Alpha Tau Medical, a Tel Aviv, Israel-based developer of alpha-radiation cancer therapy Alpha DaRT, closed a Series B equity financing of $26m.
Investors in the round included a mix of existing investors from previous rounds, such as Shavit Capital, Medison Ventures, and OurCrowd.
The company intends to use the funds to continue to demonstrate support for the clinical development of Alpha DaRT, as well as a number of new private and family office investors primarily from Israel and North America.
Founded in 2016 and led by CEO Uzi Sofer, Alpha Tau Medical is an Israeli medical device company that focuses on research, development, and commercialization of the Alpha DaRT for treatment of solid tumors. It is now conducting clinical trials in multiple clinical indications across the world, including its first US trial at Memorial Sloan Kettering Cancer Center in New York, a pancreatic cancer trial at CHUM in Montreal, and trials at three academic institutions in Japan. The company is also establishing new global manufacturing facilities in Israel and elsewhere, and is in the middle of a process for CE marking for its first indication.
The technology was initially developed by Prof. Itzhak Kelson and Prof. Yona Keisari from Tel Aviv University.