Oversubscribed A Series funding round brings total funds to €134m
Belgium-based PanTera has secured €93m in an oversubscribed early-stage funding round to accelerate the large-scale production of actinium-225 (Ac-225) a promising radioisotope for emerging cancer treatments.
The company said the latest A Series funding round, led by global health investor EQT Life Sciences, brings the total funds raised by PanTera to €134m, including equity contributions and debt financing.
PanTera said the funding round marks the largest in Belgium’s life sciences sector to date.
PanTera was set up in September 2022 as a joint venture between Belgium’s nuclear research centre SCK CEN and IBN (Ion Beam Applications) with the mission to commercialise the production of Ac-225 from radium-226 (Ra-226) with the use of accelerator technology.
Belgium has radium reserves dating back to the beginning of the 20th century when the country was a pioneer of radiochemical research.
Ac-225 is a promising alpha emitter for use in targeted alpha therapy. It has the potential to target solid tumors, metastases, and systemic cancers such as leukemia.
The company’s production method transforms Ra-226 into Ra-225, which then decays into Ac-225. This process will enable PanTera to produce over 100 Curies of clinical-grade Ac-225. annually by 2029, enough to treat more than 100,000 cancer patients each year.
PanTera said it is already providing early supplies of Ac-225 through a collaboration with TerraPower Isotopes and expects to produce 1.5-2 Curies annually starting in 2025.
Current global supply stands at just 3 Curies per year, PanTera said and added it has already secured agreements with several pharmaceutical companies, including Bayer, to fulfil more than 80% of its production capacity before commercial operations begin.
