Belgium-based PanTera has successfully raised €93 million in an oversubscribed Series A funding round, bringing its total funding to €134 million. This funding, led by EQT Life Sciences, aims to enhance the large-scale production of actinium-225 (Ac-225), a promising radioisotope for cancer treatment. Established in September 2022 as a joint venture between Belgium’s SCK CEN and IBN, PanTera plans to commercialize Ac-225 production using accelerator technology. By 2029, the company aims to produce over 100 Curies of clinical-grade Ac-225 annually, enough to treat over 100,000 cancer patients each year. Already, PanTera provides early supplies of Ac-225 and anticipates producing 1.5-2 Curies annually starting in 2025, giving it a significant edge in a market where current global supply is only 3 Curies per year. The company also has agreements with multiple pharmaceutical companies, including Bayer, to secure over 80% of its production capacity prior to commercial operations.
Fri, 13 Sep 2024 19:57:55 GMT | NucNet