Alpha Source Inc., an early stage biomedical company based in Westwood, has raised $41 million from investors, according to an Oct. 24 securities filing.
The developer of radioisotopes, also doing business as Alpha Isotopes, raised $41,464,543 during a seed round from 11 investors, according to a filing to the U.S. Securities and Exchange Commission.
Alpha Source launched as a limited liability corporation in 2007, was incorporated two years ago, according to the California Secretary of State.
It is now led by Dr. Howard Lewin, a cardiologist affiliated with Cedars-Sinai Medical Center and Ronald Reagan UCLA Medical Center.
The company has patented a new technology to create a range of radioisotopes to be used in medicine, Lewin said on his LinkedIn page.
Alpha Source can either make them at less cost than those currently being produced, he said. Or the company can create new radioisotopes once too costly to make that will expand the market and help develop radiopharmaceuticals for personalized cancer therapies.
Health business reporter Dana Bartholomew can be reached at email@example.com. Follow him on Twitter @_DanaBart.