Alume Biosciences, a La Jolla, CA-based company in the field of nerve-targeted diagnostics and therapeutics, raised $13M in Series B funding.
The backers were undisclosed.
The company intends to use the funds to advance its lead candidate, Bevonescein (ALM-488), in Phase 3 clinical trials.
Led by CEO Quyen Nguyen, Alume Biosciences is a late-stage clinical biotechnology company developing nerve specific targeting molecules. ALM-488 is a proprietary fluorescent peptide-dye conjugate in the visible spectrum and can be visualized with fluorescently enabled instrumentation including filter modified loupe systems, portable handheld systems, microscopes and laparoscopes. It binds to the extracellular matrix of nerves, allowing real-time nerve illumination during surgery and is expected to have broad surgical application.
In addition to ALM-488, the company is developing other nerve specific agents for diagnostic and therapeutic indications.