{"id":47599,"date":"2022-08-24T04:01:51","date_gmt":"2022-08-24T02:01:51","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/advancell-closes-a18m-series-b-funding-led-by-morningside\/"},"modified":"2022-08-24T04:01:51","modified_gmt":"2022-08-24T02:01:51","slug":"advancell-closes-a18m-series-b-funding-led-by-morningside","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/advancell-closes-a18m-series-b-funding-led-by-morningside\/","title":{"rendered":"AdvanCell Closes A$18M Series B Funding Led by Morningside"},"content":{"rendered":"
\n

\nSeries B financing will accelerate growth and advance lead clinical program 212<\/sup>Pb-ADVC001 a best-in-class treatment for metastatic prostate cancer, expand manufacturing platform footprint and progress internal and partnership programs.<\/i>\n<\/p>\n

<\/a><\/p>\n

SYDNEY–(BUSINESS WIRE)–#AdvanCell<\/a>–AdvanCell, an Australian radiopharmaceutical company with a platform technology for a revolutionary cancer treatment called Targeted Alpha Therapy, announced today the closing of an A$18 million Series B financing round led by Morningside.\n<\/p>\n

\nAndrew Adamovich, CEO and Founder of AdvanCell noted, \u201cWe are very pleased with our progress to date and delighted that we will continue our rapid growth with the support of our shareholders. We have had a long-term relationship with our lead investor, Morningside, and are excited to come closer still to our goal to ‘Change the Course of Cancer Treatment.’\u201d\n<\/p>\n

\nTargeted Alpha Therapies represent the most exciting opportunity to treat currently untreatable cancers. The technology harnesses the natural decay and radiochemical properties of certain elements, in combination with specific targeting molecules, to selectively deliver cell-killing radiation to the tumour cell. AdvanCell believes this precise and powerful treatment will rapidly become a leading pillar of cancer treatment, providing treatments for diseases for which there are currently no effective options. Targeted Alpha Therapies demonstrate incredible efficacy, however widespread adoption and large commercial product launches require a scalable and reliable global isotope supply. AdvanCell was established to solve this problem.\n<\/p>\n

\nAdvanCell\u2019s ability to produce isotope on-demand and at scale, and its in-house radiopharmaceutical manufacturing expertise positions AdvanCell to play a leading role in this rapidly growing market. With additional support from NSW Health Medical Devices Fund and the Federal government\u2019s Research & Development Tax Incentive, AdvanCell has developed a world-first scalable manufacturing platform to produce alpha-emitting isotopes for research, pre-clinical and clinical use and to advance its own and its partners’ radiopharmaceutical products.\n<\/p>\n

\nAnthony Aiudi from Morningside commented, \u201cAdvanCell is leveraging its ability to make alpha isotopes at scale and in clinically useful amounts along with its radiochemistry expertise, to develop an exciting portfolio of Targeted Alpha Therapies. Targeted Alpha Therapies hold incredible promise however their development has been hamstrung by a lack of radioisotope supply. Together with the team at AdvanCell, we look forward to writing a new chapter in oncology, to target large patient populations with significant unmet needs.\u201d\n<\/p>\n

\nMr Aiudi has been appointed to the Board of AdvanCell, joining Mr Adamovich, Bill Ferris AC, co-founder of CPE Capital, Adrian \u201cAdi\u201d Patterson, former Australian Nuclear Science and Technology Organisation (ANSTO) CEO and Kevin Cameron, CEO of Ionetix.\n<\/p>\n

\nBill Ferris AC, Chair remarked, \u201cOur executive team has articulated a credible pre-clinical and clinical pathway for the delivery of the Company\u2019s novel Targeted Alpha Therapies. Having successfully developed the manufacturing platform essential for the reliable and scalable supply of isotopes, the Company is on schedule with its pre-clinical work and is now moving into first-in-human trials. AdvanCell is on track to become a leading radiopharmaceutical company with a platform technology enabling novel cancer treatments.\u201d\n<\/p>\n

\nAbout AdvanCell<\/b>\n<\/p>\n

\nAdvanCell is a radiopharmaceutical company developing next-generation cancer treatment. AdvanCell\u2019s Targeted Alpha Therapies are powered by a platform technology \u2013 a world-first alpha isotope generator that addresses the greatest unmet need in Targeted Alpha Therapy \u2013 the reliable and scalable supply of isotope. AdvanCell has a world-class team and is honoured to be advised by an outstanding Board of Directors and Scientific Advisory Board. For more information visit www.advancell.com.au<\/a>\n<\/p>\n

\nAbout Morningside<\/b>\n<\/p>\n

\nFounded in 1986 by the Chan family, Morningside is a technology and life science venture investment firm. With offices in Boston, Shanghai and London, the firm invests globally. The group is managed by investment professionals who are entrepreneurial, have deep industry knowledge and are effective in the local environment in which they operate. Morningside partners with academic founders and entrepreneurs to build world-class companies that want to markedly improve the current state of medicine today and ultimately, the lives of patients. In addition to its investment activities, Morningside Ventures is strongly committed to social responsibility. For more information visit www.morningside.com<\/a>.\n<\/p>\n

Contacts<\/b> <\/p>\n

\ncontact@advancell.com.au<\/a>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Series B financing will accelerate growth and advance lead clinical program 212Pb-ADVC001 a best-in-class treatment for metastatic prostate cancer, expand manufacturing platform footprint and progress internal and partnership programs. SYDNEY–(BUSINESS WIRE)–#AdvanCell–AdvanCell, an Australian radiopharmaceutical company with a platform technology for a revolutionary cancer treatment called Targeted Alpha Therapy, announced today the closing of an A$18 … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-47599","6":"format-standard","7":"category-industry"},"yoast_head":"\nAdvanCell Closes A$18M Series B Funding Led by Morningside - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/advancell-closes-a18m-series-b-funding-led-by-morningside\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AdvanCell Closes A$18M Series B Funding Led by Morningside - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"Series B financing will accelerate growth and advance lead clinical program 212Pb-ADVC001 a best-in-class treatment for metastatic prostate cancer, expand manufacturing platform footprint and progress internal and partnership programs. 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