JERUSALEM, Jan. 20, 2022 /PRNewswire/ -- Alpha Tau
Medical Ltd. ("Alpha Tau"), the developer of the innovative
alpha-radiation cancer therapy Alpha DaRT™, announced today that it
has signed a sponsored research agreement with investigators at The
University of Texas MD Anderson Cancer
Center ("MD Anderson") to evaluate potential immune stimulation by
combining Alpha DaRT™ with DNA-repair inhibitors and immune
checkpoint inhibitors for the treatment of breast tumors.
The study will be led by Gabriel Sawakuchi, Ph.D., Associate
Professor of Radiation Physics, and Simona
Shaitelman, M.D., Associate Professor of Radiation Oncology
at MD Anderson, together with Alpha Tau's translational research
and physics teams. The research will focus on the mechanism of
alpha radiation, with its higher relative efficiency in killing
cancer cells, in comparison to traditional radiation modalities
such as protons and photons, to assess any potential synergy in
providing immune stimulation for enhanced destruction of breast
cancer cells. The investigators will examine whether such a synergy
exists between Alpha DaRT, immune checkpoint inhibitors, and
biological treatments that inhibit DNA repair in a pre-clinical
setting.
Alpha Tau CTO Ronen Segal said,
"This is an extremely exciting collaboration for Alpha Tau. We are
delighted to work with such an extraordinary team to examine a very
promising hypothesis: that Alpha DaRT may be uniquely well-suited
to treat what has been a particularly deadly and intractable form
of cancer."
About Alpha DaRT
Alpha DaRT (Diffusing Alpha-emitters Radiation Therapy) is designed
to enable highly potent and conformal alpha-irradiation of solid
tumors by intratumoral delivery of radium-224 impregnated sources.
When the radium decays, its short-lived daughters are released from
the source and disperse while emitting high-energy alpha particles
with the goal of destroying the tumor. Since the alpha-emitting
atoms diffuse only a short distance, Alpha DaRT aims to mainly
affect the tumor, and to spare the healthy tissue around it.
About Alpha Tau Medical Ltd.
Founded in 2016, Alpha Tau is an Israeli medical device company
that focuses on research, development, and potential
commercialization of the Alpha DaRT for the treatment of solid
tumors. The technology was initially developed by Prof.
Itzhak Kelson and Prof. Yona Keisari from Tel Aviv
University.
On July 8, 2021, Alpha Tau
announced that it had entered into a definitive merger agreement
(the "Merger Agreement") with Healthcare Capital Corp. (NASDAQ:
HCCC) ("HCCC"), a special purpose acquisition company, pursuant to
which Alpha Tau would consummate a business combination transaction
(the "Business Combination") with HCCC and become a Nasdaq-listed
public company.
Media Package: https://www.alphatau.com/media-package
Additional Information and Where to Find It
For additional information on the Business Combination, see HCCC's
Current Report on Form 8-K, which was filed with the Securities and
Exchange Commission ("SEC") on July 8,
2021.
In connection with the proposed transaction with HCCC, Alpha Tau
has filed a Registration Statement on Form F-4, which includes a
preliminary proxy statement/prospectus of HCCC, which was declared
effective on January 12, 2022. HCCC
will mail a definitive proxy statement/prospectus to its
stockholders relating to the proposed Business Combination.
Investors and security holders of HCCC are advised to read, the
definitive proxy statement in connection with HCCC's solicitation
of proxies for its special meeting of stockholders to be held to
approve the proposed Business Combination because the proxy
statement/prospectus contains important information about the
proposed transaction and the parties to the proposed transaction.
The definitive proxy statement/prospectus will be mailed to
stockholders of HCCC as of January 13,
2022, the record date established for voting on the proposed
Business Combination.
Stockholders may also obtain copies of the Registration
Statement, proxy statement/prospectus, and Form 8-K, without charge
at the SEC's website at www.sec.gov.
No Offer or Solicitation
This announcement is for informational purposes only and is neither
an offer to purchase, nor a solicitation of an offer to sell,
subscribe for or buy any securities or the solicitation of any vote
in any jurisdiction pursuant to the proposed Business Combination
or otherwise, nor shall there be any sale, issuance or transfer or
securities in any jurisdiction in contravention of applicable law.
