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
SCP Standard Capital Partners AG Completes Its Strategic Shift Towards Defence Technology Through the Acquisition of Vanea Technologies GmbH and Nocturne Technologies GmbH – Plans to Change Its Name to VANEA AG25.8.2026 13:26:00 EEST | Press release
SCP Standard Capital Partners AG (“SCP” or the “Company”) has today agreed to acquire all shares in Vanea Technologies GmbH (“VANEA”) and Nocturne Technologies GmbH (“Nocturne”). The shares will be acquired by way of capital increases in kind, utilising the Authorised Capital 2026, in return for the issue of new shares and cash compensation. VANEA is a young technology company specialising in the development of defence solutions for the dawning era of autonomous warfare. Nocturne, based in Osnabrück – also known as Nocturne Defence – specialises in forward-looking solutions in the field of civil and military counter-UAS systems (drone defence). The purchase price for the acquisition of VANEA is in the low six-figure range and comprises a cash component and a share component. The purchase price for the acquisition of Nocturne comprises a cash component and a share component, which together amount to a figure in the high six-figure range. Going forward, the Company will focus on developi
INSEAD Marks the First Milestone in Its Europe Campus Re-imagination25.8.2026 13:07:00 EEST | Press release
INSEAD, The Business School for the World, yesterday inaugurated the Tour Desmarais, marking a major milestone in its Europe Campus Re-imagination (ECR)—a ten-year, €350 million investment totransform its campus in Fontainebleau for the future of business education and learning. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260825752920/en/ From left: Charles Desmarais, Maria Desmarais, Nicolas Desmarais, Paul Desmarais MBA'79, Helene Desmarais, Jean-Michel Wilmotte, Francisco Veloso, Paul Desmarais III MBA'10J, Borina Andrieu The inauguration took place in the presence of members of the Desmarais family, public officials, members of the INSEAD community, partners and distinguished guests from across the business, academic and philanthropic communities. Nestled within one of Europe's most iconic forests, the INSEAD Europe Campus has welcomed students, executives, researchers and entrepreneurs from around the world for more
CTC Global Expands Advanced Conductor Portfolio with ACCC® Plus Conductor25.8.2026 13:00:00 EEST | Press release
CTC Global, the world’s leading developer and manufacturer of high-capacity Advanced Conductors, today announced the introduction of the ACCC® Plus Conductor, an enhanced addition to the ACCC® Conductor family. Utilities are facing a new set of transmission planning challenges, as load growth, generation shifts, interconnection queues, permitting constraints, and evolving reliability requirements put increasing pressure on both existing and new transmission infrastructure. Utilities must quickly add capacity while managing project costs, clearance constraints, structure requirements, and long-term performance. Built on highly proven ACCC® Conductor Technology, the ACCC® Plus Conductor is designed to deliver greater mechanical performance, improved efficiency, and enhanced sag performance, while offering greater design flexibility for demanding transmission line applications. The new conductor option features a higher-strength, higher-modulus core than standard ACCC® Conductor, supporti
From Factory to Field: emnify Launches OEM Program with Free SGP.32 Bootstrap Connectivity25.8.2026 11:00:00 EEST | Press release
emnify, a global provider of cloud-native IoT connectivity, today announced a new program for original equipment manufacturers (OEMs) building connected products for international markets. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260825932817/en/ From Factory to Field with SGP.32 Bootstrap Connectivity The program addresses two common challenges for OEMs: testing and configuring devices that would otherwise leave the factory without connectivity and managing customer-specific physical SIMs throughout production and fulfilment. It enables OEMs to ship a single device SKU globally with built-in SGP.32 bootstrap connectivity, allowing each device to connect to the relevant device-management system for connectivity testing, configuration, and digital eSIM profile provisioning - from the factory onward. Free emnify SGP.32 bootstrap profiles are available for every connected device across an OEM’s production volumes - not on
Nessum Adoption Expands Across Global Energy-Management Infrastructure25.8.2026 11:00:00 EEST | Press release
Nessum Alliance*2 today announced the expansion of Nessum technology in commercial HVAC and smart grid applications through deployments by Alliance members Daikin Industries, Ltd. and Power Plus Communications AG (PPC). The Alliance also noted that cumulative worldwide shipments of LSI devices incorporating Nessum IP have surpassed six million units, according to Panasonic Holdings Corporation, the technology licensor, underscoring its maturity and market adoption. As energy management, digitalization, and sustainable infrastructure accelerate worldwide, organizations need communications networks that combine reliability and flexibility. By enabling high-speed IP communications over existing wiring, Nessum is expanding its role across energy-management applications. Deployments by Daikin and PPC demonstrate how IEEE 1901*3-based Nessum technology delivers value in real-world infrastructure environments, connecting systems, devices, and operational data across critical sectors. In the H
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