Financing co-led by new investors Sofinnova Investments and B Capital, along with an existing investor with continued support from F-Prime, Omega Funds, and Third Rock Ventures.
Additional new investors include Qatar Investment Authority and Alexandria Venture Investments.
Funding will support the advancement of lead asset AB001 through Phase II development, the progress of additional undisclosed programs toward IND readiness, and the expansion of a unique supply chain leveraging ARTBIO's proprietary generator technology.
CAMBRIDGE, Mass. and OSLO, Norway, July 29, 2025 /PRNewswire/ -- ARTBIO, Inc. ("ARTBIO"), a clinical-stage radiopharmaceutical company developing a new class of alpha radioligand therapies (ARTs) to treat a range of cancers, today announced the closing of a $132 million Series B financing co-led by new investors Sofinnova Investments and B Capital along with a life sciences dedicated investment fund that invested previously. Further support came from existing investors F-Prime, Omega Funds, and Third Rock Ventures, and new investors Qatar Investment Authority and Alexandria Venture Investments. These proceeds will be used to advance the company's development of ARTs.
"This sizable investment from both existing and new investors will enable ARTBIO to continue innovating therapies that treat a range of deadly cancers with power and precision," said Emanuele Ostuni, Ph.D., CEO of ARTBIO. "Our team is grateful for the investment and recognition of the need to build a supply chain that matches the properties of the therapies and the unique payload that we use."
This latest round of funding will support the advancement of ARTBIO's pipeline, including its lead program, AB001, for metastatic castration-resistant prostate cancer, through Phase II clinical trials, and enable continued expansion of the company's supply chain. The company plans to rapidly advance its manufacturing network infrastructure to supply global clinical trials, and ultimately, commercialization.
"ARTBIO's approach to ART has the potential to positively change standards of care in cancer," said Robert Mittendorff, M.D., General Partner at B Capital. "ARTBIO's lead asset, AB001, is designed to fully harness the unique power of lead-212. My team and I are excited for what's to come."
A critical enabler of ARTBIO's success is its patented AlphaDirect isotope isolation technology, which enables flexible production of clinical-grade lead-212 (212Pb) and therapeutic doses daily. This is achieved by a strategically distributed manufacturing network, improving access and de-risking common supply chain issues.
"With a differentiated ART portfolio and integrated manufacturing approach, ARTBIO represents the ideal company that we look to partner with," said Maha Katabi, Ph.D., General Partner at Sofinnova Investments. "Equally impressive is their proprietary generator technology which is a game-changer for navigating around supply and production challenges for radioisotopes in today's complex environment."
About ARTBIO
ARTBIO is a clinical-stage radiopharmaceutical company redefining cancer care by creating a new class of alpha radioligand therapies (ARTs). The unique ARTBIO approach selects the optimal alpha-precursor isotope (Pb212) and tumor-specific targets to create therapeutics with the potential for highest efficacy and safety. The company's AlphaDirect technology, a first-of-its-kind 212Pb isolation method, enables a distributed manufacturing approach for the reliable production and delivery of ARTs. ARTBIO is advancing multiple pipeline programs with lead program AB001 in metastatic castration resistant prostate cancer currently in first in human trials. ARTBIO is shaped by a long-standing scientific legacy with nearly a century of pioneering work in radiation therapy conducted at the University of Oslo and Norway's Radium Hospital. For more information, visit www.artbio.com, and follow us on LinkedIn.
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