ARTBIO is a clinical-stage radiopharmaceutical biotechnology company focused on developing a pioneering category of alpha radioligand therapies (ARTs). Founded in 2021 in Cambridge, MA, it was established on the scientific foundations laid by founders Roy Larsen and Øyvind Bruland, aligned with Radforsk and F-Prime Capital. ARTBIO's aim is to redefine cancer treatment through alpha radioligand therapy, employing technologies such as their proprietary AlphaDirect™. The company has successfully raised significant funds, including $90 million in a Series A round and $132 million in a Series B round, indicating strong investor confidence.
| Attribute | Information |
|---|---|
| Founding Date | 2021 |
| Headquarters | Cambridge, MA |
| Founders | Roy Larsen, Øyvind Bruland |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Sofinnova Investments, B Capital, F-Prime Capital, Omega Funds |
| Industry | Radiopharmaceuticals |
| Number of Employees | 68 |
ARTBIO was born out of groundbreaking research by the illustrious University of Oslo and Norway's Radium Hospital. Its co-founders, Roy Larsen and Øyvind Bruland, have had a remarkable journey in radiology and radiation therapy, having been instrumental in the creation of Xofigo, the first metabolically targeted alpha therapy later acquired by Bayer. ARTBIO was established in 2021, grounded in this rich scientific tradition. The company's vision was to innovate cancer treatment by developing alpha radioligand therapies, an uncharted frontier in nuclear medicine. With initial seed funding of $23 million, ARTBIO embarked on its journey to create a robust ecosystem catering to the unique demands of ART production and distribution.
ARTBIO's business model revolves around leveraging its proprietary AlphaDirect™ technology to develop ARTs that combine the optimal alpha-emitting isotope, Pb212, with tumor-specific targets. This approach is characteristic of the company’s commitment to creating highly effective and safe cancer treatments. Notable achievements include:
Currently, ARTBIO is advancing multiple ART programs targeted at cancers with high unmet medical needs. The company is deeply integrated into the oncology market, focusing on developing standard care alternatives in nuclear medicine. ARTBIO's AlphaDirect™ offers competitive advantages by facilitating a scalable and reliable manufacturing process for ARTs, addressing significant production and delivery challenges in the industry. Leveraging these capabilities, ARTBIO is well-positioned to establish itself as a leader in the radiopharmaceutical landscape.
ARTBIO stands at the forefront of redefining cancer care through its innovative alpha radioligand therapies. With a robust pipeline, backed by significant Series A and B funding, and a strategic vision supported by cutting-edge technology, ARTBIO is poised to influence the future of oncology significantly. As the company continues to expand its manufacturing capabilities and advance its clinical trials, it holds substantial potential to create new treatment paradigms in nuclear medicine, offering hope for more effective and safer cancer therapies.