Photo Credit: Alpha Tau / YouTube screen capture
Graphic image of a solid cancer tumor

The developer of a new form of radiation cancer therapy announced Wednesday that its company has secured $29 million in private financing.

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The funding round for Alpha Tau Medical, which developed the Alpha DaRT cancer treatment for various types of solid tumors, was led by Shavit Capital, OurCrowd.com and Medison Ventures, the venture capital arm of Medison Pharma. Shavit Capital is an Israeli private equity firm specializing in funding late stage investments. OurCrowd is a global equity crowdfunding platform.

Other significant private investors contributing to the funding round include international social impact VC and private equity investors Sir Ronald Cohen and Alan Patricof, founds of Apax Partners.

“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.”

Alpha DaRT (Dіffusіng Alpha-emіtters Radіatіon Therapy) enables the first alpha-radiation-based cancer treatment for various types of solid tumors. The treatment 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 percent of patients’ tumors completely disappearing within a few days after treatment, according to a release by the company.

Alpha Tau has begun clinical trials with research centers around 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 and prostate cancer.

The DaRT technology was invested in 2003 by Professor Itzhak Kelson and Professor Yona Keisari from Tel Aviv University. It was originally patented by Ramot, the Business Engagement Center of Tel Aviv University, which became a shareholder of Alpha Tau Medical. Among the private investors who supported the development of the therapy to that point was Leonard Gordon, who initially identified the potential of the technology.

The company, established in 2016, has established subsidiaries in the United States and Japan. For more information, click here.

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Hana Levi Julian is a Middle East news analyst with a degree in Mass Communication and Journalism from Southern Connecticut State University. A past columnist with The Jewish Press and senior editor at Arutz 7, Ms. Julian has written for Babble.com, Chabad.org and other media outlets, in addition to her years working in broadcast journalism.
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