Summary:
- Alpheus Medical, a clinical-stage oncology company based in Chanhassen, MN, secured $52M in Series B funding.
- The funding round was led by HealthQuest Capital and Samsara BioCapital, along with participation from existing investors.
- The company plans to use the funds for a Phase 2B trial evaluating the efficacy of their therapy in patients with glioblastoma.
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Article:
Alpheus Medical Secures $52M in Series B Funding
Alpheus Medical, a private clinical-stage oncology company headquartered in Chanhassen, MN, recently announced the successful closure of a $52M Series B funding round. The funding was led by HealthQuest Capital and Samsara BioCapital, with participation from existing investors including OrbiMed, Action Potential Venture Capital, BrightEdge, the Brain Tumor Investment Fund, and Sontag Innovation Fund.
The primary objective of this funding round is to support a Phase 2B randomized controlled trial (RCT) aimed at evaluating the effectiveness of Alpheus Medical’s therapy in patients diagnosed with glioblastoma (GBM). Led by Vijay Agarwal, MD, FAANS, FCNS, who serves as President and CEO, Alpheus Medical offers a unique platform that delivers non-thermal, tumor-selective therapy activated by low-intensity diffuse ultrasound (LIDU) in combination with oral 5-aminolevulinic acid (5-ALA).
One of the key advantages of Alpheus Medical’s treatment approach is its ability to selectively target and destroy cancer cells across the entire brain hemisphere without the need for imaging or sedation. This innovative therapy option can be administered in an outpatient setting, making it a convenient and potentially impactful solution for patients undergoing treatment for GBM.
As Alpheus Medical continues to advance its research and development efforts, the company remains committed to addressing the critical unmet needs in oncology treatment. The successful completion of this Series B funding round represents a significant milestone for the company and underscores the potential of their innovative therapy approach.
Conclusion
The latest funding injection will enable Alpheus Medical to further advance their clinical trials and bring their groundbreaking therapy closer to patients in need. With a strong focus on innovation and patient-centered care, Alpheus Medical is well-positioned to make a meaningful impact in the field of oncology treatment. Stay tuned for updates on their progress as they continue to push the boundaries of cancer therapy.
