Alpha Tau Medical, an Israeli medical tech startup developer of a breakthrough alpha radiation cancer therapy, today announced it has raised $29 million in funding led by Shavit Capital. The round also included participation from OurCrowd.com, Medison Ventures and significant private investors contributed to the funding round including the preeminent international social impact VC and private equity investors, Sir Ronald Cohen and Alan Patricof, the founders of Apax Partners.
Founded in 2016, Alpha Tau Medical is focusing on R&D and commercialization of its breakthrough cancer treatment, Alpha DaRT. Alpha DaRT (Dіffusіng Alpha-emіtters Radіatіon Therapy) enables the first alpha-radiation-based cancer treatment for various types of solid tumors. It delivers high-precision alpha radiation, that is released when radioactive substances decay inside the tumor.
The short-range alpha particles effectively kill the cancer cells while sparing the surrounding healthy tissue. Preliminary clinical results 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.
The company has started clinical trials with leading research centers throughout the world to investigate Alpha DaRT as a treatment for cancer using different protocols across a variety of indications, including:
– Pancreatic cancer
– Breast cancer
– Head and neck cancer
– Gynecological cancer
– Prostate cancer
Alpha Tau has already established subsidiaries in the USA and Japan and is in the process of forming further collaborations, to enable optimized local distribution and manufacturing of the Alpha DaRT cancer treatment.
“We are excited by the strong support provided by these distinguished investors,” said 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.”