CarThera, a Paris, France-based company that designs and develops innovative ultrasound-based medical devices to treat brain disorders, closed its €9M ($10.3M) Series B funding round.
Backers included Panakès Partners, Sham Innovation Santé (advised by Turenne Capital) and Supernova Invest (via its fund Supernova 2), as well as Group Arnault and historical investors.
The company intends to use the funds to further advance the SonoCloud technology and develop its clinical pipeline.
Founded in 2010 by Professor Alexandre Carpentier as a spin-off from AP-HP, Greater Paris University Hospitals, and Sorbonne University, and led by Frederic Sottilini (CEO), CarThera designs and develops innovative therapeutic ultrasound-based medical devices for treating brain disorders.
The company developed SonoCloud, an intracranial ultrasound implant that temporarily opens the blood-brain barrier (BBB).
A multi-center study has already been launched in France and in the US to evaluate the SonoCloud-9 device, a new generation of implant with nine ultrasound emitters, in patients with recurrent glioblastoma. CarThera also has an on-going clinical study with the SonoCloud-1 device in patients with Alzheimer’s disease and one planned for patients with brain metastases.
The company is based at the Brain and Spine Institute (Institut du Cerveau et de la Moelle épinière, ICM) in Paris, France, and has laboratories at the Bioparc Laënnec business incubator in Lyon, France. Following the funding round, CarThera became a public limited company (SA), with the newly created board including a representative of the founders (Delphine Gaultier de la Ferrière), the CEO, representatives of institutional investors and a historic investor (Alexis de Longevialle, CEO of BOUSCAS).