AdvanCell Raises US$112 Million in Series C Funding

AdvanCell, a clinical-stage radiopharmaceutical company developing innovative cancer therapeutics, raised US$112 million in Series C financing.

SV Health Investors, Sanofi Ventures, Abingworth, and SymBiosis co-led the investment round with participation from Morningside, Tenmile, and Brandon Capital.

Since its founding in June 2019, AdvanCell has grown from a belief in the potential of Targeted Alpha Therapy into a global organization with 60 passionate team members, a 40,000-square-foot manufacturing facility, world-class pre-clinical infrastructure, a potentially best-in-class drug for prostate cancer that is in trials, and a deep and developing pipeline of assets.

AdvanCell said this investment will fuel its ongoing efforts to expand its manufacturing capacity, accelerate the clinical development of its pipeline of radionuclide therapies, and advance its mission of delivering life-changing treatments to cancer patients worldwide.

AdvanCell 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, a potentially best-in-class Targeted Alpha Therapy. The trial aims to demonstrate the safety and efficacy of Pb-212-based radionuclide treatment.

“This successful Series C round demonstrates strong confidence in our vision and capabilities,” said Andrew Adamovich, CEO of AdvanCell. “We are grateful for the continued support from our existing investors, particularly the long-term support from Morningside, and are excited to welcome new partners who share our commitment to transforming cancer care. With this funding, AdvanCell is well-positioned to scale our manufacturing operations and progress our cutting-edge therapies towards commercialization.”