Nuclidium Secures $99M Series B for Innovative Copper-Based Radiopharmaceuticals

Swiss-German biotech company Nuclidium has raised 79 million Swiss francs ($99 million) in a Series B funding round to advance its novel copper-based radiopharmaceutical platform. The investment, led by Kurma Growth Opportunities Fund, Angelini Ventures, Wellington Partners, and Neva SGR, aims to propel the development of Nuclidium's diagnostic and therapeutic oncology pipeline.

Copper-Based Technology: A New Frontier in Radiopharmaceuticals

Nuclidium's platform stands out in the rapidly evolving radiopharmaceutical landscape by utilizing copper-based payloads instead of the more common actinium or lutetium isotopes. The company claims this approach offers several advantages:

• Higher therapeutic doses per tumor volume
• Lower overall radiation burden, enhancing safety
• Easier manufacturing process with more accessible raw materials
• Reduced radioactive waste
• No requirement for a nuclear reactor

The biotech's lead program, NuriPro, targets metastatic castration-resistant prostate cancer. Recent Phase I data demonstrated that NuriPro, when used as an imaging agent for positron emission tomography, detected additional lesions in 50% of patients compared to standard 18F-piflufolastat-based scans. Importantly, Nuclidium's copper-based tracer maintained superior lesion visualization up to four hours post-administration.

Clinical Pipeline and Future Directions

Nuclidium is advancing several programs through its clinical pipeline:

1. NuriPro: The diagnostic application has completed Phase I, while the therapeutic component is poised to enter early-stage studies.

2. TraceNET: A breast cancer program in mid-stage development for diagnostic applications, with therapeutic applications about to commence Phase I trials.

Both NuriPro and TraceNET have shown promising early therapeutic findings, with "strong" tumor-to-background ratios reported by the company.

CEO Leila Jaafar, Ph.D., emphasized the platform's potential, stating, "Our groundbreaking next-generation copper theranostic platform also allows us to rapidly develop new targets across a wider range of cancers, particularly those highly relevant to women's health."

Industry Context and Market Outlook

Nuclidium's substantial funding round reflects growing interest in the radiopharmaceutical sector from both investors and pharmaceutical giants. The field is projected to expand from $9.1 billion in 2023 to $26.5 billion by 2031, according to Insight Partners.

Major pharmaceutical companies are actively pursuing radiopharmaceutical assets:

• Novartis leads with approved therapies Pluvicto and Lutathera
• Bristol Myers Squibb acquired RayzeBio for $4.1 billion in December 2023
• AstraZeneca purchased Fusion Pharmaceuticals for $2.4 billion in March 2024

As Nuclidium advances its unique copper-based platform, it aims to address current limitations in radiotheranostics, potentially reshaping the landscape of precision oncology. The company plans to use the Series B proceeds to expand its radioisotope manufacturing network, grow its international team, and strengthen collaborations with hospitals and academic centers in Europe and North America.