AdvanCell Closes A$18M Series B Funding Led by Morningside
14.9.2022 17:16:00 EEST | Business Wire | Press release
AdvanCell, an Australian radiopharmaceutical company with a platform technology for a revolutionary cancer treatment called Targeted Alpha Therapy, announced today the closing of an A$18 million Series B financing round led by Morningside.
Andrew Adamovich, CEO and Founder of AdvanCell noted, “We are very pleased with our progress to date and delighted that we will continue our rapid growth with the support of our shareholders. We have had a long-term relationship with our lead investor, Morningside, and are excited to come closer still to our goal to 'Change the Course of Cancer Treatment.'”
Targeted Alpha Therapies represent the most exciting opportunity to treat currently untreatable cancers. The technology harnesses the natural decay and radiochemical properties of certain elements, in combination with specific targeting molecules, to selectively deliver cell-killing radiation to the tumour cell. AdvanCell believes this precise and powerful treatment will rapidly become a leading pillar of cancer treatment, providing treatments for diseases for which there are currently no effective options. Targeted Alpha Therapies demonstrate incredible efficacy, however widespread adoption and large commercial product launches require a scalable and reliable global isotope supply. AdvanCell was established to solve this problem.
AdvanCell’s ability to produce isotope on-demand and at scale, and its in-house radiopharmaceutical manufacturing expertise positions AdvanCell to play a leading role in this rapidly growing market. With additional support from NSW Health Medical Devices Fund and the Federal government’s Research & Development Tax Incentive, AdvanCell has developed a world-first scalable manufacturing platform to produce alpha-emitting isotopes for research, pre-clinical and clinical use and to advance its own and its partners' radiopharmaceutical products.
Anthony Aiudi from Morningside commented, “AdvanCell is leveraging its ability to make alpha isotopes at scale and in clinically useful amounts along with its radiochemistry expertise, to develop an exciting portfolio of Targeted Alpha Therapies. Targeted Alpha Therapies hold incredible promise however their development has been hamstrung by a lack of radioisotope supply. Together with the team at AdvanCell, we look forward to writing a new chapter in oncology, to target large patient populations with significant unmet needs.”
Mr Aiudi has been appointed to the Board of AdvanCell, joining Mr Adamovich, Bill Ferris AC, co-founder of CPE Capital, Adrian “Adi” Patterson, former Australian Nuclear Science and Technology Organisation (ANSTO) CEO and Kevin Cameron, CEO of Ionetix.
Bill Ferris AC, Chair remarked, “Our executive team has articulated a credible pre-clinical and clinical pathway for the delivery of the Company’s novel Targeted Alpha Therapies. Having successfully developed the manufacturing platform essential for the reliable and scalable supply of isotopes, the Company is on schedule with its pre-clinical work and is now moving into first-in-human trials. AdvanCell is on track to become a leading radiopharmaceutical company with a platform technology enabling novel cancer treatments.”
About AdvanCell
AdvanCell is a radiopharmaceutical company developing next-generation cancer treatment. AdvanCell’s Targeted Alpha Therapies are powered by a platform technology – a world-first alpha isotope generator that addresses the greatest unmet need in Targeted Alpha Therapy – the reliable and scalable supply of isotope. AdvanCell has a world-class team and is honoured to be advised by an outstanding Board of Directors and Scientific Advisory Board. For more information visit www.advancell.com.au
About Morningside
Founded in 1986 by the Chan family, Morningside is a technology and life science venture investment firm. With offices in Boston, Shanghai and London, the firm invests globally. The group is managed by investment professionals who are entrepreneurial, have deep industry knowledge and are effective in the local environment in which they operate. Morningside partners with academic founders and entrepreneurs to build world-class companies that want to markedly improve the current state of medicine today and ultimately, the lives of patients. In addition to its investment activities, Morningside Ventures is strongly committed to social responsibility. For more information visit www.morningside.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220823005846/en/
Contact information
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
REPLY: the Board of Directors Approves the Quarterly Financial Report as of 30 September 202612.11.2026 15:41:00 EET | Press release
