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Alume Biosciences Completes $5.5M Series A Financing

May 01, 2020•over 5 years ago

Amount Raised

$5 Million

Round Type

series a

La Jolla

Description

Alume Biosciences, Inc., a privately held biotechnology company developing nerve-targeted pharmaceuticals for surgical and therapeutic use, today announced that it has completed a Series A funding in the amount of $5.5 million dollars. The Series A round is expected to fully fund a Phase 1/2 study of lead candidate ALM-488, an intravenously administered peptide-dye conjugate for fluorescence highlighting of nerves during surgery. ALM-488 will be examined for both safety and efficacy in a Phase 1/2 clinical trial in patients undergoing head and neck surgery.

Company Information

Company

Alume Biosciences, Inc.

Location

La Jolla, California, United States

About

Alume is a biotechnology company founded in 2017 that is developing nerve-targeted pharmaceutical agents for surgical and therapeutic use. The company's first product, ALM-488, is a fluorescently labeled peptide-dye conjugate that makes human nerves "glow," helping surgeons reduce injury to critical nerves during surgery. During surgery, inadvertent injury to nerves leads to loss of function, including paralysis, numbness and decreased quality of life. Alume intends to develop agents including ALM-488 to be used as an adjunct during surgery to help surgeons see nerves better compared to current visualization with white light alone. Alume's technology has the potential to improve the accuracy of nerve identification, decrease operative time, and lead to better outcomes for patients.