Upright Radiotherapy Start-Up Raises $25.3m In Funding
A company who is aiming to create a ‘more human way’ to deliver radiation care has now raised $25.3m in funding.
Start-up, Leo Cancer Care, has completed their latest round of funding, with investors from across the globe taking an active interest in the businesses’ plan to develop upright radiotherapy solutions.
Leo Cancer Care states it is “dedicated to (a) more human way to deliver radiation therapy”, adding that the company “has been built on research from across the globe showing the clinical benefits of upright patient positioning.”
This Series B fundraising was done through parent company Asto CT Inc. alongside the team at Pureland Global Venture.
The investors included Yu Galaxy, WARF, Alumni Ventures, Junson Capital and Serra Ventures, as well as industry players CHC, Cosylab, Toret Devices and Radiation Business Solutions.
In a statement revealing the funding, Leo Cancer Care revealed that the investment will help their multinational team continue the development of upright radiotherapy solutions.
It also details some of the benefits of such solutions, such as mobility: “Leo Cancer Care’s gantry-less solutions utilize a fixed beam meaning they have a much smaller footprint compared to existing radiotherapy machines, making them much more affordable and easier to install and maintain.”
Stephen Towe, CEO of Leo Cancer Care, further discussed what the company will do with this money. He said: “This funding is going to see Leo Cancer Care continue to commercialize upright treatment technology and allow us to increase our area of focus to also include conventional photon technology”.
Mr Towe also discussed the importance of the start-ups’ new business partners.
He added: “Pureland Ventures has been amazing on this journey so far, so it is fantastic to have them lead this Series B financing round. It’s really exciting to see such a great balance of institutional and industry investments, it shows that the industry really shares in our vision for driving change”.