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Terapet raises CHF 2.3 million for its next-generation cancer treatment technology

Life sciences

27 February 2023

Geneva-based medtech Terapet has announced the closing of its first Pre-Series A investment round in the amount of CHF 2.3 million.

Terapet is a CERN start-up that works on improving a breakthrough proton therapy for cancer treatment. The Geneva-based start-up’s proton therapy is an advanced form of radiotherapy for cancer treatment that can target tumors with extreme precision, leaving healthy cells near the tumor unharmed. Terapet’s novel technology has the potential to make nuclear medicine imaging more accessible for every patient in the future.

Qualγscan, the company’s first product, is a novel proton therapy quality assurance device that will provide a way of assessing the real-time dose distribution for the first time. The device will be validated with clinical partners at the Karolinska Institute and Skandion Clinic. In the coming years, the same technology will enable medical doctors to monitor the delivered dose inside the patients during cancer treatment in-vivo, non-invasively, in 3D, and real-time.

Dr. Christina Vallgren, CEO of Terapet, said, “With our solution, we will eliminate one of the biggest obstacles to particle therapy: ensuring that every patient receives the right dose, every time. We look forward to showcasing our first product to the particle therapy community at this year’s PTCOG in Madrid. This funding is essential to support the marketing and sales campaign for Qualγscan.”

The funding round was co-led by EFI Lake Geneva Ventures and Nina Capital, with the support of all existing shareholders, including Fongit, Venturekick, and the founders. Terapet also welcomes Giovanni Leo from EFI Lake Geneva Ventures and Sebastian Anastassiou from Nina Capital to its Board of Directors.

“I am thrilled to join the board of Terapet and contribute to the development of the next generation of nuclear imaging products. As a MedTech professional, I have long been passionate about the potential of medical imaging to improve patient outcomes and I believe that Terapet is uniquely positioned to lead the way in this space. I look forward to working alongside the talented team at Terapet to help drive innovation, enhance our technology, and ultimately, make a meaningful impact on the healthcare industry”, said Giovanni Leo, partner at EFI Lake Geneva Ventures.

Sebastian Anastassiou, principal from Nina Capital and a new board member, said, “I am excited to continue supporting Terapet towards realizing their vision of drastically improving patient outcomes by developing the future of nuclear imaging. With solid technology foundations out of CERN and a stellar team, we have all the right ingredients to work together towards true healthcare impact.”