Blue Earth Therapeutics: Radiopharmaceuticals Developer Raises $76.5 Million (Series A)

By Amit Chowdhry ● Nov 12, 2024

Blue Earth Therapeutics, a leader in the development of therapeutic radiopharmaceuticals, announced the the closing of a $76.5 million Series A funding. The funding round was led by Soleus Capital and co-led by Sands Capital Management, with existing investor Bracco Imaging SpA also participating. Woodline Partners and PBM Capital also joined the financing as new institutional investors.

The new funding comes from a broad spectrum of experienced biotech investors and enables Blue Earth Therapeutics to advance its clinical-stage PSMA-targeted radioligand therapies further.

David Canner from Soleus Capital and Michael Ginder from Sands Capital Management are joining the Board, along with representatives from Bracco Imaging SpA and experienced industry CEO David Gauden.

KEY QUOTES:

“With the new investors and the team we have assembled, we now have a great mix of expertise and the resources to further our mission to develop radioligand therapies with the potential to improve patient outcomes by delivering high radiation doses to tumours without compromising on normal organ safety. With our recent announcement on completion of the Phase 1 clinical trial, we are making excellent progress on both our beta emitter Lutetium (177Lu) rhPSMA-10.1 and alpha emitter Actinium (225Ac) rhPSMA-10.1 agents and look forward to sharing further progress updates.”

  • David Gauden, Blue Earth Therapeutics CEO

“The establishment of PSMA-targeted radiopharmaceuticals as a class of therapy in prostate cancer represents a huge opportunity to improve outcomes for prostate cancer patients. Our new investors share our strong belief that Blue Earth Therapeutics’ radiohybrid agents could be a significant improvement over currently approved treatment options.”

  • Fulvio Renoldi Bracco, CEO of Bracco Imaging SpA

“We have observed the rapid acceptance of PluvictoÒ as the first PSMA-targeted radioligand therapy for the treatment of prostate cancer, and at the same time see opportunities to do better. The early data the company has developed supports differentiation and gives us confidence to invest in the Blue Earth team.  We look forward to advancing Blue Earth Therapeutics’ compounds to later stage trials”.

  • David Canner, partner at Soleus Capital
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