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Share this article Share this article SAN MATEO, Calif., July 28, 2021 /PRNewswire/  Rakuten Medical, Inc., a global clinical stage biotechnology company focused on developing and commercializing innovative oncology products for multiple indications, today announced the completion of a $166 million Series D preferred stock financing, including $75 million in new capital and the conversion of $91 million of convertible promissory notes, including accrued interest.  The round was led by General Catalyst with additional participation from existing investors, including Rakuten Group and SBI Group. Rakuten Medical s lead drug, ASP-1929, achieved approval in Japan for unresectable locally advanced or locally recurrent head and neck cancer in September 2020.  The company is continuing to develop additional therapies on its Illuminox™ platform for a range of oncological indications.

New yorkUnited statesPalo altoSan franciscoPaul kwanMickey mikitaniJapanese ministry of healthNational cancer instituteRakuten groupRakuten medical incRakuten medicalGeneral catalystChief executive officerManaging directorMomentum capital marketsJapanese ministry