Brandon Capital portfolio company AdvanCell raises US$315 million to accelerate next generation of targeted alpha therapies
July 15, 2026
Melbourne, Australia, 15 July 2026
Brandon Capital portfolio company AdvanCell has closed an oversubscribed and upsized US$315 million Series D financing, one of the largest private financings globally in the radiopharmaceutical sector, positioning the company to advance its lead targeted alpha therapy into Phase 3 development while significantly expanding its manufacturing and isotope supply capabilities.
The financing was led by Ally Bridge Group and co-led by Alpha Wave, with participation from leading global healthcare investors including Bain Capital Life Sciences, Fidelity Management & Research Company, T. Rowe Price, a leading sovereign wealth fund, Eventide Asset Management and Velosity Capital. Brandon Capital participated alongside existing investors including Eli Lilly and Company, Sanofi Ventures, SV Health Investors, Abingworth and Catalio Capital Management.
The proceeds will support the continued development of ADVC001, AdvanCell’s Lead-212 PSMA-targeted radioligand therapy for metastatic prostate cancer, advancing the program towards Phase 3 clinical development. The financing will also expand the company’s vertically integrated radiopharmaceutical platform, strengthen isotope supply, grow U.S. manufacturing infrastructure and accelerate its broader pipeline of targeted alpha therapies.
Targeted alpha therapies represent one of the fastest-growing areas in oncology, combining precision targeting with highly potent cancer cell killing. By integrating isotope supply, manufacturing and clinical development into a single platform, AdvanCell is addressing one of the industry’s most significant barriers to scaling these therapies for patients worldwide.
AdvanCell’s lead program, ADVC001, is currently in Phase 2 clinical development for metastatic prostate cancer. Designed to selectively deliver Lead-212 alpha radiation directly to tumour cells while minimising exposure to healthy tissue, the therapy has demonstrated encouraging anti-tumour activity and favourable tolerability in early clinical studies.
Concurrent with the financing, Andrew Lam, Managing Director and Head of Biotech Private Equity at Ally Bridge Group, and Nik Economopoulos, Director of Life Sciences Investments at Alpha Wave, have joined AdvanCell’s Board of Directors, further strengthening the company’s global leadership as it enters its next phase of growth.
Founded in Australia and now operating across Australia and North America, AdvanCell continues to build one of the world’s leading radiopharmaceutical platforms, with the ambition of delivering next-generation targeted alpha therapies to patients with cancer worldwide.
For Brandon Capital, the financing represents another significant milestone in supporting Australian-founded companies to become globally competitive biotechnology leaders capable of attracting international capital, building advanced manufacturing capability and delivering innovative medicines to patients.
ENDS
