AdvanCell Closes Oversubscribed $315M Series D Round

Editor’s Take: This financing builds on AdvanCell’s recent leadership appointments and U.S. expansion.

AdvanCell, a clinical-stage radiopharmaceutical company developing targeted alpha therapies for cancer, has closed an oversubscribed and upsized $315 million Series D financing.

The financing was led by Ally Bridge Group and co-led by Alpha Wave, alongside new investors Bain Capital Life Sciences, Fidelity Management & Research Company, funds and accounts advised by T. Rowe Price Associates Inc., Eventide Asset Management and Velosity Capital. Existing investors Morningside, Eli Lilly and Company, SV Health Investors, Sanofi Ventures, Abingworth, SymBiosis, Tenmile, Brandon Capital, Piper Heartland, Catalio Capital Management, Proto Axiom, Time BioVentures and other shareholders also participated in the round.

AdvanCell has built a vertically integrated platform centered on proprietary Lead-212 technology that combines secure isotope supply, automated manufacturing and scalable production to accelerate the development and commercial delivery of next-generation targeted alpha therapies.

The financing will advance ADVC001, an investigational Lead-212 PSMA-targeted alpha therapy, toward Phase 3 clinical development in metastatic prostate cancer, expand AdvanCell’s proprietary Lead-212 platform, strengthening isotope supply and expanding U.S. manufacturing infrastructure to support Phase 3 development and future commercial demand, and accelerate AdvanCell’s growing pipeline of targeted alpha therapies.

“This financing marks a transformational milestone for AdvanCell and reflects the conviction of an exceptional investor syndicate in the potential of ADVC001 and the innovation behind our vertically integrated Lead-212 platform,” said Philina Lee, Ph.D., CEO, AdvanCell.

Concurrent with the financing round, Andrew Lam of Ally Bridge Group and Nik Economopoulos of Alpha Wave will join AdvanCell’s Board of Directors.