RadioMedix, Inc., a clinical-stage biotechnology business, announced a $40 million Series A funding round deal with an entity affiliated to Portland Investment Counsel Inc. RadioMedix is dedicated to developing a pipeline of targeted alpha treatment (TAT) and diagnostic companion radiopharmaceuticals for uncommon and aggressive tumors.
The financing proceeds will be used to develop RadioMedix’s flagship radiopharmaceutical AlphaMedixTM, a lead-212 (Pb212) labelled somatostatin analogue TAT agent for the treatment of metastatic or inoperable somatostatin-expressing neuroendocrine tumors, as well as other diagnostic and therapeutic (theranostic) radiopharmaceuticals under development by the Company to address oncology needs.
RadioMedix, Inc., based in Houston and Humble, Texas, is a clinical-stage biotechnology company. The company is focused on developing novel targeted radiopharmaceuticals for cancer diagnosis, monitoring, and treatment. RadioMedix is a company that creates radiopharmaceuticals for PET imaging and therapy (alpha- and beta-labelled agents). The US FDA authorized the company’s first diagnostic product, 64Cu-DOTATATE (Detectnet®), in September 2020.
Mr. Michael Lee-Chin will be appointed to RadioMedix’s board of directors. Mr. Lee-Chin is Portland’s founder, CEO, and Executive Chairman. He has over 40 years of investment experience and a solid track record in the sector.