Israeli Medtech start-up, Alpha Tau Medical, has raised $29 million to accelerate its promising cancer treatment Alpha DaRT (Diffusing Alpha-emitters Radiation Therapy).
The treatment is being described as a “breakthrough cancer treatment,” that delivers high-precision alpha radiation, that is released when radioactive substances decay inside the cancerous tumor. The short-range alpha particles are said to kill the cancer cells while sparing the surrounding healthy tissue. Preliminary clinical results have showed that Alpha DaRT is safe and effective for treating “squamous cell carcinoma tumors,” with all patients’ tumor sizes reducing and more than 70% of patients’ tumors completely disappearing within a few days after treatment.
This funding round was led by Shavit Capital, an Israeli private equity firm, and joined by leading global equity crowdfunding platform, OurCrowd. Additionally, Medison Ventures, the Venture Capital arm of Medison Pharma participated in the offering. Other significant private investors included the international social impact VC and private equity investors, Sir Ronald Cohen and Alan Patricof, the founders of Apax Partners.
OurCrowd uniquely provides access to promising early stage investment opportunities for smaller investors (accredited).
“We are excited by the strong support provided by these distinguished investors,” commented Uzi Sofer, Alpha Tau’s CEO. “The funding will be invaluable to explore the full potential of the Alpha DaRT as a cancer treatment for clinical trials worldwide, as well as establish global production facilities for the radioactive DaRT seeds to meet local distribution demand.”
Gary Leibler, founder and managing partner of Shavit Capital, said they are confident in Alpha Tau’s cancer treatment and called it a “game changer.”
See video below.
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