Evergreen Theragnostics, a Springfield, NJ-based clinical stage contract development and manufacturing organization (CDMO), raised $15M in Series B funding.
The backers were nor disclosed.
The company intends to use the funds to prepare for the launch of Ga-68 DOTATOC, if approved. Activities will include building commercial capabilities and staffing, as well as inventory build. The product is planned to be available through Evergreen’s radiopharmacy partners around the country.
Founded in 2019 and led by James Cook, President and CEO, Evergreen Theragnostics is focused on improving the available options for cancer patients using radiopharmaceuticals, being engaged in three core areas: CDMO, Products, and Drug Discovery.
Leveraging the capital raise, the company is launching a new business unit, Evergreen Discovery, which is focused on developing novel radiopharmaceuticals for cancer therapy. To support its new business unit, Evergreen has recruited Dr. Thomas Reiner as their Chief Scientific Officer. Prior to this, Dr. Reiner served as Head of Radioligand Therapy Drug Discovery on the Executive Leadership Team of AAA (Advanced Accelerator Applications, a Novartis Company). He is a former Laboratory Head, Associate Professor and Member of the Chemical Biology Program at Memorial Sloan Kettering Cancer Center.
Evergreen Discovery will be based in a new research facility near Princeton, NJ, opening in Q3’2023.
FinSMEs
15/03/2023