AdvanCell Successfully Completes an Oversubscribed US$112M Series C Financing
February 3, 2025
Sydney, Australia – 3 February 2025 – AdvanCell, a clinical-stage radiopharmaceutical
company developing innovative cancer therapeutics, today announced the successful
completion of an oversubscribed US$112 million Series C financing. This milestone funding
round was co-led by SV Health Investors, Sanofi Ventures, Abingworth, and SymBiosis.
Additional support came from existing investor Morningside, alongside new investors Tenmile,
Brandon Capital, and others.
Since its founding in June 2019, AdvanCell has grown from a belief in the potential of Targeted
Alpha Therapy into a global organisation with 60 passionate team members, a 40,000-squarefoot manufacturing facility, world-class pre-clinical infrastructure, a potentially best-in-class
drug for prostate cancer that is in trials, and a deep and developing pipeline of assets.
This investment will fuel AdvanCell’s ongoing efforts to expand its manufacturing capacity,
accelerate the clinical development of its pipeline of radionuclide therapies, and advance its
mission of delivering life-changing treatments to cancer patients worldwide.
AdvanCell is currently enrolling patients for the highest dose cohort of its multi-center TheraPb
Ph I/II dose escalation clinical trial of ADVC001 for metastatic prostate cancer, a potentially
best-in-class Targeted Alpha Therapy. The trial aims to demonstrate the safety and efficacy of
Pb-212-based radionuclide treatment.
As part of the financing, Jamil M. Beg from SV Health Investors, Christopher Gagliardi from
Sanofi Ventures, and Bali Muralidhar from Abingworth have joined the AdvanCell Board of
Directors. They bring extensive industry expertise to support the company’s growth and join
existing directors Bill Ferris AC, Anthony Aiudi, Kevin Cameron, and Andrew Adamovich.
Jamil M. Beg, Partner at SV Health Investors, commented:
“We are delighted to support AdvanCell’s growth and play a role in its remarkable journey
through leading this oversubscribed Series C. We have looked long and deep at the field of
radionuclide therapies and are confident that AdvanCell stands out with a first-in-class Pb-212-
PSMA program and a best-in-class manufacturing platform. The company’s exceptional team,
technologies, robust infrastructure, collaborations with some of the world’s largest pharma
companies and ability to consistently execute, position it to truly change outcomes for
patients. We are excited to help AdvanCell realize its potential in transforming cancer care
globally.”
AdvanCell was founded on the belief that Targeted Alpha Therapies could change the course of
cancer treatment and that the scalable supply of isotopes would enable the development of
multiple practice-changing drugs. Radionuclide therapies for prostate cancer and
gastroenteropancreatic neuroendocrine tumours have transformed patient care. Pb-212
Targeted Alpha Therapy has the potential to further advance this progress by leveraging the
radiobiological and physical attributes of Pb-212 to make life-changing treatments for patients.
“This successful Series C round demonstrates strong confidence in our vision and
capabilities,” said Andrew Adamovich, CEO of AdvanCell. “We are grateful for the continued
support from our existing investors, particularly the long-term support from Morningside and
are excited to welcome new partners who share our commitment to transforming cancer care.
With this funding, AdvanCell is well-positioned to scale our manufacturing operations and
progress our cutting-edge therapies towards commercialization.”
The Series C funding represents a significant step in AdvanCell’s journey to become a global
leader in radionuclide-based cancer therapeutics.
For media inquiries, please contact:
Andrew Adamovich
CEO
Email: contact@advancell.com.au
Phone: +612 8000 4199
About AdvanCell
AdvanCell is dedicated to developing innovative cancer therapies that harness the power of
targeted alpha-emitting radionuclides. By combining advanced manufacturing capabilities with
cutting-edge science and clinical development capabilities, AdvanCell aims to deliver novel
treatments that improve outcomes for cancer patients globally. For more information, visit
www.advancell.com.au.
