UNC-Chapel Hill spinout Falcon Therapeutics has raised a seed round from unnamed backers.

Falcon Therapeutics, a US-based brain cancer-focused biotech spinout from University of North Carolina (UNC) at Chapel Hill, today obtained $700,000 of seed money from undisclosed investors today, according to a regulatory filing.

Founded in 2015 by Shawn Hingtgen, an assistant professor in the Division of Molecular Pharmaceutics at UNC’s Eshelman School of Pharmacy, the spinout is working on a brain cancer treatment that uses neural stem cells collected through a biopsy the patient’s own skin.

The spinout, headed by chief executive and chairman Karen Giroux, has filed for two patents related to its therapy. Giroux also serves on the board of Polymerix, a spinout from Rutgers University that focuses on the development of painkillers.

According to the UK’s Office of National Statistics, just 11.9% of brain cancer sufferers diagnosed in 2015 can be expected to survive until 2025.