CPE News (4/29/2021) – Alpha-9 Theranostics Inc. has raised US $11 million in Series A funding led by Longitude Capital with participation from BVF Partners L.P. and insiders.
Dr. David Hirsch, Managing Director and founder of Longitude Capital, will join Alpha-9 board of directors.
Funding will be used to advance a portfolio of novel radiotherapeutics and diagnostics.
Vancouver based Alpha-9 Theranostics is a clinical stage, radiopharmaceutical company developing imaging and therapeutic molecules for solid and hematologic malignancies. Using proprietary technology and the company’s expertise, these differentiated molecules have the potential to meaningfully extend patients’ lives with favorable safety profiles.
Alpha-9 Theranostics has previously been funded by private investors from BC and USA.
photo credit: Alpha-9 Theranostics
Alpha-9 Theranostics Announces $11 Million Series A Financing to Advance Portfolio of Radiotherapeutics and Diagnostics
April 28, 2021 07:00 ET | Source: Alpha-9 Theranostics Inc.
VANCOUVER, British Columbia, April 28, 2021 (GLOBE NEWSWIRE) — Alpha-9 Theranostics Inc. announced today an $11 million Series A financing to advance a portfolio of novel radiotherapeutics and diagnostics. Longitude Capital led the financing with participation from BVF Partners L.P. and insiders.
“We are delighted that Longitude and BVF are investing in Alpha-9,” said Simon Pimstone, MD, PhD, Chairman of the Board of Directors. “These high-quality investors share our conviction in the promise of radiotherapeutics and diagnostics.” David Hirsch, MD, PhD of Longitude Capital remarked, “Alpha9 is an exciting company, founded by leaders in the field, with a growing portfolio of novel assets. We believe that radiotherapeutics have the potential to deliver on the promise of precision oncology and we look forward to working with the Alpha-9 team to advance multiple programs into clinical trials.”
Alpha-9 Theranostics is a clinical stage, radiopharmaceutical company developing imaging and therapeutic molecules for solid and hematologic malignancies. Using proprietary technology and the Company’s expertise, these differentiated molecules have the potential to meaningfully extend patients’ lives with favorable safety profiles. Alpha-9 was founded by researchers from the University of British Columbia and BC Cancer, with the goal of improving the lives of patients affected by metastatic cancers. For more information, please visit www.alpha9tx.com.
About Longitude Capital
Longitude Capital is a leading healthcare venture capital firm that invests in transformative biotechnology, medical technology and health solutions companies seeking to improve clinical outcomes, enhance quality of life, and drive efficiency of healthcare delivery. Founded in 2006, Longitude Capital invests in both privately held and publicly traded companies through a variety of investment approaches. Longitude Capital has offices in Menlo Park, CA, Greenwich, CT, and Boston, MA. For more information, please visit www.longitudecapital.com or LinkedIn.
David Hirsch MD, PhD