ArtBio announced today that it closed a $132 million Series B funding round to advance its development of alpha radioligand therapies (ARTs).
New investors Sofinnova Investments and B Capital, along with a life sciences-dedicated investment fund that previously invested, led the round. Existing investors F-Prime, Omega Funds and Third Rock Ventures, plus new investors Qatar Investment Authority and Alexandria Venture Investments also participated.
The latest round of funding supports the advancement of ArtBio’s pipeline and the continued expansion of its supply chain. ArtBio plans to rapidly advance its manufacturing network infrastructure to supply global clinical trials and, ultimately, commercialization. The company’s AlphaDirect isotope isolation technology serves as a critical enabler of the company’s success, according to a news release.
AlphaDirect enables flexible production of clinical-grade lead-212 (212Pb) and therapeutic doses daily. The company said it can achieve this through a strategically distributed manufacturing network, improving access and de-risking common supply chain issues.
“This sizable investment from both existing and new investors will enable ArtBio to continue innovating therapies that treat a range of deadly cancers with power and precision,” said Emanuele Ostuni, CEO of ArtBio. “Our team is grateful for the investment and recognition of the need to build a supply chain that matches the properties of the therapies and the unique payload that we use.”
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