AdvanCell, a clinical-stage radiopharmaceutical company developing innovative cancer treatments, has closed an oversubscribed $112 million Series C financing. The round was co-led by SV Health Investors, Sanofi Ventures, Abingworth and SymBiosis. Additional support was provided by existing investor Morningside, new investors Tenmile and Brandon Capital, and others.
Since its founding in June 2019, AdvanCell has grown from a belief in the potential of targeted alpha therapy to a global organisation with 60 passionate team members, a 40,000 square foot manufacturing facility, world-class preclinical infrastructure, a drug, currently in trial and potentially the best in its class, for prostate cancer, and a deep asset pipeline under development.
This investment will enable AdvanCell to increase its manufacturing capacity, accelerate the clinical development of its portfolio of radionuclide therapies and pursue its mission to bring life-changing treatments to cancer patients worldwide.
Australia-based startup AdvanCell is currently enrolling patients for the highest dose cohort of its multicenter TheraPb Ph I/II dose-escalation clinical trial of metastatic prostate cancer ADVC001, a targeted alpha therapy that may be best-in-class. The trial aims to demonstrate the safety and efficacy of treatment with Pb-212-based radionuclides.
