Actithera Secures $75.5M for Radiopharma Expansion

Massachusetts-based startup Actithera has successfully closed its series A financing, securing $75.5 million in capital to advance its innovative radiopharmaceuticals. The company focuses on developing radioligand therapies that target the fibroblast activation protein (FAP), with plans to initiate clinical studies across various indications. However, Actithera has not disclosed specific priority indications or timelines for early-stage development of its lead asset.

The series A funding round saw participation from several prominent investors, co-led by M Ventures, Actithera’s founding investor, and new lead investors Sofinnova Partners, 4BIO Capital, and Hadean Ventures. Other contributors include the second founding investor Arkin Bio Ventures II, along with Surveyor Capital and Bioqube Ventures. This influx of capital is intended not only to advance Actithera’s FAP-targeting asset but also to enhance the company’s discovery engine. This technology allows the production of radiotherapies that form covalent and irreversible bonds with their targets, thereby increasing treatment specificity.

Actithera's assets are distinguished by their isotope-agnostic nature, meaning they can be engineered to carry either alpha- or beta-emitting payloads. The covalent chemistry utilized by Actithera results in the extended retention of its radioconjugates within tumors. Andreas Goutopoulos, CEO and founder of Actithera, emphasized in a recent statement that this technology is expected to offer patients more convenient dosing schedules along with improved efficacy and safety.

The closure of the series A round marks Actithera's entry into the rapidly expanding radiopharmaceutical sector, which is largely dominated by major pharmaceutical companies. Novartis leads the market with its commercial radiotherapies, Lutathera and Pluvicto, which together generated over $2.1 billion last year. The industry trend shows big pharmaceutical companies increasingly collaborating with or acquiring smaller firms to expand their radiopharmaceutical portfolios.

Eli Lilly exemplifies this strategy, having made several deals to strengthen its position in the radiopharmaceutical domain. In October 2023, Eli Lilly acquired Point Biopharma for $1.4 billion and subsequently entered into significant agreements with other companies like Aktis Oncology and Radionetics Oncology, each valued at over $1 billion.

AstraZeneca and Bristol Myers Squibb have also engaged in major acquisitions within the radiopharmaceutical sector. AstraZeneca acquired Fusion Pharmaceuticals for $2.4 billion in March 2024, while Bristol Myers Squibb completed a $4.1 billion takeover of RayzeBio in December 2023.

Actithera's innovative approach and strategic funding position it to make significant strides in the radiopharmaceutical field, potentially offering new and effective treatments for patients with various types of cancer. As the company progresses, it will be interesting to observe how it navigates the competitive landscape and contributes to advancements in this promising area of medicine.