Nuclidium has raised 79 million Swiss francs ($99 million) as the Swiss and German biotech looks to continue the clinical journey of its copper-based radiopharmaceutical diagnostic and therapeutic offering.
The series B round was led by a quartet of Kurma Growth Opportunities Fund, Angelini Ventures, Wellington Partners and Neva SGR, along with a roll call of new and existing investors. Top priority for spending the proceeds will be the ongoing clinical evaluation of Nuclidium’s lead oncology theranostic pipeline.
This program involves using the radioisotope copper-61 to diagnose various cancers before using the radioisotope copper-67 to treat the disease. The aim is to address the “suboptimal clinical efficacy and complex manufacturing” that is hindering the current range of radiotheranostics, according to Nuclidium.
The biotech pointed to initial clinical data showing that its copper-61 imaging agent, which it has dubbed Cu-NuriPro, detected more prostate cancer lesions than an approved radioactive diagnostic agent in 50% of patients.
“Nuclidium is entering its next clinical phases with its lead compounds to diagnose and treat metastatic prostate, neuroendocrine tumors and breast cancer,” CEO Leila Jaafar, Ph.D., said in the July 10 release. “Our copper-based radiotheranostics are developed for seamless use in hospital workflows, care delivery and waste management, making these therapies more accessible worldwide.”
“Our groundbreaking next-generation copper theranostic platform also allows us to rapidly develop new targets across a wider range of cancers, particularly those highly relevant to women’s health,” Jaafar added.
The Basel, Switzerland-headquartered company will also use the series B funds to expand its radioisotope manufacturing network and grow its international team, while looking to strengthen its collaborations with hospitals and academic centers in Europe and North America.
Alongside the round, Kurma partner Daniel Parera, M.D., Angelini managing director Regina Hodits, Ph.D., and Neva life sciences partner Liliana Nordbakk will all join Nuclidium’s board.
“Nucliduim’s platform stands out in a rapidly evolving field and will change how radiotheranostic care is delivered,” Parera, Hodits and Nordbakk said in a joint statement. “This investment reflects our strong conviction in the future of precision medicine and our belief in Nuclidium’s potential to scale as a next-generation company—an ambition shared across a strong European syndicate.”
The radiopharma field is expected to grow from $9.1 billion in 2023 to $26.5 billion in 2031, according to a January report by Insight Partners. This year has already seen some intriguing radiopharma readouts, including “promising efficacy” for Telix Pharmaceuticals’ radiation therapy for brain cancer and ITM Isotope Technologies’ stomach and pancreatic cancer tumor candidate besting the standard of care while unable to prove a statistically significant benefit in median overall survival.