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
Perpetual Atomics Ltd, QSA Europe, QSA Global and Reef Origin to Collaborate on Building Radioisotope Power Systems in Europe18.2.2026 17:44:00 EET | Press release
Perpetual Atomics Ltd, QSA Europe (a trading name of Loma Systems s.r.o.), QSA Global, Inc., and Reef Origin signed an MOU in Prague to collaborate on the industrialized production of radioisotope power systems in Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260218036211/en/ Teams from Perpetual Atomics & QSA Global (USA and Czechia) at the facilities in Czechia This MOU builds on the existing collaboration between QSA Global, Inc. and Perpetual Atomics Ltd by expanding and strengthening the capacity and capability to produce radioisotope power systems in Europe. The key partnership with QSA Europe provides access to existing facilities, capabilities, knowledge, and know-how for the storage, handling, and distribution of commercial radioisotope systems for terrestrial applications. This capability is directly transferable to radioisotope power technologies for space. Radioisotope and nuclear power technologies are
Andersen Consulting Broadens Data and Analytics Capabilities with Insight Consulting18.2.2026 16:30:00 EET | Press release
Andersen Consulting adds depth to its platform through a Collaboration Agreement with Insight Consulting, a leading data and digital strategy consultancy with a presence in South Africa, Mozambique, and the UK. Insight Consulting provides end-to-end services across the digital value network, including digital strategy, digital fluency, enterprise AI, custom software development, data integration, analytics, and planning and forecasting. Its multidisciplinary teams bring expertise in people, technology, and process, ensuring that effective change management encompasses all three of these elements. The firm works across industries such as retail, logistics, hospitality, finance, manufacturing, travel, agriculture, automotive, and healthcare. “Collaborating with Andersen Consulting gives us access to a wider global footprint and advanced methodologies, while also allowing us to contribute our regional knowledge and expertise in data and analytics,” said Sean Taylor, director of Insight Co
Cubic Corporation Optimizes SAP Support with Rimini Street to Accelerate Modernization18.2.2026 16:00:00 EET | Press release
Rimini Street, Inc. (Nasdaq: RMNI), the Software Support and Agentic AI ERP Company™, and the leading third-party support provider for Oracle, SAP and VMware software, today announced Cubic Corporation, innovation technology provider for the defense and transportation industry, has partnered with Rimini Street to support its strategy to modernize while maintaining SAP ECC as a stable core and to explore AI and automation initiatives across its broader application landscape. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260218871248/en/ Cubic Corporation Optimizes SAP Support with Rimini Street to Accelerate Modernization The strategy to forgo an expensive upgrade to S/4HANA and instead support and optimize its systems with Rimini Street has enabled Cubic to free up significant resources of people, time and money to reinvest in feature-rich applications, leading-edge AI technologies and efficiency initiatives, including impr
Safe Software Launches FME Flow Availability in AWS Marketplace18.2.2026 16:00:00 EET | Press release
Today, Safe Software, the creator of FME, the All-Data, Any-AI enterprise integration platform with true support for spatial data, announced that FME Flow is now available in AWS Marketplace, which helps organizations easily discover, try, test, buy, deploy and manage thousands of software solutions, including pre-built AI agents and ready-to-integrate tools, all in one convenient destination. Amazon Web Services (AWS) customers can now purchase FME Flow directly within AWS Marketplace, simplifying billing and procurement and providing faster access to Safe Software’s enterprise-grade data automation capabilities. Safe Software’s FME connects all data across data velocities, locations, and types. FME Flow delivers many data workflow services to enterprise users. Availability in AWS Marketplace allows organizations to streamline the purchase and management of FME Flow directly within their AWS Marketplace account. “As the data landscape becomes increasingly complex and distributed, flex
FDA Approval Granted for Commercial Manufacturing at Rezon Bio's Warsaw-Duchnice Facility18.2.2026 15:01:00 EET | Press release
Rezon Bio announces that its Warsaw-Duchnice facility has received approval from the U.S. Food and Drug Administration (FDA) for the commercial manufacturing of a biosimilar. This milestone represents an important step in the continued development of Rezon Bio’s global manufacturing network and reflects the company’s focus on building robust, compliant, and reliable capabilities to support biologic therapies for patients worldwide. The FDA approval of the Warsaw-Duchnice facility follows a comprehensive review process and reflects the maturity of the site’s quality systems, technical capabilities, and operational readiness for commercial supply to the US market. This approval is coming subsequent to previous EMA GMP certification and approval for commercial supply to European markets. Such approval further strengthens Rezon Bio’s ability to support clients in needs to supply EU and US territories and enhances its position as a reliable partner within the Contract Development and Manufa
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