BetaGlue Therapeutics a clinical-stage company developing radiotherapy for the personalized treatment of solid tumors, announces that it has closed an €8 million equity financing round. The deal involves both existing and new ivnestors and was led by Neva and LIFTT, with participation from FinPosillipo (Petrone Group), Romed and Giovanni Cerutti.
BetaGlue, thanks to the recently announced Accelerator EIC Award worth 10 million euros in funding (including 7.5 million euros in equity) and this investment round, thus raises a total of 18 million euros.
The capital will be used to strengthen the team as well as to accelerate and expand the development of its radiotherapy platform, YntraDose aimed at treating various solid tumors.
Colin Story, CEO of BetaGlue, comments in a note, “We appreciate the support of investors who share our passion and vision toward new radiotherapy treatment options aimed at cancer patient groups with limited treatment options. This funding will enable us to advance the pipeline by reaching important development and regulatory milestones.”
Mario Costantini, managing director and chief executive officer of Neva, says, “We are pleased to have led this investment round in BetaGlue Therapeutics, an Italian company with an international team and a proven track record in the development of medical device technologies. Neva once again supports companies facing major global challenges, particularly in the life sciences sector. By funding a clinical-stage company like BetaGlue, we are contributing to the battle against cancer.”
Francesca Mongardi, LIFTT project manager, adds, “This additional investment by LIFTT confirms our confidence in Betaglue’s innovative radiotherapy solution, which can offer a new treatment for patients with solid tumors with limited options. We recognize the significant advances and innovations introduced by Betaglue, and we are convinced of the substantial potential in terms of the market, by virtue of a proposal that can address unmet clinical needs. We are excited to contribute to the development of a diverse pipeline of therapeutic indications and to support their regulatory process. This aligns perfectly with our commitment to invest in impactful solutions to advance medical science and redefine the standard of care in cancer therapy.” (BetaGlue Therapeutics website photo)
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