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Venture Capital News: Alume Biosciences Secures $13M Series B Round

2023-01-10
LA JOLLA, CA, Alume Biosciences has secured $13 million in Series B financing to advance its lead candidate, Bevonescein (ALM-488), in Phase 3 clinical trials.
Alume, a leader in the field of nerve-targeted diagnostics and therapeutics, announced in August, 2022 that the first patient had been dosed in a Phase 3 pivotal study of ALM-488 for intra-operative visualization of nerves in head and neck surgery (NCT05377554). ALM-488 is a peptide-dye conjugate designed to highlight nerves with fluorescence in real-time during surgery. The Phase 3 pivotal studies are underway at major academic hospitals across the U.S.

Alume Biosciences is a late-stage clinical biotechnology company developing nerve specific targeting molecules. In addition to ALM-488, Alume is developing other nerve specific agents for diagnostic and therapeutic indications. The company was founded in 2017 and is headquartered in the Johnson & Johnson Innovation incubator JLABS @ San Diego.
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