Rakuten Medical closed a $100 million financing round to support its photoimmunotherapy platform and an ongoing Phase III trial, with company statements indicating a targeted regulatory filing around 2028. The funding combines new capital and convertible instruments to sustain late‑stage development and commercial planning. Rakuten and investors said the proceeds will accelerate trial enrollment, manufacturing scale-up and regulatory interactions with the FDA. The financing underscores sustained investor appetite for modality‑specific oncology platforms that pair light‑activated therapies with immunomodulation. The company flagged next regulatory milestones and reiterated commitments to complete pivotal data collection ahead of a planned submission timeline.