EQT Life Sciences backs PanTera with an oversubscribed Series A
EQT Life Sciences has led an oversubscribed EUR 93 million Series A for PanTera, a company focused on producing medical radioisotopes at scale. The raise is a clear signal of momentum in life sciences and is aimed squarely at boosting the supply of actinium-225—an essential building block for next-generation, targeted cancer therapies.
Pioneering Targeted Alpha Therapy
At the center of PanTera’s plan is Targeted Alpha Therapy, a treatment approach that delivers intense, focused radiation directly to tumor cells. Instead of bathing nearby tissue in excess radiation, highly energetic alpha particles deposit their energy over a very short distance. The result: a localized effect that’s designed to spare healthy cells. Actinium-225 (225Ac) is in the spotlight because its properties make it a strong fit for these therapies—and demand is growing.
Funding overview
The Series A totals EUR 134 million. Beyond EQT Life Sciences’ lead of EUR 93 million, the round includes participation from Kurma Partners, Eurazeo, Korys, Paladin, and PMV. In addition, IBA and SFPIM are converting EUR 7.2 million in previously issued convertible loans into equity. Together, these commitments deepen the investor base and reinforce support for PanTera’s mission.
Addressing the global shortage of actinium-225
Founded in 2022, PanTera aims to solve a simple but urgent problem: there isn’t enough actinium-225 to meet clinical and future commercial needs. The company uses a photo-nuclear production process that converts Radium-226 into Radium-225, which then yields 225Ac. This route is designed to create a dependable, high-quality supply chain that can support ongoing trials and, in time, broader patient access.
Production capabilities
By 2029, PanTera plans to produce more than 100 Curies of clinical-grade actinium-225 per year—enough, by their projections, to reach over 100,000 patients annually. Two partnerships underpin this scale-up: SCK CEN, which provides a significant reserve of highly pure Radium-226, and IBA, known for advanced accelerator technology used in production.
Strategic partnerships and supply agreements
PanTera is also working with TerraPower Isotopes to add supplementary 225Ac supply of 1.5–2 Ci per year starting in early 2025. With today’s global output estimated at only 3 Ci annually, that additional material matters for drug developers running trials right now. On the demand side, PanTera has signed sizable supply agreements with multiple pharmaceutical companies, including Bayer, and expects more than 80% of its future production capacity to be committed ahead of schedule.
Leadership insights
CEO Sven Van den Berghe notes that the round validates PanTera’s strategy and technology. With experienced investors and partners aligned, the company is positioned to transform how actinium-225 is sourced—and, in turn, help enable treatments intended to reach patients worldwide.
The future of PanTera and actinium-225 supply
Looking ahead, EQT Life Sciences’ Martijn Kleijwegt underscores PanTera’s role in relieving acute 225Ac shortages as interest in innovative cancer therapies accelerates. The plan is straightforward: pair strategic capital with proven partners to scale production responsibly so the field can meet the healthcare needs that are coming.
Frequently Asked Questions
What will the EUR 93 million led by EQT Life Sciences be used for?
The funds are intended to accelerate actinium-225 production for targeted cancer therapies, including building out a state-of-the-art manufacturing setup and strengthening a reliable supply chain.
What exactly is Targeted Alpha Therapy?
It’s a cancer treatment approach that uses alpha particles to deliver concentrated radiation to tumor cells. Because alpha particles travel only a short distance, the goal is to destroy cancer cells while minimizing harm to nearby healthy tissue.
How does PanTera make actinium-225?
PanTera uses a photo-nuclear process to convert Radium-226 into Radium-225. Radium-225 then decays to actinium-225, creating a controlled pathway to a dependable supply.
How much actinium-225 does PanTera plan to produce?
By 2029, PanTera aims to produce over 100 Curies of clinical-grade actinium-225 annually, which it projects could support treatment for more than 100,000 patients each year.
Who are the key partners supporting this effort?
Key partners include SCK CEN, which supplies a substantial reserve of pure Radium-226; IBA, known for advanced accelerator technology; TerraPower Isotopes for supplementary supply; and several pharmaceutical companies—among them Bayer—through significant supply agreements.
