Wednesday, October 18, 2023
Nucleus RadioPharma, an innovative organization specializing in the full spectrum of radiopharmaceutical development, manufacturing, and supply chain solutions, has recently secured a substantial $56 million in Series A funding. Leading this oversubscribed funding round are Eclipse and GE Healthcare, alongside active participation from Echo Global, Fox Chase Cancer Center, Granger Management, Mayo Clinic, Mercy Health, and the University of Missouri. With this significant financial boost, Nucleus RadioPharma is poised to establish multiple advanced manufacturing facilities across the United States, including one near the Mayo Clinic in Rochester, Minnesota. This investment will also support the creation of innovative technologies for the enhancement of radiopharmaceutical development, production, and distribution.
Radiopharmaceuticals represent a promising avenue for the highly targeted treatment of various cancer types and stages. Dr. Geoff Johnson, Chair of Nuclear Medicine at Mayo Clinic and Chief Scientific Officer of Nucleus RadioPharma, highlighted the potential of radiopharmaceuticals, expressing concern that only a small fraction of cancer patients can currently access these life-saving treatments due to limitations in production capacity and an outdated, fragmented supply chain. Nucleus RadioPharma was founded with the mission of revolutionizing the clinical development, manufacturing, and supply chain of these therapeutic agents, ensuring broader access for cancer patients.
Charles S. Conroy, the CEO of Nucleus RadioPharma, emphasized the promise of theranostic radiopharmaceuticals, which offer hope to millions of patients with limited treatment options. These highly targeted therapies not only demonstrate high efficacy but also maintain a superior safety profile. The recent funding will extend the reach and impact of these life-saving treatments by enabling mass production and increasing accessibility to those with few alternatives.
Nucleus RadioPharma's plans go beyond manufacturing; they are set to reshape the radiopharmaceutical supply chain. This includes more efficient movement, tracking, and delivery of materials to patients. The company will oversee the entire process, from identifying target molecules and testing treatments to supporting regulatory approvals and delivering patient-ready medication. To facilitate global logistics and distribution, Nucleus RadioPharma is also developing innovative software and hardware technologies.
Justin Butler, a partner at Eclipse, stated that their involvement in leading the Series A funding is to drive forward the radiopharmaceutical industry. Nucleus RadioPharma stands out as the first organization to offer an accelerated development platform, full-scale commercial manufacturing, and streamlined patient delivery systems, setting new standards for innovation in the sector.
Through strategic partnerships and collaborations, Nucleus RadioPharma is well-positioned to expedite the availability of targeted radiopharmaceutical therapies. These partnerships will facilitate the swift initiation of clinical trials, provide support for formulation, analytical method development, regulatory guidance, and commercial manufacturing.
Kevin O’Neill, President & CEO of GE Healthcare’s Pharmaceutical Diagnostics (PDx) segment, recognized the significance of radiopharmaceuticals in the battle against cancer and expressed excitement about partnering with Nucleus RadioPharma to expand their capabilities, making targeted radiotherapies and theranostics more accessible to patients worldwide.
Source: businesswire.com
