Alpha Tau Medical and Healthcare Capital Corp. announced the successful completion of their business combination, effective March 8, 2022. This merger will enable Alpha Tau to trade on Nasdaq under the ticker symbols 'DRTS' and 'DRTSW.' The transaction was approved by HCCC stockholders, raising approximately $90 million in gross cash proceeds. Alpha Tau's CEO Uzi Sofer expressed confidence in utilizing these funds to advance their innovative cancer treatment, Alpha DaRT. Advisors included Citigroup and Ladenburg Thalmann, ensuring a smooth transition to public company status.
On January 20, 2022, Alpha Tau Medical announced a sponsored research agreement with MD Anderson Cancer Center to explore the combination of Alpha DaRT with DNA-repair inhibitors and immune checkpoint inhibitors for breast cancer treatment. The study, led by experts from MD Anderson, aims to evaluate the efficacy of alpha radiation compared to traditional methods. CTO Ronen Segal emphasized the collaboration's significance in battling aggressive breast cancer. Alpha DaRT enables targeted radiation while minimizing damage to healthy tissue, enhancing the treatment's potential.
Alpha Tau Medical has completed recruitment for its pivotal clinical trial of Alpha DaRT in Japan, targeting recurrent head and neck cancer patients post-radiotherapy. Preliminary results reported by clinical partner HekaBio are encouraging, aiming for marketing approval via Japan's shonin pathway. CEO Uzi Sofer highlighted the trial as a crucial step toward expanding Alpha DaRT's reach globally, following prior marketing authorization in Israel and plans for a U.S. trial in 2022.
Alpha Tau Medical has enrolled its first patient in a trial combining its Alpha DaRT cancer therapy with pembrolizumab (Keytruda). The clinical study at Hadassah Medical Center aims to treat recurrent unresectable or metastatic squamous cell carcinoma of the head and neck. The trial will evaluate efficacy using RECIST criteria, involving up to 48 patients with an interim analysis after 18. CEO Uzi Sofer emphasizes the potential systemic benefits of combining the therapies, while CMO Dr. Robert Den looks forward to swift data evaluation.
Alpha Tau Medical has completed enrollment for its U.S. pilot trial of the Alpha DaRT cancer therapy aimed at treating skin cancer, reaching this milestone within four months of the first patient recruitment in July 2021. The trial's primary objective was to demonstrate the feasibility of successfully delivering Alpha DaRT, and all patients had successful implantations and removals without serious adverse events. The treatment-related adverse events observed thus far align with previous trials. The next assessment of tumor response will occur three months post-removal. Alpha Tau aims to progress toward a pivotal trial in 2022.
Alpha Tau Medical and Healthcare Capital Corp (HCCC) have announced a definitive agreement for a business combination, anticipated to conclude by the end of 2021. This merger values Alpha Tau at an implied pro forma equity of approximately $1 billion and is expected to provide up to $367 million in gross proceeds. Alpha Tau's innovative Alpha DaRT™ therapy, recently designated as a Breakthrough Device by the FDA, shows significant potential in treating solid tumors with minimal side effects. The combined entity will retain all current Alpha Tau shareholders' equity holdings.
H/Cell Energy Corporation (OTCQB-HCCC) has restructured and changed its name to Vision Hydrogen Corporation, focusing on hydrogen production for clean energy. The company has invested in VoltH2 Holdings AG, developing a 25MW production site in the Netherlands. A 1-for-20 reverse stock split will take effect on October 6, 2020, reducing outstanding shares from 7,951,524 to 397,577, aimed at enhancing market price and facilitating equity financing. The company relocates its headquarters to Jersey City, NJ, while trading will temporarily shift to HCCCD before changing to VIHD.