11.30.2022
SONIRE Therapeutics (Head Office: Shinjuku-ku, Tokyo; President and CEO: Tohru Satoh; hereinafter referred to as ‘SONIRE’) raises 2.35B JPY in Series B financing through a third- party allotment to existing shareholders and new investors for a randomized controlled trial and commercialization of the next-generation, High-Intensity Focused Ultrasound (HIFU) system (Development code: Suizenji) for the treatment of pancreatic cancer. This brings the total amount raised by SONIRE to approximately 3.1B JPY (including grants). Fast Track Initiative (hereinafter referred to as ‘FTI’) member, Hiroko Kimura has been appointed as an External BoD since Series A.
HIFU therapy is anticipated as a new cancer treatment because it is non-invasive with no risk of radiation, so patients can safely receive treatment repeatedly. HIFU is currently being used in Japan to treat diseases where treatment methods are limited such as prostate enlargement (Benign prostatic hyperplasia), Parkinson’s Disease, and Essential tremors. SONIRE is now working to apply HIFU to oncology.
SONIRE has been developing the next-generation HIFU treatment system as a new therapeutic modality for intractable cancers. Its novel technology uses a proprietary irradiation system, an ultrasound guidance system, and a robotic guidance system to monitor the affected area and uses HIFU to heat and destroy the cancer. This treatment system uses captivation bubbles to expedite treatment and also to provide a secure the field of view during treatment for enhanced visualization. It utilizes the absorption of ultrasound energy from the cavitation bubbles generated by ultrasonic pressure to enhance the heating effect, allowing for quicker treatment. The robotic guidance system provides high precision and intuitive positioning, allowing for treatments to be accurately performed.
The company began with clinical research on pancreatic cancer in collaboration with Tokyo Medical University, Tokyo Women’s Medical University, and Tohoku University. Through 5 cases of clinical trials and 12 clinical research cases, SONIRE is aiming to achieve commercialization in the oncology field within the next few years.
“I am deeply grateful to all of the investors who supported us again in this round after supporting Series A last year, and to the new investors who joined this funding round out of their belief in our vision. The funding raised in this round will be allocated to expanding our business, including pancreatic cancer clinical trials in Japan and overseas expansion. Our vision at SONIRE is to bring a new future to cancer patients using sonic technology, and we will spare no effort in making that vision a reality as soon as we possibly can.”
— Mr. Tohru Satoh, President and CEO of SONIRE Therapeutics
New Investors: NISSAY CAPITAL, Japan Growth Capital Investment Corp., Daiwa Corporate Investment, Resona Capital, Carbon Ventures, QR Investment, and JA MITSUI LEASING
Existing Shareholders: Fast Track Initiative (FTI), SBI Investment, Mitsubishi UFJ Capital, FFG Venture Business Partners, and Higin Capital
Additional Comments from investors:
“We made an additional investment in this round after investing in Series A last year in 2021. Since its establishment, SONIRE has, in pursuit of its vision, made definitive progress in laying the groundwork for device development and clinical development. Moving forward, they will proceed with building their operations in preparation for clinical trials, government approval and medical sales. We sincerely anticipate that this revolutionary medical device developed in Japan, will be used to treat patients all over the world. As a venture capital firm striving for ‘Capital For Life’, Fast Track Initiative will continue to support SONIRE.”
— Dr. Hiroko Kimura, Principal of FTI
“We have invested in SONIRE because the HIFU treatment device they are developing has the potential to provide a new treatment option for patients with intractable cancers. We are happy to join CEO Sato and his team of specialists as they continue to break new ground. By making this revolutionary technology available for the treatment of pancreatic cancer and other intractable cancers as quickly as possible, we anticipate that they will make a major contribution to society.”
— Mr. Junichi Imoto of NISSAY CAPITAL
“NSPI looks forward to SONIRE achieving medium-term growth as it allocates capital efficiently to establish HIFU as a treatment for intractable pancreatic cancer globally, as well as using HIFU therapy in the treatment of other types of cancers.”
–Mr. Ichitaro Akita of Nomura SPARX Investment (Nomura SPARX Investment, Inc. is an asset management company of Japan Growth Capital Investment Corporation.)
To view the original press release, go to https://www.sonire-therapeutics.com/en/sonire- therapeutics-announces-jpy2-35-billion-series-b-financing/
About SONIRE Therapeutics: SONIRE was established in February 2020 to develop the next-generation High-Intensity Focused Ultrasound (HIFU) system using the technology and clinical know-how has been built by Tokyo Women’s Medical University, Tohoku University and Tokyo Medical University over the past years. HIFU therapy is expected as a new cancer treatment because it is non-invasive with no risk of radiation, so patients can receive the treatment repeatedly. SONIRE has developed the HIFU therapy system as a new treatment modality targeting intractable cancers such as pancreatic cancer. Visit our homepage here: https://www.sonire-therapeutics.com/en/
About Fast Track Initiative: Established in 2004, Fast Track Initiative, Inc. (FTI) is a life science venture capital firm, focusing its investments on grow seed and early-stage startups with a strong focus on biotech and therapeutics. FTI has a strict mission to make a ground-breaking impact on the quality of our life and human wellness through investments across a broad range of areas in the life science community including diagnostics, digital health, healthcare services, and more. The company provides full, hands-on operational support to its 30+ portfolio companies through business and R&D strategy, investor syndication, and more, including access to their exclusive network of leading industry professionals in Japan. Visit https://us.fasttrackinitiative.com for more details, or follow us on LinkedIn: https://www.linkedin.com/company/fast-track-initiative/. For press inquiries or investor inquiries, please email: message.us@fasttrackinitiative.com
