BetaGlue™ Therapeutics, a clinical-stage radiotherapy company developing novel products for the personalised treatment of solid tumour cancers today announces the closing of an €8m equity financing round. The round included both existing and new investors and was led by Neva SGR S.p.A., the venture capital arm of Intesa Sanpaolo banking group, and LIFTT S.p.A., with the participation of FinPosillipo (Petrone Group), Romed and Mr Giovanni Cerutti.
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In conjunction with the recently announced €10m blended finance EIC Accelerator Award (of which €7.5m is ‘matched equity’), a total of €18m has been secured. The funds will be used to grow the team as well as accelerate and broaden the development of its innovative radiotherapy platform called YntraDoseTM to address multiple solid tumour cancer types.
Dr. Colin Story, BetaGlue CEO commented: “We appreciate the support of new and existing investors who share our passion and vision to bring much needed new radiotherapies to cancer patient groups with limited treatment options. This funding will enable us to advance our multi-indication pipeline through the achievement of major development and regulatory milestones.”
“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 scaling medical device technologies. Neva is once again supporting companies that address major global challenges, particularly in the life sciences sector. By funding a clinical-stage company like Betaglue, we are willing to contribute to the crucial battle against certain types of solid cancers” said Mario Costantini, CEO and General Manager of Neva SGR.
“LIFTT’s investment reaffirms our confidence in BetaGlue’s innovative radiotherapy solution, which offers a new treatment for solid tumour patients with limited options. We recognize the significant progress and innovations they have achieved and acknowledge the substantial market potential addressing unmet clinical needs. We are enthusiastic about contributing to the development of a diverse pipeline of indications and supporting their regulatory pathway. This aligns perfectly with our commitment to investing in impactful solutions that advance medical science and redefine the standard of care in oncology” remarks Francesca Mongardi, Project Manager at LIFTT.
