Pamedic Spotlight｜The Overview of 2024 Q1 Financing for Nuclear Drug

In the first quarter of 2024, the investment and acquisition boom in the nuclear drug field continued to heat up, with Radionetics Oncology, Full-Life, Bristol Myers Squibb, Telix, Chendu New Radiomedicine Technology Co., Ltd. and many other companies announcing the completion of financing, acquisitions, and other information, which injected new impetus and vitality into the development of the nuclear drug industry.

1. Radionetics Oncology Closes Series A Financing Round of $52.5 Million

On January 3, 2024, Radionetics Oncology, Inc. announced the completion of a Series A financing round amounting $52.5 million. The round was led by Frazier Life Sciences, 5AM Ventures and new investor DCVC Bio, with Crinetics Pharmaceuticals and GordonMD Global Investments following.

Radionetics Oncology is a company focused on developing clinical-stage radiopharmaceuticals for a variety of oncology indications. The financing was raised primarily to advance its small molecule radiopharmaceutical development programme targeting novel G protein-coupled receptors (GPCRS).

2. Full-Life Completed Series B Financing Led by Prosperity7

On January 4, 2024, Full-Life Technologies Limited ("Full-Life") announced the completion of a US$63.3 million financing round.

The financing will advance its pipeline development and the construction of radiopharmaceutical production facilities.

3. BMS Acquires Nuclear Drug Firm RayzeBio for $4.1 Billion

On February 26, 2024, Bristol Myers Squibb (BMS) announced that it had completed the acquisition of RayzeBio, a nuclear drug biotechnology company, making it a wholly owned subsidiary of Bristol Myers Squibb(BMS). Under the terms of the previous merger agreement, BMS acquired RayzeBio for $62.50 per share in cash, with a total equity value of approximately $4.1 billion (about 29.2 billion yuan).

Through this acquisition, BMS secured RayzeBio's technology platform and a number of innovative products in development, significantly enriching its oncology product pipeline.

4. Telix Acquires IsoTherapeutics

On February 26, 2024, Telix Pharmaceuticals Ltd. announced that it has entered into an acquisition agreement with IsoTherapeutics.

IsoTherapeutics is a company specialising in the development of radiopharmaceuticals and biocoupled drugs. The acquisition is expected to further enhance Telix's in-house drug development capabilities and will also expand Telix's manufacturing footprint in the US.

5.Chengdu New Radiomedicine Technology Co., Ltd. Completes Series C Financing over 300 Million RMB

March 14, 2024, Chengdu New Radiomedicine Technology Co., Ltd. recently announced that it has completed a Series C financing of over 300 million RMB, which was co-invested by Chengdu Science and Technology Innovation Investment Group Co., Ltd. Chengdu Tianfu International Bio-city Development Group Co., Ltd., Si Chuan Venture Capital and other co-investors, and continued to be reinforced by existing shareholders such as Fujian Pingtan Huaxing Kangping Pharmaceutical Industry Investment Partnership (Limited Partnership), Neovision Capital, and Chengdu Guangyao Xingkong Equity Investment Management Co., Ltd..

The financing is mainly to promote the construction of its globalised platform for medical isotope preparation and innovative nuclear drugs, including the research and development of alpha nuclides, which are urgently needed by Chengdu New Radiomedicine Technology Co., Ltd. clinically, the research and development and clinical trials of innovative nuclear drugs, and the construction of 30MeV accelerator project.

In the first quarter of 2024, major companies continued to invest in technological innovation, product development and market expansion, and the nuclear medicine field continued to attract capital attention with frequent investment, financing and acquisition activities, demonstrating the broad prospects and great potential of the nuclear medicine industry. As an emerging company focusing on the field of nuclear medicine, Pamedic Holdings is committed to the research, development and production of nuclear medicine. While exploring innovative medicines, Pamedic Holdings also continues to strengthen the cooperation and exchange with international advanced technology in order to launch more innovative and leading nuclear medicine products and bring new power to the field of tumor treatment.