Pharma Focus America

Nucleus RadioPharma Extends Series A Funding with AstraZeneca's Investment

Thursday, June 06, 2024

Nucleus RadioPharma, an innovator in the field of radiopharmaceuticals, has successfully closed a Series A extension round, with AstraZeneca joining as a new investor. This move brings AstraZeneca into a coalition that includes current investors such as GE Healthcare, Mayo Clinic, Eclipse Ventures, Fox Chase Cancer Center, Echo Global, Granger Management Mercy Health, and the University of Missouri. The additional funding will help Nucleus enhance its capabilities in the development, supply, and commercial manufacturing of targeted radiotherapies and theranostics, aiming to improve global access to these treatments. Alongside this funding, Tyrell Rivers, PhD, Executive Director of Corporate Ventures at AstraZeneca, has been appointed to Nucleus’s Board of Directors.

Theranostics combines diagnostic imaging and targeted therapy, using radiotracers that target specific cancer cells. These radiotracers allow for the visualization of tumors with low doses, guiding precise treatment delivery, while higher doses effectively target and destroy cancer cells, minimizing harm to surrounding healthy tissue. This approach shows significant promise in treating advanced cancers such as neuroendocrine tumors, prostate cancer, and lymphoma, while generally reducing side effects compared to traditional treatments.

Nucleus RadioPharma, commented on the importance of this funding, saying, “Theranostic radiopharmaceuticals provide new hope for patients with limited treatment options. These treatments are not only effective but also safe, and this investment will help us increase their availability, supporting large-scale production to benefit more patients.”

Dr. Tyrell Rivers brings over two decades of experience in the investment and life sciences industries, having held significant roles in business strategy and corporate growth. Before joining AstraZeneca, he worked in life science investing at MedImmune Ventures and held leadership roles at Merck & Co. He also serves on the boards of ADC Therapeutics, Cellectis, Cerapedics, and Quell Therapeutics. Dr. Rivers holds degrees in Chemical Engineering from MIT and the University of Texas at Austin, and an MBA from NYU Stern School of Business.

Conroy further emphasized the significance of the new partnership, stating, “The support from AstraZeneca and the addition of Dr. Rivers to our board are exciting developments that will help us expand our development, supply, and manufacturing capabilities, ultimately improving global access to targeted radiotherapies and theranostics.”

Given the sensitive nature of radioactive materials, the supply chain management for radiopharmaceuticals requires precision to ensure timely delivery. Nucleus RadioPharma is at the forefront of optimizing manufacturing and supply chain processes, thereby enhancing access to these innovative cancer treatments.

 

Source: businesswire.com

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