Radiopharma start-up Alpha-9 Oncology secures $175 million

Alpha-9 Oncology, a Canadian radiopharmaceutical company, has raised $175 million in an oversubscribed series C financing round led by Lightspeed Venture Partners and Ascenta Capital.

Chief executive David Hirsch said the fundraise was “an exciting, significant milestone for us”, adding it would: “greatly accelerate our growth."

Alpha-9’s portfolio covers multiple first-in-class and best-in-class radiopharmaceuticals (RLT). RLTs are gaining traction, with larger companies such as Eli Lilly (NYSE: LLY) and Bristol Myers Squibb (NYSE: BMY) incorporating actinium isotopes into their pipelines.