AdvanCell Secures US$112 Million Series C Funding for Cancer Therapeutics Development

AdvanCell, a clinical-stage radiopharmaceutical company, has successfully raised an oversubscribed US$112 million Series C financing. The financing round was co-led by SV Health Investors, Sanofi Ventures, Abingworth, and SymBiosis, with additional support from existing investor Morningside and new investors Tenmile, Brandon Capital, and others. Since its founding in 2019, AdvanCell has experienced significant growth, expanding its team, manufacturing facility, pre-clinical infrastructure, and developing a pipeline of assets. 

This funding will drive AdvanCell's efforts to enhance manufacturing capacity, speed up clinical development of its radionuclide therapies, and advance its mission of providing life-changing treatments to cancer patients globally. The company is currently enrolling patients for the highest dose cohort of its multi-center TheraPb Ph I/II dose escalation clinical trial of ADVC001 for metastatic prostate cancer, with the aim of demonstrating the safety and efficacy of Pb-212-based radionuclide treatment.

As part of the financing, individuals from SV Health Investors, Sanofi Ventures, and Abingworth have joined AdvanCell's Board of Directors, bringing extensive industry expertise to support the company's growth.

This marks a significant step in AdvanCell's journey to become a global leader in radionuclide-based cancer therapeutics.

Find out more about the funding here.