Fukushima SiC Applied Engineering, a technology company, developing Boron Neutron Capture Therapy (BNCT) radiotherapy solutions, has raised $30m in Series C funding.
The round was joined by investors such as C:iz Investment, Japan Post Investment, Astellas Venture Management and SMBC Venture Capital.
The company plans to use the fund to support BNCT-related pre-clinical and clinical trial activities in Japan.
Additionally, the company will use the fund to accelerate its overseas activities, including efforts for regulatory approvals.
Fukushima SiC Applied Engineering developed an ultra-compact, multi-port neutron radiation cancer treatment system, using its proprietary SiC device technologies.
The system is more compact and cheaper compared to current BNCT systems.
BNCT is a type of radiotherapy used for the treatment of cancer. The method uses a boron agent, which reacts with neutrons, and is accumulated by the tumour cells.
The tumour cells are selectively destroyed in the process, using the reaction between neutrons in a neutron beam and the accumulated boron.
Fukushima SiC Applied Engineering’s system has unique capabilities in targeting deep-seated cancers and metastatic micro tumours. It also has the ability to destroy tumour cells equivalent to heavy particle beam therapy.
Previously, these types of cancer were difficult to treat.
The technology development is partly funded by the Ministry of Economy, Trade and Industry subsidy programme for areas, recovering from the 2011 tsunami and nuclear disasters.
Fukushima SiC Applied Engineering focuses on the development and manufacturing of power electronics products, using SiC semiconductors, with the aim of contributing to the recovery from the earthquake.