PanTera's EUR 93 Million Funding to Boost Actinium-225 Supply
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PanTera's Recent Funding Marks a Milestone for Cancer Treatment
PanTera, a distinguished joint venture between IBA and SCK CEN, has recently achieved a significant milestone in its efforts to upscale the production of actinium-225, a critical radioisotope utilized in pioneering cancer therapies. Recently, the company raised an impressive EUR 93 million in an oversubscribed Series A funding round. This financial influx, led by EQT Life Sciences, positions PanTera at an elevated valuation of approximately EUR 280 million post-money and is viewed as a pivotal moment in addressing the growing demand for targeted cancer treatments.
Impact of the Funding on PanTera's Operations
Prior to this funding, IBA retained a 47.8% stake in PanTera. However, as the funding round concluded, IBA’s participation will now adjust to 31.3%. This re-evaluation is expected to yield an approximate profit of EUR 23 million for IBA over the subsequent three years. The funding will primarily be allocated to construct a cutting-edge production facility that is essential for scaling up the manufacturing of actinium-225.
The Significance of Actinium-225
Actinium-225 is emerging as a pivotal component in Targeted Alpha Therapy (TAT), a novel approach that administers radiation more precisely to cancer cells while minimizing damage to healthy tissue. The increasing need for actinium-225 arises from ongoing research and the quest for regulatory approvals, as pharmaceutical companies ramp up clinical trials for various cancer types. Unfortunately, global production methods for actinium-225 have encountered challenges, leading to a significant supply shortage.
Innovative Production Techniques
To tackle this urgent need, PanTera employs a proprietary photo-nuclear "gamma" production mechanism that converts Radium-226 into Radium-225, which subsequently decays into actinium-225. This innovative technique not only promises a dependable supply of actinium-225 but also primes the company for commercial radiopharmaceutical therapies with expected market readiness in 2028–2029. By 2029, PanTera aims to produce over 100 Curies of clinical-grade actinium-225 annually, potentially treating over 100,000 patients each year.
Partnerships and Future Goals
In conjunction with this funding, PanTera is actively securing additional support and collaborations. Notably, the company has partnered with TerraPower Isotopes to provide a supplementary actinium-225 supply through an alternative production method, targeting an output of 1.5-2 Curies annually starting in early 2025. Current global supply averages 3 Curies annually, which underscores the importance of PanTera's contributions to this area.
CEO's Vision for the Future
Sven Van den Berghe, CEO of PanTera, highlights this funding round as a testament to the company’s strategic vision. He emphasizes the collaborative efforts with seasoned partners to ensure that innovative cancer therapies reach those in need. The funding will accelerate the company’s mission to crush the actinium-225 supply shortage while striving to enhance treatment access for cancer patients worldwide.
Market Position and Investor Confidence
PanTera's recent accomplishments have attracted attention from top-tier investors, with participation from organizations such as Kurma Partners and Eurazeo. As investors express confidence in the venture’s expertise and production capabilities, PanTera is gearing up for an important phase of growth and development, cementing its role as a leader in the production of actinium-225.
Frequently Asked Questions
What is the purpose of PanTera's recent funding?
The funding aims to accelerate the production of actinium-225, essential for targeted cancer treatments, and establish a new production facility.
Who led PanTera's Series A funding round?
The funding round was led by EQT Life Sciences, along with participation from other prominent investors.
What is actinium-225 used for?
Actinium-225 is utilized in Targeted Alpha Therapy, a form of cancer treatment that delivers radiation directly to cancer cells with minimal damage to surrounding tissues.
When is PanTera expected to begin commercial production?
PanTera aims to initiate commercial-scale production by 2028-2029, supplying significant quantities of actinium-225.
How will this funding impact IBA's valuation?
This transaction is anticipated to have a positive impact of approximately EUR 23 million on IBA’s valuation over the next three years.
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