Carthera announced today that it closed a $40 million Series B financing round to support its ultrasound-based SonoCloud device.
Paris-based Carthera, a spinoff from Sorbonne University, develops SonoCloud to treat a wide range of brain disorders.
SonoCloud emits ultrasound to temporarily increase the permeability of blood vessels in the brain, improving therapeutic molecule delivery. After implantation in the skull, SonoCloud activates prior to the injection of a therapeutic agent. Several minutes of low-intensity ultrasound opens the blood-brain barrier for six hours, increasing the concentration of therapeutic molecules in the brain.
The system could open up treatment options for a number of indications, including brain tumors and Alzheimer’s disease. Carthera’s SonoCloud-9 system received FDA breakthrough device designation about a year ago.
A prominent, undisclosed investor led the round alongside the European Innovation Council Fund (EICF). Historic investors, including Panakès Partners, Relyens Innovation Santé (Turenne Santé) and Supernova Invest with its Supernova 2 fund, participated.
“We are delighted with the outcome of our Series B funding round,” said Carthera CEO Frédéric Sottilini. “In the next few years we are aiming at first market approval for our SonoCloud-9 device for the treatment of recurrent glioblastoma and we are eager to pursue the development of our proprietary platform technology in other brain diseases with significant unmet needs.”
Carthera’s plans for the proceeds
Carthera plans to use proceeds to launch the first pivotal multicenter trial with the technology. It also earmarked funds for the continued development of its clinical pipeline and technology.
At present, the company is in the process of submitting its registration trial for recurrent glioblastoma to the FDA and EU authorities. The international, randomized, open-label, comparative trial aims to evaluate the clinical benefit of SonoCloud-9. Carthera plans to compare its treatment to the standard of care (lomustine and temozolomide) in patients with first recurrence of GBM.
In parallel, the company plans to continue developing SonoCloud for brain oncology and neurodegenerative indications.
“Having treated more than 100 patients in Europe and the US with the SonoCloud system, with almost 500 treatment procedures performed, for Carthera to be able to continue exploring the benefit of opening the BBB by ultrasound with the financial support of renowned investment funds is a great achievement,” said Alexandre Carpentier, head of neurosurgery at AP-HP Sorbonne University, inventor of SonoCloud and founder of Carthera. “Together with Professors Roger Stupp, Ahmed Idbaih and Adam Sonabend, we are very positive about the upcoming clinical trials. We firmly believe that the SonoCloud system can improve treatment options for patients.”
Original Article: (https://www.massdevice.com/carthera-closes-40m-series-b-sonocloud/)