Carthera has announced an additional €4.5 million (£3.8 million) in funding to complement its Series B financing round, bringing the total raised to €42 million (£35 million).
The financing will support Carthera in launching its first registrational trial using its SonoCloud technology in the treatment of recurrent glioblastoma (rGBM).
The study will be an international, multicenter, two-arm randomised clinical trial.
The open-label, comparative pivotal trial will evaluate overall survival in patients undergoing carboplatin chemotherapy and treated with the SonoCloud-9 system to open the Blood Brain Barrier (BBB).
This will be compared to standard of care lomustine and temozolomide in patients with first recurrence of GBM.
Carey Smith, Founding Contrarian at investor Unorthodox Ventures, said: “Carthera’s technology addresses a real problem, and we’re pleased to support the company’s work and this pivotal trial.
“Carthera continues to show positive results in the treatment of recurrent glioblastoma with its SonoCloud device; we are therefore pleased to reinforce our support for the company through this financing round.
“We are confident that the expertise and clinical development experience of its management team will help the company to realize its ambitious plan.”
Alongside the clinical trial, the funds will be used to develop theCarthera’s clinical and preclinical pipeline in the field of neurodegenerative diseases.
The company is actively seeking to establish new research and clinical stage collaborations with pharmaceutical and biotech partners interested in using its SonoCloud technology to deliver their therapies to the brain.
Carthera CEO, Frédéric Sottilini, added: “I am pleased to welcome Unorthodox Ventures to our investor base, it is great to see that our programme continues to raise interest in the US market.
“I would also like to thank our historical investors for their continued support, allowing us to fulfil our mission of providing new treatment options to patients with glioblastoma and other serious brain diseases.”
