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Nucleus RadioPharma Secures $56M Series A to Expand Radiopharmaceutical Manufacturing Network

2 years ago2 min read
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Key Insights

  • Nucleus RadioPharma, a Mayo Clinic and Eclipse venture, has raised $56 million in Series A funding to establish a network of radiopharmaceutical manufacturing facilities across the United States.

  • The company aims to modernize clinical development, manufacturing, and supply chain for radiotherapeutics and diagnostics, addressing current limited production capacity and fragmented supply issues.

  • The funding round was led by Eclipse and GE HealthCare, with participation from multiple healthcare institutions including Mayo Clinic, Fox Chase Cancer Center, and Mercy Health.

Nucleus RadioPharma has secured $56 million in an oversubscribed Series A financing round, marking a significant expansion in the rapidly growing radiopharmaceuticals sector. The funding will support the company's mission to establish a comprehensive network of manufacturing facilities across the United States.
Founded just one year ago through a collaboration between Mayo Clinic and venture capital firm Eclipse, Nucleus RadioPharma is positioning itself as a specialized contract development and manufacturing organization (CDMO) in the radiopharmaceutical market. Industry analysts at Future Medical Insights project this sector to expand from $6 billion in 2022 to $9.5 billion by 2032.

Strategic Investment Partners

The funding round attracted prominent healthcare investors, with Eclipse and GE HealthCare leading the initiative. Additional participants include Echo Global, Fox Chase Cancer Center, Granger Management, Mayo Clinic, Mercy Health, and the University of Missouri, demonstrating broad institutional support for the company's vision.

Addressing Critical Market Gaps

Dr. Geoff Johnson, Chair of Nuclear Medicine at Mayo Clinic and Chief Scientific Officer of Nucleus, highlighted the significant unmet need in the market. "Conceivably, many cancers have the potential to be treated with a properly designed radiopharmaceutical, and yet, very few patients with cancer are receiving this kind of treatment," he explained. "Despite their promise, only a small fraction of patients are able to obtain these drugs due to limited production capacity and an outdated, fragmented supply chain."

Comprehensive Service Portfolio

Nucleus RadioPharma plans to offer end-to-end services spanning:
  • Target molecule identification
  • Treatment testing
  • Regulatory approval support
  • Development-stage manufacturing
  • Commercial-scale production

Market Dynamics and Industry Movement

The radiopharmaceutical sector has seen increasing activity from major pharmaceutical companies:
  • Eli Lilly recently announced a $1.4 billion acquisition of POINT Biopharma
  • Mariana Oncology secured $175 million in Series B funding
  • RayzeBio raised $311 million through an IPO
  • Roche's Genentech subsidiary entered a $1.04 billion licensing agreement with PeptiDream

Future Impact

Charles Conroy, Chief Executive of Nucleus RadioPharma, emphasized the therapeutic potential of radiopharmaceuticals: "As truly targeted therapies, these drugs are proving not only to be highly effective but also to maintain a superior safety profile. This funding advances the reach and impact of these life-saving agents, allowing for therapies that can be mass-produced, and offers hope to those with few alternatives."
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