Alpha-9 Oncology Inc has announced that it has received $175 million from Lightspeed Venture Partners and Ascenta Capital in the Series C round including from existing investors and other top-tier new investors.
The company got the backing of a top-tier syndicate of investors, which includes big names like General Catalyst, Delos Capital, a16z Bio + Health, Janus Henderson Investors, RA Capital Management, Digitalis Ventures, Lumira Ventures, and a healthcare fund managed by abrdn Inc.
Alpha-9 Oncology which is a clinical stage company and is in the development of radiopharmaceuticals, has announced that this funding will be used for finding solutions for those patients who are suffering from multiple tumors and whose needs go unmet for any reason. The company will use this funding toward clinical studies of targeted radiopharmaceuticals and will spend a significant amount on the isotope supply partnerships and on the expansion of its manufacturing.
David Hirsch is the CEO of Alpha-9 Theranostics, and he has said that the company has a robust infrastructure and a deep pipeline and is one of the market leaders in the radiopharmaceutical sector. It is working day and night to improve the lives of people suffering from tumors. He also said the company is working on state-of-the-art solutions that include multiple radiopharmaceuticals with best-in-class potential.
