Alume Biosciences, Inc. has received $13 million in funding in a Series B round Alume Biosciences. Inc was launched in 2017 with a focus on nerve-targeted diagnostics and therapeutics.
The funding will be used by the company to advance its product, Bevonescein (ALM-488) which has reached phase 3 in clinical trials as per Alume's website.
Image from alumebiosciences website
Quyen Nguyen the founder and current CEO of Alume Bioscience Inc. is an MD and surgeon. Alume was initially a collaboration between Nguyen and the late professor Roger Tsien in 2003. The founder has given a Ted Talk in 2011 on the importance and application of highlighting nerves during surgery.
ALM-488 is a proprietary fluorescent peptide-dye conjugate that will connect to the nerve and illuminate it in real time which is expected to assist doctors during surgery. Along with highlighting nerves by binding to them, ALM-488 highlights damaged nerves during procedures of reconstruction and will have application in critical areas like the skull, neck, and spinal cord.
Alume Biosciences is a late-stage clinical biotechnology company that develops nerve specific targeting molecules. Along with ALM-488, Alume is developing other specific agents for diagnostic and therapeutic indications as per their website.
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