Goodwin Advises ARTBIO in $132 Million Series B Financing to Advance Pipeline of Alpha Radioligand Therapies

The Life Sciences team advised ARTBIO in the closing of a $132 million Series B financing co-led by new investors Sofinnova Investments and B Capital along with a life sciences dedicated investment fund that invested previously. Further support came from existing investors F-Prime, Omega Funds, and Third Rock Ventures, and new investors Qatar Investment Authority and Alexandria Venture Investments. These proceeds will be used to advance the company's development of ARTs. This latest round of funding will support the advancement of ARTBIO's pipeline, including its lead program, AB001, for metastatic castration-resistant prostate cancer, through Phase II clinical trials, and enable continued expansion of the company's supply chain.

ARTBIO is a clinical-stage radiopharmaceutical company redefining cancer care by creating a new class of alpha radioligand therapies (ARTs). The unique ARTBIO approach selects the optimal alpha-precursor isotope (Pb212) and tumor-specific targets to create therapeutics with the potential for highest efficacy and safety. The company's AlphaDirect™ technology, a first-of-its-kind 212Pb isolation method, enables a distributed manufacturing approach for the reliable production and delivery of ARTs. ARTBIO is advancing multiple pipeline programs with lead program AB001 in metastatic castration resistant prostate cancer currently in first in human trials. ARTBIO is shaped by a longstanding scientific legacy with nearly a century of pioneering work in radiation therapy conducted at the University of Oslo and Norway's Radium Hospital.

The Goodwin team was led by Catherine Magazu, Kingsley Taft, Kristen McCarthy, and Daniela Sanchez.

For more information on the deal, please read the press release and coverage in Endpoints News and STAT News.