Exclusive: Sonire Therapeutics raises $18M Series A for pancreatic cancer treatment
Illustration: Tiffany Herring/Axios
Sonire Therapeutics, a pancreatic cancer treatment device developer, raised an $18 million Series A, CEO Tohru Satoh exclusively tells Axios Pro.
Why it matters: The company says early data indicates the device can delay the progression of pancreatic cancer — one of the deadliest cancers, with few effective treatments.
Follow the money: Santé Ventures led, joined by Fast Track Initiative, Japan Growth Capital (Nomura Sparx investment) and SBI Investment.
- Sonire now has runway through the end of 2027, Satoh says.
What's next: The company plans to start raising a Series B in the first half of 2027, but Satoh declined to disclose planned size.
How it works: Founded in 2020, Palo Alto-based Sonire is developing a high-intensity focused ultrasound (HIFU) device for precise thermal destruction of pancreatic cancer tumors.
- Unlike conventional HIFU systems, Sonire says its device provides clear visualization of the treatment site during therapy, requires no anesthesia and can be administered in outpatient settings by just one physician in about 20 minutes.
- It holds 25 patents and can be used alongside chemotherapy.
Zoom in: The device, which has been granted Breakthrough Device Designation by the FDA, is currently being tested in Japan. Top-line survival data is expected in 2027.
- Series A proceeds will help pay to complete the Japanese trial and launch additional trials in the U.S. later this year.
What they're saying: "After receiving our treatment, some patients can receive surgery," Satoh says.
- "If a patient can receive surgery, their fate will be changed dramatically."
The big picture: Pancreatic cancer has a five-year survival rate of only 13%, per the Pancreatic Cancer Action Network, as treatments are limited.
- A major challenge to treating pancreatic cancer is "the delicate structures and blood vessels that are in and around the pancreas (and) make it really difficult to resect or target tumors around there," says Dennis McWilliams, the managing director of Santé, which closed a $330 million new health care and biotech fund in February.
Zoom out: Several companies are advancing pancreatic cancer treatment, with promising results attracting investor attention.
- Revolution Medicines said Monday that Phase 3 trial results for its pill, daraxonrasib, showed patients lived nearly twice as long as those who received chemotherapy.
- Meanwhile, HistoSonics, a Minneapolis histotripsy therapy company also using next-generation ultrasound to treat tumors, sold a majority stake in August at a $2.25 billion valuation and raised $250 million in October at a $3 billion valuation.
The intrigue: "If you look at the rumored corporate interest in M&A around Histosonics, it's one of the longest lists you'll see in medtech," McWilliams says.
- "It's a super exciting time within this space."
