Nucleus RadioPharma Secures Series A Extension Funding with AstraZeneca Investment

ROCHESTER, Minn.--(BUSINESS WIRE)-- Nucleus RadioPharma, the world’s first fully integrated development, manufacturing, and supply chain organization for radiopharmaceuticals, today announced the closing of a Series A extension round with new investor AstraZeneca (LSE/STO/Nasdaq: AZN). AstraZeneca joins existing investors from GE Healthcare, Mayo Clinic, Eclipse Ventures, Fox Chase Cancer Center, Echo Global Granger Management Mercy Health, and the University of Missouri as Nucleus expands development, supply, and commercial manufacturing capabilities to make targeted radiotherapies and theranostics more accessible to patients globally. Concurrent with the financing, Tyrell Rivers, PhD, Executive Director of Corporate Ventures at AstraZeneca, was named to the Board of Directors.

Theranostics combines diagnostics and therapeutics for personalized cancer treatment using radiotracers that selectively bind to specific cancer cells. A low-dose radiotracer helps visualize tumors, guiding targeted therapy, while a higher-dose radiotracer delivers potent radiation to kill cancer cells with minimal damage to healthy tissues. This precision approach reduces side effects compared to traditional treatments and shows promise in treating metastatic cancers like neuroendocrine tumors, prostate cancer, and lymphoma.

“Theranostic radiopharmaceuticals represent a new hope for millions of people with limited treatment alternatives,” said Nucleus RadioPharma CEO Charles S. Conroy. “These drugs, designed for precise targeting, are demonstrating remarkable effectiveness while upholding an exceptional safety record. The funding expands the accessibility and impact of these life-saving treatments, paving the way for large-scale production and instilling optimism in those with limited options.”

Dr. Tyrell Rivers is Executive Director of Corporate Ventures at AstraZeneca, where he is responsible for creating and executing innovative, value-enhancing business strategies. Prior to assuming this role in 2014, he worked at MedImmune Ventures, specializing in life science investing. Earlier in his career, Dr. Rivers held various positions at Merck & Co., where he led technical support for commercial vaccines and directed global business initiatives for accessing key technologies for research and development. He is a Board member of ADC Therapeutics, Cellectis, Cerapedics, and Quell Therapeutics. Dr. Rivers holds his B.S. in Chemical Engineering from the Massachusetts Institute of Technology, a Ph.D. in Chemical Engineering from the University of Texas at Austin, and an M.B.A. from the New York University Stern School of Business.

With more than 20 years of supporting business initiatives in the investment and life science sectors, Dr. Rivers brings extensive experience in aiding company growth, directing corporate strategy, and establishing financially sound businesses.

Conroy added: “The support of AstraZeneca and Tyrell on the board has ignited our excitement as this funding will facilitate the expansion of our development, supply, and commercial manufacturing capabilities, ultimately enhancing global accessibility to targeted radiotherapies and theranostics for patients worldwide.”

Radiopharmaceuticals offer precise cancer treatment, but the intricate supply chain, akin to managing a rapidly melting ice cube, demands precise timing due to the perishable nature of radioactive materials, consequently restricting patient access. Nucleus RadioPharma is at the forefront of addressing these challenges by enhancing manufacturing and supply chain efficiency, to broaden the accessibility of radiopharmaceuticals as a promising frontier in oncology.

About Nucleus RadioPharma

Nucleus RadioPharma is an innovative CDMO in the radiopharmaceutical industry, dedicated to the development and manufacturing of targeted radiotherapies. With an emphasis on innovation and quality, the company provides an array of services, from formulation and analytical development to regulatory documentation and drug product manufacturing. Nucleus RadioPharma’s technology platforms are at the forefront of radiopharmaceutical research, designed to advance new therapies through clinical trials to commercialization. Recognized for its flexible approach, the company offers multiple onboarding points to accommodate innovators at various stages of their product lifecycle. Backed by Eclipse, GE HealthCare, Echo Global, Fox Chase Cancer Center, Granger Management, Mayo Clinic, Mercy Health, and University of Missouri, Nucleus RadioPharma stands well-supported by leading institutions and organizations committed to advancing healthcare through innovative solutions. Please visit nucleusrad.com and follow us on LinkedIn for more information.

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