Alessa Therapeutics Secures $15M in Seed Financing to Advance Innovative Localized Drug Delivery Technology for Prostate Cancer Treatment
Alessa Therapeutics, a clinical-stage drug development company, has recently secured significant funding to advance its innovative localized drug delivery technology for the early interception of cancer and other diseases. The company, founded by Dr. Pamela Munster, a leading oncologist at UCSF, focuses on developing selective and sustained localized drug delivery strategies, particularly for the treatment of prostate cancer and other solid organ diseases.
The funding, a $15 million seed financing, was led by Mission BioCapital and joined by Johnson & Johnson through its corporate venture capital organization, Johnson & Johnson Innovation – JJDC, Inc. (JJDC). This investment underscores the confidence of leading life science industry investors in Alessa Therapeutics’ proprietary technology and its potential to revolutionize the treatment of prostate cancer and other diseases.
Alessa Therapeutics’ approach involves the development of drug-eluting implants that can deliver anti-androgen drugs directly to the tumor in the prostate in a sustained manner, minimizing systemic exposure and the associated side effects. This localized drug delivery technology addresses a critical need in the treatment of prostate cancer, where current therapies often have adverse event profiles that limit their use in patients with localized low-risk disease.
The company’s lead program, Enolen, is a novel enzalutamide-eluting seed implant designed for the treatment of localized prostate cancer. Alessa Therapeutics has initiated a first-in-human trial with Enolen in collaboration with the National Cancer Institute (NCI), with initial data expected to be released next year. This program builds on the successful proof of concept demonstrated by Biolen, which was presented at the 39th Annual EAU Congress (EAU24) in Paris, France, and at the AUA Annual Meeting in San Antonio, TX.
Prostate cancer is the most common cancer among men in the United States, with an estimated 299,010 men diagnosed in 2024 alone. Patients with low-risk prostate cancer face challenging treatment decisions, often choosing between invasive surgical and ablative procedures or active surveillance. Alessa Therapeutics’ localized drug delivery technology offers a promising alternative, providing therapeutic concentrations of anti-androgen drugs directly to the prostate while minimizing systemic side effects.
The funding from Mission BioCapital and Johnson & Johnson Innovation will enable Alessa Therapeutics to advance the development of its lead program and leverage its platform of tissue-targeted drug delivery for the treatment of prostate cancer and other solid organ diseases. Dr. Pamela Munster, Founder and Chief Executive Officer of Alessa Therapeutics, expressed appreciation for the support provided by the syndicate of leading life science industry investors, stating that the funding will allow the company to pursue its mission and bring new medicines to patients who desperately need more effective treatments.
Alessa Therapeutics is a privately held company based on technology developed at UCSF and is financed by Mission BioCapital. The company’s innovative approach to localized drug delivery has the potential to transform the treatment landscape for prostate cancer and other diseases, offering patients more effective and tolerable treatment options. With the support of leading investors, Alessa Therapeutics is well-positioned to advance its pipeline and make a significant impact in the field of oncology.