RadioNano Therapeutics Closes First Series B Tranche
The first close moves RN-501 from non-clinical work toward a Phase I/IIa trial, and the subscription by a smelting company alongside a university-affiliated fund pairs materials manufacturing capacity with early-stage life science capital.
Reporting from 1 source: ASCII.jp.
RadioNano Therapeutics, a Kyoto-based company developing boron agents for boron neutron capture therapy, completed the first close of a Series B round through a third-party allotment of new shares. Mitsui Mining & Smelting and Kyoto University Innovation Capital subscribed. The amount raised is undisclosed. Funds go to a Phase I/IIa trial of RN-501, the lead pipeline, and the company will keep fundraising toward a second close.
Mitsui Mining & Smelting and Kyoto University Innovation Capital took new shares in the placement. RadioNano did not disclose the amount. The company says the money covers a Phase I/IIa trial of RN-501, a GMP manufacturing and supply system for the investigational drug, and additional development staff.
BNCT kills cancer cells through the reaction between thermal neutrons and boron-10, and Japan approved it for insurance-covered care in 2020. RadioNano is developing RN-501 as a boron-rich inorganic nanoparticle formulation based on Kyoto University research, and has held regulatory science consultations with the PMDA.
Synthesized by Yomimono from the 1 cited source below, including Japanese-language reporting where cited, then editorially reviewed before publishing.