On April 23, 2024 Red Arrow Therapeutics Inc. reported the company closed a $4.5M Seed Extension round, raising from four, top-tier institutional investors in Japan (Press release, Red Arrow Therapeutics, APR 23, 2024, View Source [SID1234642258]).

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Participants of this round are:

Beyond Next Ventures Inc.
The University of Tokyo Edge Capital Partners Co., Ltd.
Keio Innovation Initiative, Inc.
OSAKA University Venture Capital Co., Ltd.
This boosts the accumulative funding raised by Red Arrow Therapeutics to nearly $5.5M, along with previous funding from The University of Tokyo Edge Capital Partners Co., Ltd., University of California, Berkeley’s accelerator SkyDeck , and other non-dilutive funding.

Emerging from the University of Tokyo’s Cabral Lab in 2021, Red Arrow Therapeutics Inc. develops pH-sensing nanomedicine drug delivery technologies for multiple therapeutic areas such as oncology. Headquartered in Boston, Massachusetts, the company is committed to delivering cutting-edge technology for patients in need worldwide.

The Seed extension round will allow Red Arrow Therapeutics to obtain key preclinical data on safety and efficacy of their lead compound, IL-12-loaded nanopolymeric micelles. The funding will also enable manufacturing initiation in collaboration with external partners.