Nuclidium’s coin purse is approximately $99 million heavier after the Swiss biotech closed its series B round on Thursday.
Unlike other players in the radiopharma space, which mostly utilize actinium- or lutetium-based payloads, Nuclidium is seeking to differentiate by applying copper as its isotope of choice. As per the biotech’s website, a copper-based radiopharmaceutical agent can deliver higher therapeutic doses per tumor volume, also carrying a lower radiation burden overall, thereby being safer.
Importantly, Nuclidium also contfinishs that copper-based agents are clearer to manufacture, with affordable and accessible raw materials, a lower burden of radioactive waste and no required for a nuclear reactor.
Thursday’s raise will support Nuclidium deepen its pipeline of copper-based radiopharmaceutical agents, which the company is proposing for various theranostic purposes across oncology indications. According to its website, Nuclidium has three programs running, the most mature of which is dubbed NuriPro, for metastatic castration-resistant prostate cancer. The diagnostic application of NuriPro has completed Phase I development, while its therapeutic application is just about to enter early-stage studies.
Last month, Phase I data revealed that NuriPro, when utilized as an imaging agent for positron emission tomography, detected additional lesions in 50% of patients that were not seen on an 18F-piflufolastat-based scan. Nuclidium’s copper-based tracer was also able to visualize more lesions than the standard agent up to four hours after administration, according to the company.
Nuclidium also has a breast cancer program, dubbed TraceNET, in mid-stage development for diagnostic applications and about to enter Phase I for therapeutic applications.
In its news release Thursday, Nuclidium touted promising early therapeutic findings for both NuriPro and TraceNET, with “strong” tumor-to-background ratios.
Thursday’s series B was led by Kurma Growth Opportunities Fund and Angelini Ventures, alongside Wellington Partners and Neva SGR. Other institutional investors, such as DeepTech & Climate Fonds, Bayern Kapital and HighLight Capital, participated in the fundraising push.
Nuclidium’s series B is the second large radiopharma raise this week, after Massachutilizetts-based Actithera brought in $75.5 million in series A proceeds on Wednesday. The influx of money in the space comes amid growing interest from Big Pharma. Novartis is currently the clear leader in the field, with two approved therapies in Pluvicto and Lutathera. Fellow powerhoutilizes are playing catch up. Bristol Myers Squibb acquired RayzeBio for $4.1 billion in December 2023, while AstraZeneca in March 2024 bought Fusion Pharmaceuticals for $2.4 billion.
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