Over $25m was raised by a start-up company aiming to bring upright radiotherapy solutions to the masses.
Leo Cancer Care has completed their series B round of funding and has found support from both renowned investors and industry players. Investors include Yu Galaxy, WARF, Alumni Ventures, Junson Capital and Serra Ventures, as well as CHC, Cosylab, Toret Devices and Radiation Business Solutions.
Stephen Towe, CEO of Leo Cancer Care, discussed the investment. He said: “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”.
His company describe themselves as being “dedicated to (a) more human way to deliver radiation therapy”, and state that they are “built on research from across the globe showing the clinical benefits of upright patient positioning.”
It is thought that the investment will further the development of their upright radiotherapy solutions. A statement released from the company discussed this continued development, alongside some of the company’s future plans.
It read: “The investment raised will support Leo Cancer Care to expand their teams in the US, Europe and Singapore and support the ongoing development of their upright radiotherapy solutions, which will make both Particle and Proton Therapy more accessible than ever before. 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.”
This Series B fundraising was done through parent company Asto CT Inc. alongside the team at Pureland Global Venture.