Radionetics Oncology Closes $52.5M Series A Financing

Radionetics Oncology, a San Diego, CA-based clinical stage radiopharmaceutical company focused on the discovery and development of novel agents for the treatment of a wide range of oncology indications, raised $52.5M in Series A funding.

The round, which brought the total amount to $82.5M, was led by Frazier Life Sciences, 5AM Ventures, and new investor, DCVC Bio, with participation from Crinetics Pharmaceuticals, and GordonMD Global Investments.

The company intends to use the funds 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.

Led by Paul Grayson, President and CEO, Radionetics Oncology is a clinical stage radiopharmaceutical company focused on the discovery and development of novel radiotherapeutics for the treatment of a wide range of oncology indications. Spun out of Crinetics Pharmaceuticals (Nasdaq: CRNX), the company is advancing a pipeline of novel small molecule radioligands targeting G-protein coupled receptors for the treatment of a broad range of cancers, including adrenocortical carcinoma, breast cancer, lung cancer, among others.

Grayson brings a wealth of knowledge across a broad range of technologies from his time leading cutting-edge biotech companies over the past 25 years. He was most recently the President and CEO of Tentarix Biotherapeutics, an oncology company focused on multi-functional biologics. His previous experiences additionally include founding roles at Fate Therapeutics (NASDAQ: FATE), BirdRock Bio (acquired by Skye Biosciences), Senomyx (acquired by Firmenich), and Aurora Biosciences (acquired by Vertex Pharmaceuticals).

Cheers to Radionetics Oncology on closing a remarkable $52.5 million Series A financing round! Your strides in advancing oncology are truly inspiring. Here’s to groundbreaking innovations and future successes! 🥂🌟

~ Dr Shishir said Gupta founder & CEO of StartupLanes 

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