AdvanCell, a Sydney-based biotech company using radiopharmaceutical therapies to fight cancer, secured $18 million in federal funding from the Medical Research Future Fund, or MRFF, Frontiers Initiative. The funding is a pivotal step in advancing prostate cancer treatment, according to the company.
AdvanCell develops targeted alpha therapies, also known as TATs, which are used as a form of cancer treatment. Its proprietary TAT, Lead-212, uses radiopharmaceuticals to deliver radiation directly to cancer cells while minimizing risk to healthy cells. Currently in clinical trials, Lead-212 is a novel therapeutic, but with the new funding, AdvanCell plans to advance the clinical platform.
“Targeted alpha therapies are among the most promising in oncology. We believe this MRFF-funded research can be practice changing and have a lasting positive impact on the lives of patients with prostate cancer,” Dr. Anna Karmann, AdvanCell’s Chief Medical Officer, said in a statement.
Additionally, the company will look to develop combination therapies with academic partners. Combination therapies will enable AdvanCell and its partners to support better medical outcomes for patients.
Prior to the latest funding infusion, AdvenCell raised $112 million in a Series C round co-led by Abingworth, Sanofi Ventures, SymBiosis and SV Health Investors.
