LA JOLLA, Calif., Jan. 10, 2023 Alume Biosciences, Inc. has raised USD 13 million in Series B funding to push Bevonescein (ALM-488), its flagship product, through Phase 3 clinical trials. Alume, a pioneer in nerve-targeted diagnostics and therapies, stated in August 2022 that the first patient in a Phase 3 pivotal study using ALM-488 for intra-operative nerve imaging in head and neck surgery has been dosed (NCT05377554). ALM-488 is a peptide-dye combination that uses fluorescence to show nerves in real-time during surgery. The pivotal Phase 3 investigations are now ongoing at significant university hospitals across the United States.

With funds raised in an earlier Series A financing and additional non-dilutive funding received through grants, the Company has raised more than USD 30 million to fund the clinical development program for its lead candidate, advance its development portfolio, and support potential regulatory filings.

“This is a significant achievement for Alume. This grant gets us one step closer to enhancing intraoperative nerve imaging for surgical patients and allowing Precision SurgeryTM, “Alume’s Board of Directors member Magda Marquet stated.

About ALM – 

Concerning ALM-488, ALM-488 is a patented fluorescent peptide-dye combination that may be viewed using fluorescently capable apparatus such as filter-modified loupe systems, portable handheld devices, microscopes, and laparoscopes. ALM-488 binds to the extracellular neuron matrix, enabling real-time nerve lighting during surgery. Because of its unique binding qualities independent of myelin, an insulating covering around nerves, ALM-488 is likely to have extensive surgical applicability. This enables ALM-488 to highlight various nerve types, including motor, sensory, and autonomic. Degenerated nerves, vital during reconstructive surgeries, are also identified with ALM-488.

Treatments in the skull base, head and neck, and spine, as well as nerve-sparing prostatectomy, are procedures that might endanger nerves. In vivo investigations further show that ALM-488 has acceptable pharmacokinetic properties to warrant therapeutic application for ureter labeling in urology, gynecology, and lower abdominal surgical purposes. 

About Alume Biosciences:

Alume Biosciences is a clinical-stage biotechnology business that creates nerve-specific targeted agents. Alume is also developing new nerve-specific medicines for diagnostic and therapeutic applications in addition to ALM-488. The firm was established in 2017 and is based at the Johnson & Johnson Innovation incubator JLABS @ San Diego.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

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