AdvanCell Closes A$18M Series B Funding Led by Morningside
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
Seven2 and HRK LUNIS Announce Successful Double Closing17.9.2025 11:01:00 EEST | Press release
Seven2, a leading European private equity firm, and HRK LUNIS, one of the leading independent wealth managers in Germany, have successfully completed both the majority stake acquisition of HRK LUNIS by Seven2, announced in March of this year, and the merger with Grossbötzl, Schmitz & Partner, announced in April. The smooth approval process is a positive sign for the German wealth management market and underlines the stability of the sector. With the completed double closing, HRK LUNIS's client assets under management have increased to approximately €7.5 billion and the number of employees to 120. The acquisition of HRK LUNIS is Seven2’s first investment in Germany, marking a key strategic milestone to further expand the private equity firm's position in Europe. Together with Seven2, HRK LUNIS will continue its growth trajectory, further develop its product offering, and optimize its digital capabilities to drive maximum customer benefits. The company offers a broad and competitive rang
Quectel Appoints Natasha Barrios as Senior Vice President of Sales for EMEA Region17.9.2025 11:00:00 EEST | Press release
Quectel Wireless Solutions, an end-to-end global IoT solutions provider, is pleased to announce the appointment of Natasha Barrios as Senior Vice President of Sales for the EMEA region. Natasha transitions to the role from her position as Vice President of Sales for North America where she helped to shape Quectel’s North American sales strategy, delivering exponential revenue growth across the region and scaling the team tenfold since 2017. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250917625759/en/ Quectel appoints Natasha Barrios as Senior Vice President of Sales for EMEA region As part of her new role in EMEA, Natasha will spearhead the strategy to expand the reach of Quectel’s comprehensive portfolio of IoT products and services and drive continued year-over-year sales growth in EMEA. Her leadership and methodology is grounded in Quectel’s values of dedication, preparation, focus, innovation and mutual success with c
ISN ® Partners with Esso Exploration Angola Limited to Advance Contractor Management17.9.2025 11:00:00 EEST | Press release
ISN, the global leader in contractor and supplier information management services, announced the expansion of ISNetworld to Esso Exploration Angola Limited, an ExxonMobil affiliate, specialized in oil exploration and production. Through this collaboration, ISN will support Esso Angola in streamlining contractor management and oversight, meeting local compliance requirements, and increasing visibility into worker-level training and competency. “ExxonMobil has been a trusted partner of ISN for many years, and we are excited to continue our relationship with the Esso Angola team,” said David Bibby, Vice President of Europe, MEA, and APAC Operations at ISN. “This next step gives ExxonMobil’s team the tools to help standardize operations internationally, and create safer, more efficient job sites around the globe.” Building on a relationship that spans more than two decades with ISN, Esso Angola will leverage tools and services, such as Training Qualification and the Online Training tool, t
ThinkPalm and RAD Join Forces to Deliver a Smart Business IoT Solution, Offering CSPs a Competitive Edge17.9.2025 10:00:00 EEST | Press release
ThinkPalm and RAD have partnered to integrate NetvirE, ThinkPalm’s advanced IIoT platform, and RAD’s Smart Business IoT solution to enable smarter industrial operations. This collaboration gives Communication Service Providers (CSPs) a competitive edge in digital transformation, remote asset management, and IoT services. 360°, End-to-End IoT Offering The Smart Business IoT solution combines advanced IoT gateways, smart sensors, and intelligent dashboards into one integrated system. It delivers real-time, historical, and AI-driven insights for remote monitoring, predictive maintenance, and activity detection, enabling CSPs to move beyond SIM-based plans and offer high-value, integrated solutions for smarter asset decisions without requiring IT expertise. Expanding CSP Horizons in the UK and Europe For CSPs in competitive markets like the UK and Europe, ThinkPalm’s expertise combined with RAD's industry leadership offers an unparalleled advantage. Together, they deliver secure, tailored
EADV 2025: Almirall Advances Skin Science and Leads Innovation for Holistic Patient Care in Medical Dermatology17.9.2025 09:57:00 EEST | Press release
Almirall, S.A. (ALM) a global biopharmaceutical company dedicated to medical dermatology, is a major contributor to the 2025 European Academy of Dermatology and Venereology Congress (EADV) presenting new data across its broad portfolio of dermatological treatments including new real-world data of lebrikizumab on atopic dermatitis, new clinical data of tildrakizumab on psoriasis and tirbanibulin on actinic keratosis. The 34th EADV congress will take place from September 17 to 20 in Paris, France. At the congress, Almirall contributes a total of 44 scientific abstracts focused on advancing patient care across the company’s broad portfolio of dermatological treatments including atopic dermatitis, psoriasis, actinic keratosis, and hidradenitis suppurativa. With a strong emphasis on real-world evidence, patient-reported outcomes, and well-being, Almirall’s scientific programme includes multiple presentations, two expert-led symposia on psoriasis and atopic dermatitis, and an interactive exh
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