Rakuten Medical Closes $100M Series F to Support Path to FDA Submission
Rakuten Medical has raised $100 million in a Series F financing round to support the continued development of its oncology programmes and preparations for future regulatory filings.
The round includes $70 million in new equity capital alongside the conversion of $30 million in previously issued convertible notes.
The biotechnology company is developing therapies based on its Alluminox platform, a photoimmunotherapy technology designed to selectively destroy cancer cells using light-activated mechanisms.
The approach aims to improve precision in cancer treatment while limiting damage to surrounding healthy tissue.
Proceeds from the Series F will be used to advance ongoing clinical trials, expand the company’s development pipeline and strengthen its regulatory strategy, including preparations for a potential US regulatory submission later in the decade.
Rakuten Medical was founded in 2010 and is headquartered in San Diego, California, though it is closely linked to Japan through its ownership and leadership structure.
The company is backed by Rakuten Group, the Japanese technology and e-commerce conglomerate, and led by its chairman and founder Hiroshi “Mickey” MikitaniDealroom has a profile for this one. Try Dealroom →.
Rakuten Medical also maintains substantial operations in Japan, where several of its clinical programmes are being developed, contributing to its prominent presence in the Japanese biotech landscape despite its US base.
Sources:
Rakuten Medical
MarketScreener
Fierce Biotech
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Image source:
The Japan Times
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