On track for commercial-scale production of a new class of targeted treatments for cancer.
PanTera, a Belgian radioisotope producer, today announces that it has completed a 93 million euros oversubscribed Series A fundraise led by EQT Life Sciences, with
additional equity and debt funding bringing the total amount raised to 134 million euros.
In addition to EQT Life Sciences, the 93 million euros Series A was joined by Kurma Partners, Eurazeo, Korys, Paladin and PMV.
Alongside this, IBA, the world leader in particle accelerator technology, and SFPIM, a Belgian sovereign fund, will convert into equity 7.2 million euros in convertible loans, further
strengthening PanTera’s balance sheet.
In parallel, the Company will also receive an additional in-kind contribution from SCK CEN to expand its business opportunities. Lastly, a binding term sheet for 33.75 million euros in debt has also been secured with KBC and Belfius with the support of Gigarant, a guarantee instrument of the Flemish Government.
The oversubscribed round is the largest Series A round to date in the life sciences sector in Belgium.
Promising cancer treatment
PanTera, founded in 2022, aims to produce actinium-225 (225Ac), a crucial isotope for Targeted Alpha Therapy (TAT), a promising cancer treatment. TAT delivers radiation directly to cancer cells using alpha particles, which effectively destroy cancer cells without harming healthy tissue. However, 225Ac is in short supply due to the complex production process requiring advanced nuclear infrastructure.
To address this, PanTera is building a state-of-the-art facility in Belgium, using a patented method that converts Radium-226 into 225Ac. By 2029, they plan to produce over 100 Curies of 225Ac annually, potentially treating more than 100,000 patients per year.
