Nucleus RadioPharma secures Series A investment from AstraZeneca
The investment from AstraZeneca marks a strategic move to further expand Nucleus's capabilities in developing targeted radiotherapies and theranostics, aimed at making cancer treatments more accessible worldwide.
Joining a list of existing investors including GE Healthcare, Mayo Clinic, and others, AstraZeneca's involvement underscores the growing interest and confidence in Nucleus's mission to revolutionize cancer treatment through theranostics.
As part of this collaboration, Dr. Tyrell Rivers, executive director of corporate ventures at AstraZeneca, will bring his expertise to Nucleus's board of directors, lending insights into business strategies and growth opportunities.
According to both companies, Dr. Rivers' track record in fostering company growth, shaping corporate strategy, and building financially sustainable businesses will be instrumental in guiding Nucleus's strategic direction and bolstering its position in the market.
Theranostics, a cutting-edge approach that combines diagnostics and therapeutics, holds immense promise in personalized cancer treatment. By utilizing radiotracers to selectively target cancer cells, theranostics not only aids in visualizing tumors but also delivers potent radiation to eliminate cancer cells with minimal harm to healthy tissues.
This precision-oriented methodology offers a significant advantage over traditional treatments, particularly in combating metastatic cancers like neuroendocrine tumors, prostate cancer, and lymphoma.
“Theranostic radiopharmaceuticals represent a new hope for millions of people with limited treatment alternatives,” said Nucleus RadioPharma CEO Charles Conroy.
“These drugs, designed for precise targeting, are demonstrating remarkable effectiveness while upholding an exceptional safety record. The funding expands the accessibility and impact of these life-saving treatments, paving the way for large-scale production and instilling optimism in those with limited options."
The challenges associated with the intricate supply chain of radiopharmaceuticals, likened to managing a rapidly melting ice cube, have long hindered patient access to these advanced treatments.
Nucleus RadioPharma is addressing these challenges by enhancing manufacturing and supply chain efficiency, with the goal of making radiopharmaceuticals more readily available to patients worldwide.
Conroy added: “The support of AstraZeneca and Tyrell on the board has ignited our excitement as this funding will facilitate the expansion of our development, supply, and commercial manufacturing capabilities, ultimately enhancing global accessibility to targeted radiotherapies and theranostics for patients worldwide.”
The news also highlights the trend of major investments in targeted radiotherapies, including Novartis acquiring Mariana Oncology, Bristol Myers buying RayzeBio, and AstraZeneca's acquisition of Fusion Pharmaceuticals.
