EQT Life Sciences Leads Significant Series A Fundraising for PanTera
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EQT Life Sciences Leads Significant Series A Fundraising for PanTera
EQT Life Sciences has led a remarkable EUR 93 million oversubscribed Series A round for PanTera, a pioneering company in the field of radioisotope production. This fundraising marks a significant milestone in the life sciences sector, aiming to enhance the production of actinium-225, a crucial component in advancing targeted cancer therapies.
Pioneering Targeted Alpha Therapy
At the heart of this initiative is a new class of treatment known as Targeted Alpha Therapy, which is designed to deliver potent radiation directly to cancerous cells. Unlike other radiation treatments, the use of highly energetic alpha particles allows for a more localized effect, thereby minimizing damage to surrounding healthy tissue. The focus on actinium-225 (225Ac) is due to its unique properties that make it an exceptional candidate for these advanced treatments.
Funding Overview
The total funds raised in this Series A round reached EUR 134 million, with contributions from other notable investors such as Kurma Partners, Eurazeo, Korys, Paladin, and PMV. Notably, IBA and SFPIM are converting EUR 7.2 million in convertible loans into equity, further solidifying their support for PanTera's mission.
Addressing Global Shortage in Actinium-225
Founded with a vision in 2022, PanTera is on a path to ensure large-scale production of actinium-225, addressing a critical global shortage. The company employs a unique photo-nuclear production process that transforms Radium-226 into Radium-225, ultimately producing the sought-after 225Ac. This innovative approach promises to establish a sustainable and high-quality supply chain that meets the urgent needs of clinical trials and future commercial applications.
Production Capabilities
By 2029, PanTera plans to produce over 100 Curies of clinical-grade actinium-225 annually, which is projected to benefit more than 100,000 patients each year. This ambitious plan is supported by robust partnerships, particularly with SCK CEN, which provides a substantial reserve of pure Radium-226, and IBA, known for its advanced accelerator technology.
Strategic Partnerships and Supply Agreements
In addition to its primary production strategy, PanTera is collaborating with TerraPower Isotopes to generate supplementary supplies of actinium-225, effectively contributing 1.5-2 Ci annually starting from early 2025. This supply will be crucial to the pharmaceutical industry's ongoing drug development efforts, especially as the current global output is estimated at only 3 Ci per year. With significant supply agreements already signed with various pharmaceutical companies, including major players like Bayer, PanTera is poised to fulfill over 80% of its production capacity ahead of schedule.
Leadership Insights
Sven Van den Berghe, CEO of PanTera, emphasizes that this funding round validates the company's strategic direction and unique technological capabilities. The support of seasoned investors and partners positions PanTera to revolutionize the supply of actinium-225, thus facilitating the delivery of life-saving treatments to patients globally.
The Future of PanTera and Actinium-225 Supply
Looking ahead, EQT Life Sciences' Martijn Kleijwegt reiterated the importance of PanTera’s role in addressing the pressing supply shortages of actinium-225 amidst the rising demand for innovative cancer therapies. Through strategic investments and collaboration with industry leaders, they aim to elevate PanTera’s operations, enhancing its capabilities to meet future healthcare needs.
Frequently Asked Questions
What is the purpose of the EUR 93 million raised by EQT Life Sciences?
The funds are aimed at accelerating the production of actinium-225 for targeted cancer therapies and establishing a state-of-the-art production facility.
What is Targeted Alpha Therapy?
This new cancer treatment uses alpha particles to deliver localized radiation to kill cancer cells while sparing healthy tissue, making it a promising method in oncology.
How does PanTera produce actinium-225?
PanTera utilizes a patented photo-nuclear process that converts Radium-226 into Radium-225, which decays into actinium-225, ensuring a reliable supply.
What is the expected production capacity of PanTera?
By 2029, PanTera aims to produce over 100 Curies of clinical-grade actinium-225 annually, sufficient to treat more than 100,000 patients each year.
Who are the key partners involved in this project?
Key partners include IBA, SCK CEN, and several pharmaceutical companies, which help to establish a robust supply chain for actinium-225.
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