SONIRE Therapeutics Announces JPY2.35 billion Series B Financing

SONIRE Therapeutics Inc. (Head Office: Shinjuku-ku, Tokyo. President and CEO: Tohru Satoh) announced today that it has raised JPY2.35 billion in Series B financing through a third-party allotment to existing shareholders and new investors for a randomized controlled trial and commercialization of the next-generation HIFU (High-Intensity Focused Ultrasound) system (development code: Suizenji) for the treatment of unresectable pancreatic cancer. This brings the total amount raised by SONIRE to approximately JPY3.1 billion.

List of investors in this round (in no particular order)

New investor:NISSAY CAPITAL CO., LTD.,  Japan Growth Capital Investment Corporation, Daiwa Corporate Investment Co.,Ltd., Resona Capital Co., Ltd., Carbon Ventures Co., Ltd. / QR Investment Co., Ltd., JA MITSUI LEASING, LTD.

Existing Shareholders:Fast Track Initiative, Inc., SBI Investment Co., Ltd., Mitsubishi UFJ Capital Co., Ltd., FFG Venture Business Partners Co., Ltd., Higin Capital Co., Ltd.

【Comment from Mr. Tohru Satoh, President and CEO of SONIRE Therapeutics Inc.】
I am deeply grateful to all the investors who supported us again in this round after supporting Series A last year, and to the new investors who joined this funding round out of their belief in our vision. The funding raised in this round will be allocated to expanding our business, including pancreatic cancer clinical trials in Japan and overseas expansion. Our vision at SONIRE is to bring a new future to cancer patients using sonic technology, and we will spare no effort in making that vision a reality as soon as we possibly can.

【Comment from Dr. Hiroko Kimura of Fast Track Initiative, Inc. 】
We made an additional investment in this round after investing in Series A last year. Since its establishment, SONIRE has, in pursuit of its vision, made definitive progress in laying the groundwork for device development and clinical development. Going forward, they will move ahead with building their operations in preparation for clinical trials, approval and sale. We sincerely anticipate that this revolutionary medical device, developed in Japan, will be used to treat patients all over the world. As a venture capital firm striving for Capital For Life, Fast Track Initiative will continue to support SONIRE.

【Comment from Mr. Junichi Imoto of NISSAY CAPITAL CO., LTD.】
We have invested in SONIRE because the HIFU treatment device they are developing has the potential to provide a new treatment option for patients with intractable cancers. We are happy to join CEO Satoh and his team of specialists as they continue to break new ground. By making this revolutionary technology available for the treatment of pancreatic cancer and other intractable cancers as quickly as possible, we expect that they will make a major contribution to society.

【Comment from Mr. Ichitaro Akita of Nomura SPARX Investment, Inc.
NSPI looks forward to SONIRE achieving medium-term growth as it allocates capital efficiently to establish HIFU as a treatment for intractable pancreatic cancer globally, as well as using HIFU therapy in the treatment of other types of cancers.

(Nomura SPARX Investment, Inc. is an asset management company of Japan Growth Capital Investment Corporation.)

About SONIRE Therapeutics Inc.
SONIRE was established in February 2020 to develop the next-generation HIFU (High-Intensity Focused Ultrasound) system using the technology and clinical know-how has been built by Tokyo Women’s Medical University, Tohoku University and Tokyo Medical University over the past years. HIFU therapy is expected as a new cancer treatment because it is non-invasive and no radiation risk, so patients can receive the treatment repeatedly. SONIRE has developed the HIFU therapy system as a new treatment modality targeting at intractable cancers like pancreatic cancer. You can see details through our homepage below.