Radionetics Oncology – a clinical-stage radiopharmaceutical company focused on discovering and developing novel agents for treating a wide range of oncology indications – recently announced the completion of a $52.5 million Series A financing. The funding round was led by Frazier Life Sciences, 5AM Ventures, and new investor, DCVC Bio, with participation from Crinetics Pharmaceuticals and GordonMD Global Investments, raising the total to $82.5 million.
Radionetics plans to use the funding to advance its pipeline of potent, small-molecule radiopharmaceuticals targeting novel G-protein coupled receptors (GPCRs) for the treatment of a broad range of cancers.
Concurrent with the funding, Radionetics Oncology also announced the appointment of Paul Grayson as the company’s Chief Executive Officer. Grayson brings a wealth of knowledge across a broad range of technologies from his time leading cutting-edge biotech companies over the past 25 years. And he was most recently the President and CEO of Tentarix Biotherapeutics, an oncology company focused on multi-functional biologics. His previous experiences additionally include founding roles at Fate Therapeutics, BirdRock Bio (acquired by Skye Biosciences), Senomyx (acquired by Firmenich), and Aurora Biosciences (acquired by Vertex Pharmaceuticals).
KEY QUOTES:
“Powered by a team with a unique expertise in radiopharmaceuticals, GPCR biology, and small molecule chemistry, Radionetics is well-positioned to be a leader in the development of first-in-class radiopharmaceuticals. We are excited to support Radionetics in their pursuit of developing novel and potentially life-changing radiopharmaceuticals for cancer patients.”
— Eric Shiozaki, Ph.D., Partner at DCVC Bio and newly appointed Director of Radionetics Oncology
“I’m thrilled to join Radionetics at such an exciting time in the evolution of the company and radiopharmaceutical therapeutics. The spatial biology and pharmacology of GPCRs makes them ideal for small molecule radiopharmaceutical development, opening a new chapter for the field.”
— Paul Grayson, President and Chief Executive Officer
