Australian radiopharma play Advancell taps VCs for $112M in ‘scale capital’

A venture syndicate has backed Australian radiopharmaceuticals company Advancell with a $112 million series C round that is designed to scale the company and build its manufacturing footprint while advancing its clinical pipeline of α-emitting therapeutics.

Advancell Pty. Ltd. is conducting Phase I/II testing of its lead program, a lead-212-emitting therapy targeting PSMA to treat prostate cancer. The Sydney-based company also has a platform with which it can manufacture doses of the lead-212 isotope, either for its own therapies or potentially as a partner for other biopharmas, according to Jamil Beg of co-lead investor SV Health Investors...