Healthtech Startup AdvanCell Scores $315M Series D Backing for Cancer Therapies

The round also saw new investors Bain Capital Life Sciences, Fidelity Management and Research Company, T. Rowe Price Associates, Inc., Eventide Asset Management, and Velosity Capital. Existing investors Morningside, Eli Lilly and Company, SV Health Investors, Sanofi Ventures, Abingworth, SymBiosis, Tenmile, Brandon Capital, Piper Heartland, Catalio Capital Management, Proto Axiom, Time BioVentures also participated.

The company will use the funding to advance ADVC001, its Lead-212 PSMA-targeted radioligand therapy for metastatic prostate cancer, into Phase 3 clinical trials. It also plans to expand its radiopharmaceutical platform and manufacturing capabilities.

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Targeted alpha therapy is becoming an important treatment option for cancer, but shortages of medical isotopes and manufacturing challenges have limited its wider use.

AdvanCell has built its own integrated platform around its proprietary Lead-212 technology. The platform combines a reliable isotope supply, automated manufacturing, and scalable production to speed up the development and delivery of next-generation targeted alpha therapies.

AdvanCell's lead drug candidate, ADVC001, is a Lead-212 PSMA-targeted alpha therapy being developed for metastatic prostate cancer. It is currently in Phase 2 clinical trials.

The therapy is designed to deliver radiation directly to cancer cells while reducing damage to healthy tissue. It aims to overcome challenges with current PSMA radioligand treatments, including treatment resistance and side effects.

Early Phase 1b results have shown encouraging anti tumor activity, and good tolerability in prostate cancer patients. These findings support the continued development of ADVC001 and strengthen AdvanCell's broader pipeline of targeted alpha cancer therapies.

“This financing marks a transformational milestone for AdvanCell and reflects the conviction of an exceptional investor syndicate in the potential of ADVC001 and the innovation behind our vertically integrated Lead-212 platform,” said Philina Lee, Ph.D., Chief Executive Officer, AdvanCell. “Building on our recent leadership appointments and U.S. expansion, this financing puts us in a strong position to enter our next stage of growth and execution, advancing our lead therapy ADVC001 toward registrational development and expanding isotope supply.

“The companies poised to lead the next generation of targeted alpha therapies will be those that combine differentiated clinical assets with end-to-end control over supply and manufacturing,” said Andrew Lam, PharmD, Managing Director, Head of Biotech Private Equity at Ally Bridge Group. “AdvanCell has assembled that foundation through its de-risked lead program, vertically integrated platform and experienced leadership team.

“The most enduring healthcare companies combine breakthrough science with the infrastructure and expertise to repeatedly develop new medicines,” said Nik Economopoulos, Director, Life Sciences Investments, Alpha Wave. “We believe AdvanCell is building that kind of generational company, with the platform, manufacturing capabilities and pipeline to unlock the full potential of targeted alpha therapies.”

About AdvanCell

Founded in 2019 by Andrew Adamovich, AdvanCell is a clinical-stage radiopharmaceutical company developing targeted alpha therapies for cancer. The company has built an integrated platform that includes its proprietary Lead-212 technology, isotope supply, manufacturing and clinical development. With operations in North America and Australia, AdvanCell is advancing a pipeline of precision cancer therapies designed to improve treatment options and outcomes for patients around the world.

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