CarThera Secures €9 Million in Series B Funding to Advance SonoCloud Intracranial Ultrasound Device for Brain Tumor Therapy

Recently, VCBeat (WeChat Official Account: vcbeat) learned that medical device company CarThera has completed a €9 million Series B financing round to advance its SonoCloud technology and clinical trials for recurrent glioblastoma. Investors in this round include Panakès Partners, Sham Innovation Santé, Supernova Invest, and Groupe Arnault.

CarThera, founded in 2010, is a startup company affiliated with the Assistance Publique – Hôpitaux de Paris (AP-HP) that specializes in the research and development of medical devices leveraging ultrasound technology for brain tumor treatment. The company currently has two products utilized in outpatient surgical procedures; among them, Sono Cloud, invented by Professor Alexandre Carpentier, a neurosurgeon at AP-HP, has gained widespread recognition in the treatment of neurological disorders.

In the United States and Europe, more than 250,000 people are diagnosed with brain tumors each year. Following surgical resection of the tumor, patients typically undergo further chemotherapy. However, due to the presence of the blood–brain barrier (hereinafter referred to as BBB), most drug molecules can hardly penetrate into brain tissue, thereby failing to achieve the expected therapeutic efficacy. Since 1998, nearly 75 drug development programs for brain tumor treatment have been discontinued one after another due to poor clinical outcomes; even some drugs that have demonstrated significant efficacy against solid tumors such as breast cancer and melanoma have had their development forcibly suspended. Overcoming the obstacle posed by the BBB to provide more effective treatments for patients has become an urgent challenge for experts in the field of brain tumor research.

Based on this, CarThera has developed an intracranial ultrasound device called SonoCloud. This device can temporarily open the blood-brain barrier (BBB) using low-intensity ultrasound, increasing vascular permeability in the brain and enhancing the efficacy of chemotherapy drugs. In principle, it can be used to treat primary brain tumors (such as gliomas, glioblastomas, astrocytomas, etc.) as well as secondary brain tumors.

Professor Alexandre Carpentier, founder of CarThera, stated: “As a pioneer in the field of brain ultrasound therapy, CarThera has been dedicated to this area for over a decade. We are deeply grateful to receive financial support from so many renowned investment firms. Every member of our team is confident in the upcoming clinical trials, and we firmly believe that SonoCloud can provide patients with superior treatment options.”

It is reported that following this round of financing, CarThera will become a public limited company. Frederic Sottilini, Chairman of the Board and Chief Executive Officer of CarThera, stated, “This financing provides CarThera with a stable and flexible source of capital, while also opening up greater possibilities for our in-depth clinical research on brain tumors.”

Panakès Partners is a venture capital firm headquartered in Milan, Italy. The firm primarily provides funding to startups and small and medium-sized enterprises (SMEs), with its main investment focus on Europe and Israel. It is dedicated to advancing the medical devices, medical diagnostics, and healthcare sectors.

Sham Innovation Santé was established in Lyon, France, in July 2014. The company’s primary investment areas include healthcare, life sciences, and biotechnology.

Supernova Invest is a French venture capital firm that primarily provides funding to startups in the fields of life sciences, energy and environment, industry, microelectronics, and digital technology. Since its establishment in 1999, the company has invested in more than 100 startups, with assets under management totaling €250 million.

Groupe Arnault is an investment company headquartered in Paris, France, founded in 1978.