AdvanCell, a clinical-stage radiopharmaceutical company focused on developing targeted cancer treatments, has successfully closed an oversubscribed $112 million Series C financing round. The investment, co-led by SV Health Investors, Sanofi Ventures, Abingworth, and SymBiosis, marks a pivotal milestone in the company’s mission to transform cancer treatment through Targeted Alpha Therapy (TAT).

The financing attracted both new and existing investors, including Morningside, Tenmile, and Brandon Capital, reinforcing strong confidence in AdvanCell’s innovative approach. The fresh capital will accelerate the company’s clinical development pipeline, expand its manufacturing capacity, and advance its proprietary radionuclide-based cancer therapies.

Scaling Manufacturing and Advancing Clinical Trials

Since its founding in June 2019, AdvanCell has rapidly evolved from a promising startup into a global entity with a 60-member team, a 40,000-square-foot manufacturing facility, and a cutting-edge pre-clinical infrastructure. The company’s flagship candidate, ADVC001, is currently undergoing a Phase I/II dose escalation trial (TheraPb) for metastatic prostate cancer. Designed as a potentially best-in-class Targeted Alpha Therapy, ADVC001 leverages Pb-212-based radionuclide technology to improve treatment outcomes for cancer patients.

With the Series C funding, AdvanCell aims to scale its isotope manufacturing operations, ensuring a sustainable supply chain for its therapies. The company’s commitment to building world-class production capabilities underscores its ambition to establish itself as a leader in radionuclide-based cancer treatment.

Strengthening Leadership with Industry Expertise

As part of the financing round, three seasoned industry professionals have joined AdvanCell’s Board of Directors. Jamil M. Beg of SV Health Investors, Christopher Gagliardi of Sanofi Ventures, and Bali Muralidhar of Abingworth bring extensive expertise in life sciences investment and pharmaceutical innovation. They join an existing board that includes Bill Ferris AC, Anthony Aiudi, Kevin Cameron, and Andrew Adamovich, further strengthening AdvanCell’s strategic leadership.

Jamil M. Beg highlighted AdvanCell’s unique position in the radiopharmaceutical space, emphasizing its robust infrastructure, strong partnerships with leading pharmaceutical companies, and the potential of its Pb-212-PSMA program to redefine cancer treatment. “We have looked deeply into radionuclide therapies and believe AdvanCell stands out with its best-in-class manufacturing platform and promising clinical pipeline,” Beg stated.

A Vision for the Future of Cancer Care

AdvanCell was founded on the belief that Targeted Alpha Therapies can revolutionize cancer treatment by harnessing the power of alpha-emitting radionuclides. Existing radiopharmaceutical therapies for prostate cancer and gastroenteropancreatic neuroendocrine tumors have already demonstrated transformative potential. Pb-212-based therapies offer a promising new frontier, leveraging unique radiobiological properties to develop next-generation treatments with enhanced efficacy and safety profiles.

CEO Andrew Adamovich expressed gratitude for the continued support from investors, particularly Morningside, which has backed the company’s vision from its early stages. “This successful Series C round demonstrates strong confidence in our capabilities and our long-term vision,” Adamovich said. “With this funding, we are well-positioned to scale our manufacturing operations and advance our cutting-edge therapies towards commercialization.”

The $112 million Series C round marks a significant milestone in AdvanCell’s trajectory. By expanding its manufacturing capabilities, advancing clinical trials, and securing strategic partnerships, the company is poised to play a leading role in the next wave of cancer therapeutics. With a strong pipeline and a commitment to innovation, AdvanCell continues to push the boundaries of radiopharmaceutical science, aiming to deliver life-changing treatments for cancer patients worldwide.