The selling of $15.5 million in shares to three investment firms allows North American Scientific Inc. to continue development of a breast cancer treatment device. Three Arch Partners led the purchase with a $10 million purchase. CHL Medical Partners invested $3 million and SF Capital Partners invested $2.5 million. The money will be used for continual development of ClearPath, the company’s breast cancer treatment using internal radiation therapy, and for working capital. North American developed a similar radiation therapy for patients with prostrate cancer. The company looks forward to the success of the ClearPath product and for continued sales growth in 2008, said President and CEO John B. Rush.
