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Israel's Alpha Tau secures $29M in financing for cancer treatment

Alpha Tau Medical Ltd., a privately held cancer therapy developer in Israel, secured $29 million in a funding round led by Shavit Capital.

Participants of the funding round also include equity crowdfunding platform, Medison Ltd.'s venture capital arm Medison Ventures, and private equity investors Ronald Cohen and Alan Patricof, founders of Apax Partners.

"The funding will be invaluable to explore the full potential of the Alpha DaRT as a cancer treatment for clinical trials worldwide," Alpha Tau CEO Uzi Sofer said in a news release.

Alpha DaRT is the company's radiation-based cancer treatment. Alpha Tau is evaluating the technology in patients with pancreatic cancer, breast cancer, gynecological cancer, prostate cancer as well as head and neck cancer.