Italian clinical-stage oncology company BetaGlue Therapeutics, developing an innovative radiotherapy platform for the targeted and personalised treatment of unresectable solid tumours, called YntraDose, announced Monday that the ENEA-Tech and Biomedical Foundation (“ENEA-Tech”) has invested €6m bringing the total raised in the current funding round to €24m.
This €6m investment from ENEA-Tech follows the €8m equity financing round and the €10m EIC Accelerator Award announced in June of this year.
“We are pleased that ENEA-Tech decided to invest in BetaGlue recognizing the value of our technology and our contribution to the Italian medtech ecosystem. We will be closing 2024 having raised €24m thereby securing the resources to commence multiple clinical programs across Europe and the United States” said Salvatore Calabrese, Chief Financial Officer of BetaGlue.
“Our ability to raise €24m of investment this year is testament to the excitement surrounding the potential of the YntraDose platform but also to the calibre and dedication of the Executive team, the main board of directors and also our valued world-leading Clinical Advisory Board. Together, we are building a platform technology that has the potential to provide easy-to-use, targeted and personalised life-changing therapies for a wide range of solid tumour cancer patients” said Dr Colin Story , Chief Executive Officer of BetaGlue.
“The investment in BetaGlue is fully in line with our strategic vision to promote and support digital health and precision medicine, especially in the field of Life Sciences. BetaGlue represents a unique in the field of precision oncology radiology. Through its initiative, it aims to extend the life expectancy of patients with different forms of cancer, as well as having a positive country ecosystem, both on the national health service and at an employment level. In this way, we support an important initiative in the “One Health” journey from research to biomedical industrial development, with the aim of making processes functional and fluid, strengthening the country ecosystem and its attractiveness, both for Italian and foreign companies” said Dr. Maria Cristina Porta, General Director of the ENEA-Tech and Biomedical Foundation.