Blue Earth Therapeutics, an Oxford, U.K.-based radiopharmaceutical company, has announced the completion of a $76.5 million Series A financing round.
Led by Soleus Capital and Sands Capital Management, with additional participation from existing investor Bracco Imaging S.p.A., the funding will support clinical advancements in prostate cancer therapies.
The raised funds will primarily fuel Phase 2 trials for Blue Earth’s therapeutic candidates: Lutetium (177Lu) rhPSMA-10.1 and Actinium (225Ac) rhPSMA-10.1. Both compounds target the Prostate-Specific Membrane Antigen (PSMA) and are designed to deliver radiation directly to prostate tumors, potentially reducing impact on healthy tissues. This investment marks a significant step in the development of the next generation of radioligand therapies.
“With this funding, we are positioned to advance our mission to develop radioligand therapies that can deliver targeted, high radiation doses to tumors with an emphasis on normal organ safety,” said David Gauden, CEO of Blue Earth Therapeutics. He noted recent progress following the company’s Phase 1 trials for the beta emitter Lutetium (177Lu) and the alpha emitter Actinium (225Ac), and said the company looks forward to further updates as trials continue.
Other new investors, including Woodline Partners and PBM Capital, also contributed to the financing.
The financing underscores the growing interest in PSMA-targeted radiopharmaceuticals within prostate cancer treatment. Soleus Capital partner David Canner highlighted that recent therapeutic advancements, such as Pluvicto, have underscored the potential for PSMA radioligand therapies, with Blue Earth’s compounds offering promising differentiation for patients with limited options. Canner and Michael Ginder from Sands Capital will join Blue Earth’s board, alongside Gauden and representatives from Bracco Imaging.
Blue Earth Therapeutics operates as a Bracco subsidiary, leveraging expertise across diagnostic and therapeutic radiopharmaceuticals. The company was established to further advance the clinical application of radiohybrid PSMA (rhPSMA) compounds for cancer treatment.
