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Published on June 9, 2026
One of the things we look for in a BTIF portfolio company is a genuinely novel approach to treating brain tumors. Alpheus Medical is one of those companies.
A Different Kind of Treatment
Alpheus is developing a type of drug-led therapy it calls “Porphyrin Metabolite Activation” or, simply “PoMA.”
The approach builds on the FDA-approved drug, 5-aminolevulinic acid (5-ALA) or “the pink drink,” which is already used to cause tumor cells to glow under fluorescent light during neurosurgery, helping surgeons better distinguish cancerous tissue from healthy tissue.
Alpheus’s use of 5-ALA, however, is a potentially new application. The company has found that when the drug is given to a patient, it accumulates preferentially inside tumor cells as a metabolite. Alpheus then uses a novel ultrasound device to non-invasively send energy waves through the skull to activate the metabolite inside the cancerous cells. When activated, the metabolite triggers the release of what scientists call “reactive oxygen species” — highly unstable molecules that damage the internal structures of the tumor cells and cause them to destroy themselves. The body’s immune system then clears up the debris. The ultrasound itself is low-intensity and just serves as the trigger for the metabolite.
What also makes this investigational approach appealing is that Alpheus hopes, if approved, the therapy could possibly prove more convenient for patients’ everyday lives. While patients still undergo standard-of-care surgery as part of their overall care, the PoMA treatment itself does not require additional surgical procedures, continuously wearable devices, or complex imaging or positioning systems. Patients take an oral drug and receive treatment while sitting in a chair, without the need for anesthesia or hospitalization. Because the approach is non-invasive and repeatable, it could offer a way to manage the disease over time with less onerous outpatient visits.
Where Things Stand
BTIF has participated in two rounds of funding for Alpheus. The initial investment supported an early clinical trial in patients with recurrent high-grade gliomas. In addition to demonstrating a favorable safety profile (meaning patients were able to receive the treatment without significant side effects), the study showed meaningful extension in patient survival compared to historical expectation, supporting continued development and evaluation of the therapy in larger trials. Those results allowed Alpheus to raise a $52 million Series B in May 2025 and launch a phase IIb randomized controlled trial in patients with newly diagnosed glioblastoma. In this study, all patients receive the current standard of care and the investigational group receives PoMA therapy in addition to that standard treatment. The goal is to determine whether adding PoMA can improve patient outcomes.
Looking Ahead
Alpheus is currently enrolling patients at multiple clinical sites across the United States. Patients and caregivers interested in learning more about the trial and eligibility can visit BrainCancerTrial.com.