Radionetics Oncology Receives $52.5 Million Investment

Radionetics Oncology, Inc. is a clinical-stage radiopharmaceutical company focused on the discovery and development of novel agents for the treatment of a wide range of oncology indications. It also announced the completion of a $52.5 million Series A financing. The round was led by Frazier Life Sciences, 5AM Ventures and new investor DCVC Bio with participation from Crinetics Pharmaceuticals and GordonMD Global Investments.

To date, the round has raised a total of $82.5 million. Radionetics plans to use the proceeds 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.

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"We are Excited to Support Radionetics"

Simultaneously with the financing, Radionetics Oncology also announced the appointment of Paul Grayson as Chief Executive Officer of the company. Paul brings a wealth of knowledge of a broad range of technologies from leading biotechnology companies over the last 25 years. He was most recently President and CEO of Tentarix Biotherapeutics, an oncology company focused on multifunctional biologics. His previous experience also includes founding roles at Fate Therapeutics (NASDAQ: FATE), BirdRock Bio (acquired by Skye Biosciences), Senomyx (acquired by Firmenich) and Aurora Biosciences (acquired by Vertex Pharmaceuticals).