ARTBIO Secures $132 Million Series B Funding for Cancer Therapy Advancements
ARTBIO, Inc., a trailblazer in the field of radiopharmaceuticals, has recently announced a significant milestone: the completion of a $132 million Series B financing. This funding was co-led by esteemed new investors Sofinnova Investments and B Capital, alongside continued backing from notable existing investors such as F-Prime, Omega Funds, and Third Rock Ventures. Additionally, new capital was infused by the Qatar Investment Authority and Alexandria Venture Investments. This investment is set to propel ARTBIO's innovative pipeline of alpha radioligand therapies (ARTs), which are pivotal in addressing a wide spectrum of cancer types.
Under the leadership of CEO Emanuele Ostuni, Ph.D., ARTBIO aims to leverage this substantial financial boost to not only advance its lead asset AB001 through Phase II clinical development for metastatic castration-resistant prostate cancer but also to bolster additional undisclosed programs towards Investigational New Drug (IND) readiness. A critical component of ARTBIO's strategy involves the expansion of a unique manufacturing and supply chain infrastructure utilizing their proprietary generator technology.
"This substantial investment is a vote of confidence in ARTBIO's mission to innovate therapies designed to combat deadly cancers with unparalleled precision," Ostuni stated. "We appreciate the recognition of our need to establish a supply chain that can effectively support our therapeutic innovations."
The funding will enable ARTBIO to enhance its manufacturing capabilities significantly, thereby ensuring their therapies can reach global clinical trials expediently and ultimately pave the way for commercialization. Robert Mittendorff, M.D., General Partner at B Capital, highlighted ARTBIO's potential by stating, "The company’s approach with ART has the capacity to redefine care standards in oncology. The lead asset, AB001, is engineered to fully capitalize on the unique properties of lead-212, and my team is enthusiastic about its future prospects."
A key factor in ARTBIO’s success is its patented AlphaDirect™ isotope isolation technology, which facilitates the on-demand production of clinical-grade lead-212 (212Pb) and therapeutic doses, ensuring a flexible, robust supply system. This is made possible through a strategically interconnected manufacturing network that addresses and mitigates common supply chain challenges.
Maha Katabi, Ph.D., General Partner at Sofinnova Investments, expressed excitement over partnering with ARTBIO, noting their differentiated ART portfolio and integrated manufacturing approach were crucial to the company's alignment with investor interests. This collaboration aims to navigate the complexities surrounding the production of radioisotopes effectively.
ARTBIO is fundamentally reshaping cancer treatment paradigms with its innovative approach to alpha radioligand therapies. By selectively targeting optimal alpha-precursor isotopes (Pb212) with tumor-specific targets, ARTBIO aims to dictate therapeutics that offer heightened efficacy and safety profiles. Their AlphaDirect™ technology is a groundbreaking 212Pb isolation method that supports reliable production and distribution of ARTs across the globe.
Currently in human trials, ARTBIO’s flagship program, AB001, symbolizes a culmination of nearly a century’s worth of scientific exploration in radiation therapy, originating from the University of Oslo and Norway's Radium Hospital. With its promising developments and newly acquired funding, ARTBIO is poised to make significant strides in cancer treatment and ultimately improve patient outcomes. For further information, visit www.artbio.com and follow the latest updates on their LinkedIn profile.
Under the leadership of CEO Emanuele Ostuni, Ph.D., ARTBIO aims to leverage this substantial financial boost to not only advance its lead asset AB001 through Phase II clinical development for metastatic castration-resistant prostate cancer but also to bolster additional undisclosed programs towards Investigational New Drug (IND) readiness. A critical component of ARTBIO's strategy involves the expansion of a unique manufacturing and supply chain infrastructure utilizing their proprietary generator technology.
"This substantial investment is a vote of confidence in ARTBIO's mission to innovate therapies designed to combat deadly cancers with unparalleled precision," Ostuni stated. "We appreciate the recognition of our need to establish a supply chain that can effectively support our therapeutic innovations."
The funding will enable ARTBIO to enhance its manufacturing capabilities significantly, thereby ensuring their therapies can reach global clinical trials expediently and ultimately pave the way for commercialization. Robert Mittendorff, M.D., General Partner at B Capital, highlighted ARTBIO's potential by stating, "The company’s approach with ART has the capacity to redefine care standards in oncology. The lead asset, AB001, is engineered to fully capitalize on the unique properties of lead-212, and my team is enthusiastic about its future prospects."
A key factor in ARTBIO’s success is its patented AlphaDirect™ isotope isolation technology, which facilitates the on-demand production of clinical-grade lead-212 (212Pb) and therapeutic doses, ensuring a flexible, robust supply system. This is made possible through a strategically interconnected manufacturing network that addresses and mitigates common supply chain challenges.
Maha Katabi, Ph.D., General Partner at Sofinnova Investments, expressed excitement over partnering with ARTBIO, noting their differentiated ART portfolio and integrated manufacturing approach were crucial to the company's alignment with investor interests. This collaboration aims to navigate the complexities surrounding the production of radioisotopes effectively.
ARTBIO is fundamentally reshaping cancer treatment paradigms with its innovative approach to alpha radioligand therapies. By selectively targeting optimal alpha-precursor isotopes (Pb212) with tumor-specific targets, ARTBIO aims to dictate therapeutics that offer heightened efficacy and safety profiles. Their AlphaDirect™ technology is a groundbreaking 212Pb isolation method that supports reliable production and distribution of ARTs across the globe.
Currently in human trials, ARTBIO’s flagship program, AB001, symbolizes a culmination of nearly a century’s worth of scientific exploration in radiation therapy, originating from the University of Oslo and Norway's Radium Hospital. With its promising developments and newly acquired funding, ARTBIO is poised to make significant strides in cancer treatment and ultimately improve patient outcomes. For further information, visit www.artbio.com and follow the latest updates on their LinkedIn profile.
Topics Health）
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