Primo Biotechnology, a Taiwan-based radiopharmaceutical company specializing in radioligand theranostics, announced the successful completion of its NT$220 million Series A funding round. The financing brings the company's total capital raised to over NT$500 million, including seed and early-stage investments, as it accelerates development of precision cancer treatments.
The company, led by CEO and Co-founder Dr. Ya-Yao Huang, focuses on developing next-generation radioligand theranostics (RLT) to combat cancer through precision medicine approaches. Primo's radiopharmaceutical facility recently received dual international certifications in PIC/S GMP and GDP, demonstrating adherence to the highest drug quality standards.
Commercial Partnership and Market Entry
Primo recently secured official authorization from ABX advanced biochemical compounds GmbH, a global leader in radiopharmaceuticals, to serve as the manufacturing and distribution partner in Taiwan for Radelumin ([18F]PSMA-1007), a prostate cancer diagnostic radiopharmaceutical. The product has already received marketing approval in France, Germany, the Netherlands, and several other countries.
The company began supplying Radelumin for clinical use in Taiwan in June 2025, marking its entry into the commercial radiopharmaceutical market. This partnership positions Primo as a key player in Taiwan's precision oncology landscape.
Pipeline Development Strategy
Beyond prostate cancer diagnostics, Primo is advancing clinical trial plans for pipeline candidates PB011 and PB012 to expand into additional cancer indications. The company is strategically leveraging Taiwan's Category 2 new drug registration pathway for new indications, which offers significant advantages over Category 1 pathways for new chemical entities.
This regulatory approach enables Primo to bring products to market with substantially lower cost, time, and risk compared to traditional development pathways. The strategy is expected to accelerate revenue generation and support continued investment in radiopharmaceutical innovation.
IPO Plans and Future Growth
Primo revealed plans to launch its initial public offering in 2026, with intentions to file for registration on Taiwan's TPEx Emerging Stock Board (ESB). The public market listing will provide resources to expand R&D capabilities and extend the company's international reach.
"This successful fundraising round will further accelerate our drug development programs, advancing precision radiodiagnostics and therapeutics in Taiwan," stated Dr. Ya-Yao Huang. The CEO emphasized the company's commitment to developing cutting-edge precision medicine solutions since its founding.
The combination of secured funding, commercial partnerships, and strategic regulatory positioning establishes Primo as a significant player in the rapidly growing radioligand theranostics market, with potential for substantial expansion across multiple cancer indications.
