapy Technology

August 12, 2008 - Xoft Inc. said the company has closed its Series E preferred stock financing, raising a total of $25 million in additional funding for the Axxent Electronic Brachytherapy System, which uses a miniaturized X-ray source that delivers localized and targeted radiation treatment in virtually any clinical setting under the supervision of a radiation oncologist.

“We have experienced strong market acceptance since commercializing the Axxent System for the treatment of breast cancer late last year,” said Michael Klein, Xoft CEO and president. “These funds will be used to complete the post market Electronic Xoft Intersociety Brachytherapy Trial (EXIBT) and patient registry of 400 patients and expand market penetration of our breast cancer application, as well as accelerate commercialization of our new endometrial and rectal indications.”

Developed for accelerated treatment of early stage breast cancer and endometrial and rectal indications, the Axxent Electronic Brachytherapy System is also cleared for use in the treatment of other cancers or conditions where radiation therapy is indicated.

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