Pharmacyte Biotech Inc. has raised $90 million to move its live cell encapsulation technology for cancer and diabetes further into the clinic. CEO Kenneth Waggoner told BioWorld that the first task is to work through studies and gather other information required by the FDA to get a clinical hold, imposed last November, lifted on trials in pancreatic cancer.

Pharmacyte Biotech Inc. is now in a series of 30-day cycles with the FDA as a planned phase IIb study of its lead candidate has been placed on hold. On Sept. 2, Pharmacyte submitted its IND for a phase IIb trial of its product, known as Cypcap, in locally advanced, inoperable pancreatic cancer and, on Oct. 2, the company said the FDA placed the application on hold.