Blue Earth Therapeutics raises US$76.5 million Series A funding

We have advised Blue Earth Therapeutics, an emerging leader in the development of therapeutic radiopharmaceuticals, and its management on the closing of US$76.5 million Series A funding. 

The closing of the Series A financing was led by Soleus Capital and co-led by Sands Capital Management, with existing investor Bracco Imaging SpA also participating. Woodline Partners, and PBM Capital also joined in the financing as new institutional investors. The new funding comes from a broad spectrum of experienced biotech investors and enables Blue Earth Therapeutics to further advance its clinical stage prostate-specific membrane antigen-targeted radioligand therapies.

Blue Earth Therapeutics is a clinical stage company dedicated to advancing next generation targeted radiotherapeutics to treat patients who have cancer and has been incubated within the Bracco family of companies.  

Commenting on the transaction, Corporate Partner Ross McNaughton said: "Radiotherapy has long been a common form of treatment for many different types of cancers but has the potential to inflict collateral damage to otherwise healthy tissue. Given this, radiopharmaceuticals, a form of treatment using targeting ligands coupled with radioisotopes to deliver radiation directly and specifically to cancer cells and thereby minimising impact on normal organs, has become an emerging treatment. We are delighted to have acted for Blue Earth Therapeutics and its management on this fundraising round, which gives the company the firepower to take its candidate agents into phase 2 clinical trials."

CEO of Blue Earth Therapeutics, David Gauden said: "We are making great progress with our targeted next generation targeted radioligand therapy and this funding round stands the company in good stead to progress through clinical trials and meet its ultimate objective of becoming a new standard of care for specific forms of cancer. It has been a pleasure to work with the Taylor Wessing life sciences team on this transaction, who provided insightful, tailored and timely input throughout."

The deal team consisted of partner Ross McNaughton, senior associate Bella Thornton-Clark and associate Nadege Serna in the Corporate team, partner Colin McCall and senior associate Charlie Adams in the Patents team, and partner Claire Matthews and senior counsel Katie Lewis in the Tax and Incentives team.

For further information, please read Blue Earth Therapeutics press release here.

Read our Biotech acquisition trends insight for further information on radiopharmaceuticals.