Evergreen Theragnostics, Inc., a clinical-stage radiopharmaceutical company, secures $26million in funding supported both by existing shareholders and new institutional investors, Petrichor and LIFTT.
Read also – CA-based Anrok Secures $30Million in Series B Round Funding
The financing advances Evergreen’s novel discovery pipeline into clinical trials, supports commercialization of its diagnostic agent, and further expands CDMO capabilities to meet growing client demand.
James Cook, CEO said, “We have been advancing our discovery pipeline and are excited to take the next step in development,” “As we continue to work with the FDA on approval of our Ga-68 DOTATOC diagnostic kit, this new funding will enable us to rapidly progress our novel theragnostic pair, EVG-321, into clinical trials. In addition, our CDMO business is continuing to build momentum as we bring on new customers and expand our efforts with existing ones. We appreciate the trust given to us by our existing and new shareholders in advancing our priorities.”
Patrick Lally, Partner at Petrichor said, “We have tracked Evergreen since the company’s inception and are excited to partner with James and his team as they bring best- and first-in-class candidates into the clinic, broaden their top-tier radiopharma drug discovery efforts, prepare for commercial launch of their diagnostic product, and further capitalize on the highly specialized expertise required to build and run a radiopharma CDMO,”.
Evergreen has established a lean and experienced team of scientific, medical, commercial, and operational leaders and employees to continue to develop our capabilities. Over the next months, Evergreen will continue to plan for the launch of our diagnostic agent Octevy™, subject to approval by the FDA.
Evergreen Discovery also intends to begin registration enabling therapeutic and diagnostic clinical trials for Lutetium-177 (177Lu) EVG-321 and Gallium-68 (68Ga) EVG-321, a novel radiopharmaceutical theragnostic pair, which, if successful, could offer new hope to patients with small cell lung cancer.
About Evergreen Theragnostics, Inc.
Evergreen Theragnostics is focused on improving the available options for cancer patients using radiopharmaceuticals. The company is engaged in Contract Development and Manufacturing (CDMO) services as well as drug discovery and commercialization of proprietary products.
Evergreen is headquartered in Springfield, NJ in a state-of-the-art GMP radiopharmaceutical facility. The company was founded in 2019 by a team that brings a strong track record in theragnostic radiopharmaceutical manufacturing and commercialization.
