BetaGlue Technologies

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Medtech radiotherapy co. BetaGlue raises €18 million in financing,   What 6 things can medtech startups learn from this example?   Think in terms of what investors look for from an intro slide deck. Define each area clearly and have a tight focus:   1. Problem   Radiotherapy to solid tumours is a mainstay of cancer treatment. Problems include (i) targeting the tumour area while trying to limit damage to local healthy tissue, and (ii) where radioembolisation is used ensuring there are suitably accessible blood vessels which supply the affected organ and tumour (radioembolisation is a minimally invasive treatment using radioactive beads, delivered via blood vessels, to target liver cancers).   2. Solution   BetaGlue is developing a localised and targeted treatment for unresectable solid tumours, via its radiotherapy platform called YntraDose. This involves percutaneous delivery of a mixture of radioactive (Yttrium-90 (Y-90)) coated microspheres and a ‘bioglue’ hydrogel that rapidly sets holding the microspheres within the tumour. It’s performed under CT or ultrasound guidance, as an outpatient procedure and without a general anaesthetic.   Interestingly, Y-90 is a well validated and characterised radio-isotope through its use in radioembolisation of liver tumours. BetaGlue’s innovation is around the localised delivery approach and non-reliance on arterial blood supply. This enables multiple anatomical sites to be targeted beyond those in the liver.   3. Market   Initially BetaGlue is focused on liver and pancreatic cancer, with follow-on use in other organs, and combined with immuno-oncology drugs. The TAM for liver and pancreas alone is > €2 billion. (As a backdrop, the wider market for single dose radiotherapy is expected to reach $16 billion by 2033).   4. Traction   The liver program is in clinical phase I/II, pancreas is at pre-clinical stage. The company has also built a strong clinical advisory board and KOL network (essential for clinical adoption).   5. Team   The team includes expertise in life science startups and entrepreneurship, oncology, financial management and corporate finance, clinical trials, QA, manufacturing, product development, regulatory (including US FDA and EU MDR) and experience of private and listed companies. So, people who’ve been there and done it.   6. Financials   To date, BetaGlue has raised €33 million of equity and grant financing. This latest €18m round was €15.5 million equity and a €2.5 million grant.   Investors love this approach as the non-dilutive grant funding gives more ‘bang for your buck.’ It also points to external validation from multiple funding sources.   Your startup may be at an earlier stage than BetaGlue, but use these insights to help share your story and make your next raise.   Congratulations to Colin Story, CEO and team BetaGlue Therapeutics.   #medtech #startup #fundraising #cancer #radiotherapy   https://lnkd.in/eWrGQnzD

Lira.ltd is proud to have worked with BetaGlue Technologies on successfully raising €10mn from the #EIC Accelerator. BetaGlue Technologies was one of the three Italian companies to be awarded funding in the November 2023 cut-off. This was the most competitive cut-off since June 2021 with a FA>W success rate of 4%. At Lira we love helping breakthrough life science companies to raise funds from the EIC. Contact us to know more: www.lira.ltd/contact #eic #eicaccelerator2024 #eicaccelerator #horizoneurope Lira.ltd, Emmanuele Angione, Paul Pietrangelo, Marcello De Falco, Giorgio Recine, Maura Bernardini, Lorenzo Stramucci, Marco Abate, Mario Kostan, Nicole Di Nardo, Bevan Carr, Jim Ryan, Tzali Cnaani, Peter Ostoich, Maria Federica Carboni, Alison Destoc, Ayşegül GUNDUZ, PhD, Maddy Daogaru, Edward Emmanuel, BetaGlue Technologies, Colin Story

We're delighted to welcome Dr Colin Story to UKI2S as an Advisory Board Member. With over 25 years of industry experience, his input is invaluable to the key decisions that we make. His expertise has been used across the life sciences industry, seeing organisations like OrganOx take their class III medical device from prototype to successful completion of human trials, and raising £25 million as co-founder for OxSonics Therapeutics, resulting in successful transition of their idea into clinical use. Dr Story’s other key roles include his management of a £20 million product portfolio at GE HealthCare, his role as Non-Executive Director of HOX Therapeutics Ltd, and his position of CEO and board director of BetaGlue Technologies. 👇 https://lnkd.in/eH_7s82G #Investment #VentureCapital