CarThera, a French company that designs and develops innovative ultrasound-based medical devices to treat brain disorders, today announces that it has been selected by the EIC Accelerator Pilot to receive a €2m grant and €10.5m in equity for the development of its DOMEUS project for the treatment of glioblastoma (GBM) patients.
The company will also receive business coaching and mentoring to accompany its growth.
CarThera
CarThera to receive €2m grant and €10.5m equity from EIC
The DOMEUS project comes at a pivotal moment, as the company is gathering data from its international (American/French), multicentre, pilot clinical study with the larger version of its device, the SonoCloud-9. With the DOMEUS project, CarThera will be able to scale-up its processes and organizational structure to bring its technology to an increasing number of patients around the world. It will also extend the functionalities of its SonoCloud device, staying one step ahead of the market.
The successful completion of this project will transform CarThera from a clinical-stage to a commercial-stage company, leading the market in ultrasound-mediated drug delivery devices for brain diseases.
CEO Frederic Sottilini said: “The fact that the European Union has selected CarThera is a strong testament to the quality of the company’s technology and the sustainability of its development project. The EIC grant will be a powerful financial tool for CarThera to keep apace in its developments and get to market quickly.”
Chief Clinical Officer Carole Desseaux added: “Following ten years of research and development in collaboration with renowned academic research laboratories and clinicians, the SonoCloud is now ready for large-scale clinical deployment.”
The next round of funding is planned for early 2021. This Series C financing will be used for the future development stages of the SonoCloud device in Europe and the US up to market authorizations and the preparation of its commercial launch.