No offer of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
Participants in the Solicitation
HCCC and Alpha Tau and their respective directors, executive
officers, other members of management, and employees, under SEC
rules, may be deemed to be participants in the solicitation of
proxies of HCCC's stockholders in connection with the proposed
Business Combination between HCCC and Alpha Tau. Investors and
security holders may obtain more detailed information regarding the
names and interests in the proposed transaction of HCCC's directors
and officers HCCC's and Alpha Tau's filings with the SEC, including
the Registration Statement.
Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
When used herein, words including "anticipate," "being," "will,"
"plan," "may," "continue," and similar expressions are intended to
identify forward-looking statements. In addition, any statements or
information that refer to expectations, beliefs, plans,
projections, objectives, performance or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking. All forward-looking statements
are based upon Alpha Tau's and HCCC's current expectations and
various assumptions. Alpha Tau believes there is a reasonable basis
for its expectations and beliefs, but they are inherently
uncertain. Alpha Tau may not realize its expectations, and its
beliefs may not prove correct. Actual results could differ
materially from those described or implied by such forward-looking
statements as a result of various important factors, including,
without limitation: (i) Alpha Tau's ability to receive regulatory
approval for its Alpha DaRT technology or any future products or
product candidates; (ii) Alpha Tau's limited operating history;
(iii) Alpha Tau's incurrence of significant losses to date; (iv)
Alpha Tau's need for additional funding and ability to raise
capital when needed; (v) Alpha Tau's limited experience in medical
device discovery and development; (vi) Alpha Tau's dependence on
the success and commercialization of the Alpha DaRT technology;
(vii) the failure of preliminary data from Alpha Tau's clinical
studies to predict final study results; (viii) failure of Alpha
Tau's early clinical studies or preclinical studies to predict
future clinical studies; (ix) Alpha Tau's ability to enroll
patients in its clinical trials; (x) undesirable side effects
caused by Alpha Tau's Alpha DaRT technology or any future products
or product candidates; (xi) Alpha Tau's exposure to patent
infringement lawsuits; (xii) Alpha Tau's ability to comply with the
extensive regulations applicable to it; (xiii) the occurrence of
any event, change or other circumstances that could give rise to
the termination of the Merger Agreement and the proposed Merger
contemplated thereby; (xiv) the inability to complete the
transactions contemplated by the Merger Agreement due to the
failure to obtain approval of the stockholders of HCCC or other
conditions to closing in the Merger Agreement; (xv) the inability
to meet the aggregate transaction proceeds requirements of the
Merger Agreement due to the inability to consummate the PIPE
Investment or the amount of cash available following any
redemptions by HCCC's stockholders; (xvi) the ability to meet
Nasdaq's listing standards following the consummation of the
transactions contemplated by the Merger Agreement; (xvii) the risk
that the proposed transactions disrupt current plans and operations
of Alpha Tau as a result of the announcement and consummation of
the transaction described herein; (xviii) the ability to recognize
the anticipated benefits of the proposed Merger, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; (xix) costs related to the proposed
Merger; (xx) changes in applicable laws or regulations; (xxi)
impacts from the COVID-19 pandemic; and the other important factors
discussed under the caption "Risk Factors" in Alpha Tau's
Registration Statement on Form F-4 originally filed with the SEC on
August 19, 2021, as amended, and
other filings that Alpha Tau may make with the United States
Securities and Exchange Commission. These and other important
factors could cause actual results to differ materially from those
indicated by the forward-looking statements made in this press
release. Any such forward-looking statements represent management's
estimates as of the date of this press release. While Alpha Tau may elect to update such
forward-looking statements at some point in the future, except as
required by law, it disclaims any obligation to do so, even if
subsequent events cause our views to change. These forward-looking
statements should not be relied upon as representing Alpha Tau's
views as of any date subsequent to the date of this press
release.
Contact:
Amnon Gat
+972-54-9746276
amnong@alphatau.com
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SOURCE Alpha Tau Medical