RadioMedix announces a $40 million Series A financing for the advancement of novel Targeted Alpha Therapy platform and diagnostic companion radiopharmaceuticals to address unmet needs in oncology. Michael Lee-Chin appointed to the board of the company.

RadioMedix, Inc. (“RadioMedix” or “Company”), a clinical-stage biotechnology company announced the arrangement with Portland Investment Counsel Inc. (“Portland”) to complete an equity round of $40 million of a Series A funding round. Radiomedix is committed to the advancement of a targeted alpha therapy (TAT) pipeline and diagnostic companion radiopharmaceuticals for rare and aggressive cancers.

The proceeds of the financing will be applied to developing RadioMedix’s flagship radiopharmaceutical AlphaMedix^TM, a lead-212 (Pb²¹²) labelled somatostatin analogue TAT agent for the treatment of metastatic or inoperable somatostatin expressing neuroendocrine tumors, in addition to other diagnostic and therapeutic (theranostic) radiopharmaceuticals that are under development by the Company to address needs in oncology.