Radionetics Oncology Raises $52.5 Million Series A To Advance First-In-Class Radiopharmaceutical Pipeline And Announces The Appointment Of Industry Leader, Paul Grayson, As Ceo

Jan 03, 2024•almost 2 years ago

Amount Raised

$52.5 Million

Round Type

series a

San DiegoPharmaceutical Manufacturing

Investors

RadioneticsGordon Md Global InvestmentsCrinetics PharmaceuticalsDcvc Bio5 Am VenturesFrazier Life Sciences

Description

Radionetics Oncology, Inc., a clinical stage radiopharmaceutical company focused on the discovery and development of novel agents for the treatment of a wide range of oncology indications, announces the completion of a $52.5 million Series A financing. The round was led by Frazier Life Sciences, 5AM Ventures, and new investor, DCVC Bio, with participation from Crinetics Pharmaceuticals, and GordonMD Global Investments, bringing the total raised to date to $82.5 million. Radionetics plans to use the proceeds to advance its pipeline of potent, small molecule radiopharmaceuticals targeting novel G-protein coupled receptors (GPCRs) for the treatment of a broad range of cancers.

Company Information

Company

Radionetics Oncology

Location

70 WILLOW STREET

San Diego, California, United States

About

Radionetics Oncology is a pharmaceutical company focused on the discovery and development of novel radiotherapeutics for the treatment of a wide range of oncology indications. The company’s platform technology uses nonpeptide, small molecule targeting to deliver therapeutic radioisotopes to a broad range of cancers by binding selectively to peptide receptors that are selectively expressed on these tumors. This nonpeptide technology addresses many of the significant challenges currently facing peptide and protein targeted radiotherapeutics, particularly in the realm of optimizing drug-like characteristics and manufacturing. The company is rapidly advancing a pipeline of drug candidates to treat a broad range of cancers and is conducting additional drug discovery efforts to identify drug candidates for additional receptor targets in collaboration with Crinetics Pharmaceuticals.

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