Today, the Board of Directors of Reply [EXM, STAR: REY] approved the results as at 30 September 2026. The Group's consolidated turnover in the first nine months of the year reached €1,987.9 million, an increase of 9.2% compared to €1,819.8 million recorded on 30 September 2025. The indicators for the period are positive. Consolidated EBITDA was €354.9 million, equal to 17.9% of the consolidated revenues. As of September 2025 EBITDA was €335.5 million. EBIT, from January to September, reached €286.7 million, equal to 14.4% of the consolidated revenues. The corresponding 2025 figure was €281.0 million. Pre-tax profit, from January to September 2026, was €291.6 million, equal to 14.7% of the revenues. As of September 2025 pre-tax profit stood at €268.1 million. For the third quarter of the year, the Group’s performance is positive, with consolidated turnover for the period of €676.0 million compared to €598.5 million of the third quarter 2025. EBITDA, from July to September 2026, was equa
Klarna Names Chris Koegel as Chief Financial Officer12.11.2026 15:30:00 EET | Press release
Klarna Group plc (NYSE: KLAR), the everyday finance network, has appointed Chris Koegel as Chief Financial Officer, effective 1 January 2027, subject to regulatory approval. The appointment has been approved and endorsed by the Klarna Group plc board. He will succeed Niclas Neglén, who will remain CFO until the end of 2026. Koegel joins from Robinhood Markets Inc. (NASDAQ: HOOD), where he is Vice President, Head of Corporate Finance and Investor Relations. He joined Robinhood in 2022 and has served on the Leadership Team through a period of significant growth; the company’s valuation has grown from less than $10bn and has exceeded $100bn during his tenure. Before Robinhood, he was Head of Investor Relations at LPL Financial LLC (NASDAQ: LPLA) from 2015 to 2022, after spending 13 years at Bain & Company. Koegel has a BA in Mathematics from Williams College, an MBA from Dartmouth College, and is based in the US in the Boston, MA area. “Chris’s experience as a Finance leader at a US-liste
SLB Selected by Vår Energi for Integrated Drilling Services Offshore Norway12.11.2026 14:50:00 EET | Press release
Global energy technology company SLB (NYSE: SLB) today announced it has been selected by Vår Energi as its main integrated drilling services supplier for the Transocean Barents and Deepsea Bergen rigs on the Norwegian Continental Shelf. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261111105994/en/ SLB (NYSE: SLB) has been selected by Vår Energi as its main integrated drilling services supplier for the Transocean Barents and Deepsea Bergen rigs on the Norwegian Continental Shelf. The selection covers an initial four-year period, with four additional one-year extension options that could extend the scope through 2034. Two harsh-environment semisubmersibles will continuously drill exploration and development wells during this period. The integrated delivery model brings together technical expertise, digital workflows and operational execution across the well delivery process. Working closely with Vår Energi and other selected
Takeda Launches ORZEYFUL™ (oveporexton), the First and Only Medicine of Its Kind for Narcolepsy Type 1 Now Available in the United States12.11.2026 14:35:00 EET | Press release
Takeda (TSE:4502/NYSE:TAK) announced that ORZEYFUL™ (oveporexton) CIV is now available in the U.S. by prescription for the treatment of narcolepsy type 1 (NT1, narcolepsy with cataplexy) in adults, bringing the first and only orexin agonist to this community. Learn more at ORZEYFUL.com. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261111123458/en/ Orzeyful Logo “Living with narcolepsy type 1 is an ongoing struggle to keep it together – from scheduling naps and anticipating sleep attacks to figuring out how to be present as a mom and a professional,” said Emily P., clinical trial participant with NT1. “With ORZEYFUL, I feel more confident planning my day because my narcolepsy has become more manageable.” Driven by orexin deficiency, the persistent 24-hour nature of NT1 affects far more than daytime sleepiness; it shapes how people plan their days and navigate many parts of their lives. What others might do without thinking
MultiBank Group and Universal Sign Agreement to Develop USDU Settlement Capabilities for Institutional Clients12.11.2026 14:02:00 EET | Press release
MultiBank Group, one of the world’s largest financial derivatives institutions, has signed a memorandum of understanding (MoU) with Universal Digital Intl Limited (“Universal”) to develop settlement capabilities using USDU, Universal’s US dollar-backed stablecoin, for eligible institutional digital asset transactions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261112192767/en/ MultiBank Group, one of the world’s largest financial derivatives institutions, has signed a memorandum of understanding (MoU) with Universal Digital Intl Limited (“Universal”) to develop settlement capabilities using USDU, Universal’s US dollar-backed stablecoin, for eligible institutional digital asset transactions. The initiative will begin with a pilot for eligible Professional Clients on mb.io, the Group’s cryptocurrency and digital asset trading platform. It combines MultiBank Group’s trading infrastructure, institutional relationships and li
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom