ARTBIO, a Cambridge, MA- and Basel, Switzerland-based clinical-stage radiopharmaceutical company, raised $90M in Series A funding.
The round was led by Third Rock Ventures and an undisclosed healthcare fund. Additionally, seed lead investors F-Prime Capital and Omega Funds also participated.
The company intends to use the funds to solidify its proprietary Pb212 isolation technology AlphaDirect™ and its distributed manufacturing network, advance its lead program AB001 in the clinic for treatment of prostate cancer, and further the pipeline.
Led by Emanuele Ostuni, Ph.D., CEO, ARTBIO is a clinical-stage radiopharmaceutical company focused on cancer care by creating a new class of alpha radioligand therapies (ARTs). Its approach selects the optimal alpha-precursor isotope (Pb212) and tumor-specific targets to create highly effective and safe therapeutics. Its AlphaDirect™ technology, a Pb212 isolation method, enables a distributed manufacturing approach for the production and delivery of ARTs. The company is advancing three pipeline programs with lead program AB001 currently in first in human trials.
Concurrent with the Series A closing, ARTBIO has appointed industry veterans Philippe Dasse, Pharm.D., as Chief Technical Officer and Daniel Rossetto as Head and Senior Vice President of Supply Chain and External Manufacturing.
FinSMEs
07/12/2023