Alpheus Medical – a clinical-stage oncology company pioneering sonodynamic therapy (SDT) for the treatment of solid body cancers – announced the closing of an oversubscribed $52 million Series B financing round. This funding round was co-led by HealthQuest Capital and Samsara BioCapital with participation from existing investors OrbiMed and Action Potential Venture Capital. Venture investors also committed to transforming cancer care, including BrightEdge, the impact investment and innovation arm of the American Cancer Society, the Brain Tumor Investment Fund, a subsidiary of the National Brain Tumor Society, and Sontag Innovation Fund, a subsidiary of The Sontag Foundation.
What Alpheus does: Alpheus’ platform provides non-thermal, tumor-selective therapy activated by low-intensity diffuse ultrasound (LIDU) with oral 5-aminolevulinic acid (5-ALA). And without the need for imaging or sedation, this combination selectively targets and destroys cancer cells across the entire brain hemisphere. This treatment option is performed in an outpatient setting. Promising early results from two studies highlight SDT therapy’s potential in newly diagnosed and recurrent glioblastoma patients.
What the funding will be used for: These funds will support a Phase 2B randomized controlled trial (RCT) evaluating the efficacy of SDT in patients with newly diagnosed glioblastoma (GBM) – one of the most aggressive and deadly forms of brain cancer.
KEY QUOTES:
“The complex and diffuse nature of glioblastomas has long hindered therapeutic innovation. Alpheus’ sonodynamic therapy represents a novel, non-invasive whole brain approach with compelling early data. This investment reflects our commitment to advancing transformative technologies that seek to fill critical gaps in patient unmet needs.”
Conrad Wang M.D., Partner at HealthQuest Capital
“This investment is a key inflection point for Alpheus and the glioblastoma community – advancing sonodynamic therapy from promise to clinical validation. With this support, we are poised to generate pivotal evidence that could help establish a new standard of care for newly diagnosed brain tumors.”
Vijay Agarwal, MD, FAANS, FCNS, President and CEO of Alpheus Medical
