Nucleus RadioPharma Secures $56 Million Series A Funding to Expand Production of Radiopharmaceutical Treatments for Cancer Patients

×

Error message

  • Notice: Undefined property: stdClass::$ds_changed in eval() (line 16 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$ss_search_api_url in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).
  • Notice: Undefined property: stdClass::$tm_title in eval() (line 20 of /var/www/7/modules/php/php.module(80) : eval()'d code).

Radiopharmaceuticals offer a highly targeted approach to a wide variety of cancer types and stages.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, October 17, 2023
Information
Tags: 
Biotechnology, Pharmaceutical, Health, Oncology, Eclipse, PDX, Cancer, Mayo Clinic, Nucleus, Hope, Mercy Health, Radiopharmaceutical, University of Missouri, University, GE, Software, Fox Chase Cancer Center, Patient, Pharmaceutical industry, Medical imaging
Geotags: 
MINNESOTA, UNITED STATES, NORTH AMERICA
Summary
Key Points: 
  • Radiopharmaceuticals offer a highly targeted approach to a wide variety of cancer types and stages.
  • Nucleus RadioPharma was founded and built to ensure cancer patients can access potentially lifesaving radiopharmaceuticals by developing technologies to modernize the clinical development, manufacturing, and supply chain of these promising new therapies.
  • “Theranostic radiopharmaceuticals are offering promise for millions who currently have limited treatment options,” said Charles S. Conroy, CEO of Nucleus RadioPharma.
  • “We co-founded Nucleus RadioPharma, and are leading their Series A, to propel the radiopharmaceutical industry forward,” said Justin Butler, Partner at Eclipse.


Today, Nucleus RadioPharma, the world’s first fully integrated development, manufacturing, and supply chain organization for radiopharmaceuticals has announced an oversubscribed $56 million Series A funding round led by Eclipse and GE HealthCare with participation from Echo Global, Fox Chase Cancer Center, Granger Management, Mayo Clinic, Mercy Health, and University of Missouri. With this round of funding, Nucleus RadioPharma will establish multiple new manufacturing facilities around the country, including Rochester, Minnesota, near Mayo Clinic, and build novel technology for the development, manufacturing, and distribution of radiopharmaceuticals.

Radiopharmaceuticals offer a highly targeted approach to a wide variety of cancer types and stages. “Conceivably, many cancers have the potential to be treated with a properly designed radiopharmaceutical and yet, very few patients with cancer are receiving this kind of treatment,” said Geoff Johnson, M.D., Ph.D., Chair of Nuclear Medicine, Mayo Clinic, and Chief Scientific Officer of Nucleus RadioPharma. Despite their promise, only a small fraction of patients are able to obtain these drugs due to limited production capacity and an outdated, fragmented supply chain. Nucleus RadioPharma was founded and built to ensure cancer patients can access potentially lifesaving radiopharmaceuticals by developing technologies to modernize the clinical development, manufacturing, and supply chain of these promising new therapies.

“Theranostic radiopharmaceuticals are offering promise for millions who currently have limited treatment options,” said Charles S. Conroy, CEO of Nucleus RadioPharma. “As truly targeted therapies, these drugs are proving not only to be highly effective but also to maintain a superior safety profile. This funding advances the reach and impact of these life-saving agents, allowing for therapies that can be mass-produced, and offers hope to those with few alternatives.”

In addition to its manufacturing capabilities, Nucleus RadioPharma will shape the development of a new supply chain network designed to move, track, and deliver materials to patients faster and more efficiently. This network will cover the entire process, from identifying target molecules and testing treatments to supporting regulatory approvals and delivering patient-ready medication. Nucleus will bring life-saving treatments to an even broader patient base with the completion of multiple large regional sites. To enable global logistics and distribution of these therapies, the company is developing novel software and hardware technologies.

“We co-founded Nucleus RadioPharma, and are leading their Series A, to propel the radiopharmaceutical industry forward,” said Justin Butler, Partner at Eclipse. “Nucleus RadioPharma distinguishes itself as the first to offer an accelerated development platform, full-scale commercial manufacturing, and enhanced distribution through streamlined patient delivery systems. The company sets new standards for innovation in the industry, uniquely positioning Nucleus RadioPharma to unlock the full potential of the radiopharmaceutical sector.”

Nucleus RadioPharma is positioned to expedite the availability of targeted radiopharmaceutical therapies through several ongoing partnerships and collaborations. These will enable rapid initiation of clinical trials, full support for formulation, analytical method development, regulatory guidance, and commercial manufacturing.

“Radiopharmaceuticals are a powerful tool in the fight against cancer,” said Kevin O’Neill, President & CEO of GE HealthCare’s Pharmaceutical Diagnostics (PDx) segment. “Nucleus RadioPharma has made tremendous progress in the field in a short period of time. We are excited to partner with them to expand development, supply, and commercial manufacturing capabilities to make targeted radiotherapies and theranostics more accessible to patients globally.“

Please visit https://nucleusrad.com/#about for more information and to learn more about Nucleus RadioPharma’s partnering opportunities.

About Nucleus RadioPharma

Nucleus RadioPharma is an innovative CDMO in the radiopharmaceutical industry, dedicated to the development and manufacturing of targeted radiotherapies. With an emphasis on innovation and quality, the company provides an array of services, from formulation and analytical development to regulatory documentation and drug product manufacturing. Nucleus RadioPharma’s technology platforms are at the forefront of radiopharmaceutical research, designed to advance new therapies through clinical trials to commercialization. Recognized for its flexible approach, the company offers multiple onboarding points to accommodate innovators at various stages of their product lifecycle. Please visit nucleusrad.com for more information.

Copyright: 
Copyright Business Wire 2023