Light Sciences Oncology

About Light Sciences Oncology

In 1994, a company was founded by Llew Keltner with a promising new approach to fighting cancer. This company, Light Sciences Oncology, was built around a technology called Light Infusion Therapy. The core idea was to inject a light-activated drug into a solid tumor and then use a flexible, light-emitting diode to activate it, destroying the cancer cells from within. This method aimed to allow for repeated treatments without the severe side effects common with chemotherapy. The company showed early promise, raising significant capital to fund its research. In late 2005, Light Sciences Oncology secured a substantial $67 million in Series A funding to advance its clinical trials. This was followed by a Series C round of $40.1 million in 2008. With growing momentum, the company filed for an initial public offering in April 2006, aiming to raise over $86 million and list on the NASDAQ under the ticker "LSON". By September 2006, the proposed terms were set for 5.25 million shares at $14 to $16 each. However, the company's trajectory shifted. In February 2008, Light Sciences Oncology withdrew its IPO filing, citing unfavorable market conditions. This proved to be a major turning point. While the company continued its work and even purchased the assets of its former parent company, Light Sciences, LLC, in late 2006 to consolidate its intellectual property, it struggled to reach the next stage. By 2010, founder Llew Keltner had departed as CEO while the company awaited crucial Phase III trial results. Ultimately, Light Sciences Oncology's light faded, and the company is now considered deadpooled, a term for a company that has ceased operations.