Rakuten Medical Completes $100 Million Series F Financing | Exclusive Report by 36Kr
I. Rakuten Medical, a Leading Company in Photoimmunotherapy, Completes $100 Million Series F Financing to Accelerate Global Clinical and Commercialization Layout
Recently, Rakuten Medical, a globally leading photoimmunotherapy company, officially announced the completion of a $100 million Series F financing. This round of financing was co-led by Taishan Investment and the TaiAx Fund under Japan's Axil Capital, with participation from multiple well - known institutional and individual investors. The funds obtained will be fully used for the advancement of the global multi - center Phase III clinical trials of the core product ASP - 1929 (Akalux®), the expansion of indications for multiple cancer types, the optimization and upgrading of medical devices, and commercialization preparations, accelerating the global market launch process of this disruptive therapy.
As an important participant in this round of financing, the investors said that they highly recognized Rakuten Medical's original technological barriers in the photoimmunotherapy field, its clear clinical development path, and the huge unmet medical needs. With the innovative mechanism of "targeted drug + precise light treatment", Rakuten Medical breaks the limitations of traditional tumor treatment and provides safer, more effective, and minimally invasive treatment options for advanced cancer patients, showing the potential to become the global new - generation standard for tumor treatment.
II. Originating from "The Struggle Against Cancer": Hiroshi Mikitani's Decade - long Efforts to Build the World's First Photoimmunotherapy Technology Platform
The establishment of Rakuten Medical stems from the profound insight and firm original intention of its founder, Hiroshi Mikitani, towards cancer treatment. Due to the death of his family member from cancer, Mikitani was determined to use technological innovation to tackle the tumor problem. With the belief of "revenge against cancer", he invested billions of dollars to establish a globally leading photoimmunotherapy R & D system.
The company's self - developed Alluminox™ photoimmunotherapy platform is a revolutionary technology that combines antibody - targeted therapy with precise activation by near - infrared light for the first time in the world. By specifically delivering photosensitive drugs to tumor cells through specific antibodies and then locally irradiating them with low - dose near - infrared light, it achieves the dual effects of precisely killing tumor cells and activating the whole - body anti - tumor immunity, with unique advantages such as high precision, few side effects, wide applicability to cancer types, and repeatable treatment.
III. Remarkable Clinical Results: The Indication for Head and Neck Cancer has been Approved in Japan, and the Global Pipeline for Multiple Cancer Types is Fully Advancing
Currently, Rakuten Medical's first product, ASP - 1929 (Akalux®), has been approved in Japan for the treatment of recurrent/metastatic head and neck cancer, becoming the world's first photoimmunotherapy drug approved for clinical use. Clinical data shows that the objective response rate (ORR) of this therapy in advanced head and neck cancer patients is as high as 68%, significantly improving the patients' quality of life and survival time.
Based on the verified technology platform, the company is rapidly advancing clinical research on high - incidence cancer types such as esophageal cancer, gastric cancer, lung cancer, breast cancer, cervical cancer, and pancreatic cancer, and is simultaneously developing a new generation of photoimmunotherapy drugs, intelligent light - irradiation devices, and combination treatment regimens to build a global precision tumor treatment ecosystem covering "drug - device - diagnosis and treatment integration".
IV. Global System Takes Shape: Collaborative R & D in China, the United States, and Japan, Aiming to Enter the US Market in 2028
After this round of financing, Rakuten Medical will further strengthen the collaborative R & D and clinical operation system among Japan, the United States, and China, accelerate the completion of the global Phase III registration clinical research, and aim to submit a Biologics License Application (BLA) to the US FDA in 2028, bringing new treatment options to global cancer patients.
The company said that in the future, it will continue to adhere to the concept of science - based and patient - first, continue to deeply explore the field of photoimmunotherapy, promote this disruptive technology from the laboratory to global clinics, and redefine the future of tumor treatment with the power of technology.
Appendix: Introduction to DNA Fund
DNA Fund focuses on investing in projects and companies representing future consumption and technology trends. Wang Junjie, the founding partner, is also an individual investor in Rakuten Medical.