Key Takeaways:
- Carthera, a spin-off from Sorbonne University specializing in ultrasound-based medical devices for brain disorders, has successfully closed a €37.5M ($40M) Series B financing round.
- The funding round was led by an undisclosed prominent investor, with participation from the European Innovation Council Fund (EICF) and existing investors such as Panakès Partners, Relyens Innovation Santé, and Supernova Invest.
- The funds will be used to launch the first pivotal multicenter trial of Carthera’s SonoCloud technology, develop the clinical pipeline, and submit a registration trial for the treatment of recurrent glioblastoma to regulatory authorities.
- Carthera’s SonoCloud is an implantable ultrasound device that temporarily opens the Blood-Brain Barrier (BBB), enhancing the delivery of therapeutic agents to the brain.
- The company aims to achieve market approval for its SonoCloud-9 device for the treatment of recurrent glioblastoma and further develop its platform technology to address other brain diseases.
Introduction
Carthera, a spin-off from Sorbonne University specializing in ultrasound-based medical devices for brain disorders, has successfully completed a €37.5M ($40M) Series B financing round. The funding will support the launch of a pivotal multicenter trial for Carthera’s SonoCloud technology and advance its clinical pipeline.
Strong Investor Support
An undisclosed prominent investor led the Series B funding round, demonstrating confidence in Carthera’s innovative technology and potential. The European Innovation Council Fund (EICF) also participated, along with existing investors Panakès Partners, Relyens Innovation Santé, and Supernova Invest with its Supernova 2 fund.
Advancing Clinical Trials and Technology Development
The funds raised in the Series B round will enable Carthera to launch its first pivotal multicenter trial using the SonoCloud technology. The company plans to submit a registration trial to the US Food and Drug Administration (FDA) and European competent authorities for the treatment of recurrent glioblastoma (GBM). The trial will be an international, multicenter study comparing the clinical benefit, in terms of overall survival, of the SonoCloud-9 system with the standard of care in patients with first recurrence of GBM.
Additionally, Carthera will continue to develop its SonoCloud technology platform for brain oncology and neurodegenerative indications, leveraging its successful track record of treating over 100 patients in Europe and the US with the SonoCloud system.
The Potential of SonoCloud
Carthera’s SonoCloud is an implantable ultrasound device designed to temporarily open the Blood-Brain Barrier (BBB). By emitting low-intensity ultrasound, the device enhances the permeability of blood vessels in the brain, allowing for improved delivery of therapeutic molecules. The safety and efficacy of SonoCloud have been demonstrated in multiple therapeutic agents and sonication procedures.
Recent publications by independent researchers have highlighted the ability of SonoCloud-9 to significantly increase the penetration of therapeutic molecules in the brain. These promising results have generated enthusiasm among clinical investigators and motivated ongoing and upcoming studies.
Optimistic Outlook and Future Goals
Professor Alexandre Carpentier, head of the neurosurgery department at AP-HP Sorbonne University, inventor of SonoCloud, and founder of Carthera, expressed his optimism about the upcoming clinical trials and the potential of the SonoCloud system to improve treatment options for patients. The collaboration between Carthera and esteemed experts in the field, including Professors Roger Stupp, Ahmed Idbaih, and Adam Sonabend, further strengthens their confidence in the technology.
Carthera aims to obtain market approval for its SonoCloud-9 device for the treatment of recurrent glioblastoma and plans to continue the development of its proprietary platform technology to address other brain diseases with significant unmet needs.
Support and Acknowledgments
The success of Carthera’s Series B funding round highlights the continued support from renowned investment funds and the confidence in the potential of its ultrasound-based platform technology. Diana Saraceni, founder and managing partner at Panakès, expressed pride in being part of Carthera’s journey, recognizing the company’s positive results and potential in addressing therapeutic indications in the neurodegenerative field.
Frédéric Sottilini, CEO of Carthera, expressed satisfaction with the outcome of the funding round, stating that the company is now well-positioned to launch an ambitious phase 3 trial and expand the evaluation of its SonoCloud technology in multiple clinical indications. Carthera aims to achieve first market approval for its SonoCloud-9 device for the treatment of recurrent glioblastoma, while continuing to pursue the development of its platform technology for other brain diseases with unmet needs.
Financial and Legal Advisors
Andrew Amiel served as the financial advisor for Carthera’s Series B funding round. The legal advisors for the transaction were White and Case and Egyp Avocats.
About Carthera and SonoCloud®
Carthera is a clinical-stage medtech company focused on developing innovative ultrasound-based medical devices for a wide range of brain disorders. The company, a spin-off from AP-HP Paris and Sorbonne University, leverages the inventions of Professor Alexandre Carpentier, a renowned neurosurgeon at AP-HP Sorbonne University. Carthera’s flagship product is SonoCloud, an intracranial implant that temporarily opens the Blood-Brain Barrier (BBB). The device is currently undergoing clinical trials in Europe and the United States. The safety and efficacy of the SonoCloud device for investigational use have not yet been determined, and it has not received approval from regulatory authorities such as the EMA or FDA.
For more information about Carthera, please visit www.carthera.eu.
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