AdvanCell, a clinical-stage radiopharmaceutical company based in Sydney, has just completed an oversubscribed Series C financing round worth $112 million. Such a huge amount of investment demonstrates the increasing trust in AdvanCell’s novel approach to creating targeted alpha therapies for cancer patients.

AdvanCell was established in June 2019 and rapidly became a front-runner in radiopharmaceuticals. Its focus is on developing targeted alpha therapies for cancers. The company, founded to change cancer treatment, utilizes the power of radionuclide therapies. 

From inception, AdvanCell has grown to a global team of 60 professionals and built a state-of-the-art 40,000 square foot manufacturing facility. The firm has world-class pre-clinical infrastructure and a deepening pipeline of assets focused on addressing unmet medical needs in oncology. 

The group of experts from the field of radiopharmaceuticals and oncology created AdvanCell. The aim of the project is to offer innovative targeted alpha therapies for a more effective and personalized cancer treatment. 

The core team consists of seasoned professionals, each with multiple years of drug development, clinical research, and pharmaceutical manufacturing expertise. Their professional guidance has made AdvanCell a rapidly developing success in cancer therapeutics competition.

Funding Details

The $112 million Series C financing round was co-led by leading investors SV Health Investors, Sanofi Ventures, Abingworth, and SymBiosis.

Additional support came from existing investor Morningside, alongside new investors Tenmile, Brandon Capital, and others. The oversubscription of this funding round reflects the strong interest and confidence in AdvanCell’s innovative approach to cancer treatment. 

As part of the funding, Jamil M. Beg from SV Health Investors, Christopher Gagliardi from Sanofi Ventures, and Bali Muralidhar from Abingworth have been appointed to AdvanCell’s Board of Directors. These individuals bring valuable industry expertise to support the company’s growth. 

Multiple strategic initiatives are expected to be funded with the newly acquired funds:

• Increasing Manufacturing Capacity: Enhance the manufacturing capability of the company to accommodate the expected demand of its radiopharmaceuticals.
• Rapid Clinical Development: Accelerate clinical trials for its pipeline of radionuclide therapies, such as ADVC001 for metastatic prostate cancer, in its Phase I/II dose escalation clinical trial.
• Research and Development: Further investments in developing new therapeutic candidates as well as research into further potential applications of targeted alpha therapies.

Such moves support the purpose of AdvanCell to present patients around the world with groundbreaking, innovative and efficient treatments against cancer.

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Lead Product Candidates under Development

The company is advancing novel targeted alpha therapies that deploy alpha-emitting radionuclides to kill cancer cells directly, leaving less damage to the surrounding healthy tissue. Currently, its lead product candidate ADVC001 is undergoing a Phase I/II clinical trial in patients with metastatic prostate cancer.

This treatment employs Pb-212-based radionuclide therapy, which has the promise of specifically attacking and killing cancer cells. Besides, AdvanCell is working on further applying its technology to gastroenteropancreatic neuroendocrine tumors, as well as other cancers. 

 Strategic Alliances and Collaborations AdvanCell developed strategic collaborations with leading pharmaceutical enterprises and research organisations to drive ahead its therapeutic programs and broaden capabilities in its core technologies. 

Aims to focus on collaborative skill and resource areas to fast-forward the development cycle and launch phase of new novel cancer drugs under development. Added industry leaders from the board provide further reinforcement towards the network structure and strategy within the company

The size of the global radiopharmaceuticals market is growing rapidly with increasing advancements in the targeted therapies and high prevalence of cancer.

Advancing competitive advantage

AdvanCell focuses on targeted alpha therapies for taking benefits in this direction with treatments designed for precision targeting of cancer cells with fewer adverse effects.

This gives AdvanCell a strong push forward in developing its clinical programs, increasing manufacturing capabilities, and getting its novel therapies to market.

The focus of the company on unmet medical needs in oncology could position it as a significant contributor to the meaningful change in the treatment of cancer and outcomes in patients.

Source: Businesswire