On June 21, 2023 ARTBIO, Inc. (ARTBIO), a clinical-stage radiopharmaceutical company developing a new class of targeted alpha radioligand therapies (ART), reported its founding with a $23 million seed financing led by F-Prime Capital with Omega Funds (Press release, ARTBIO, JUN 21, 2023, View Source [SID1234632831]). ARTBIO was founded in 2021 by Roy Larsen, Øyvind Bruland, Radforsk, and F-Prime Capital to create highly targeted cancer therapies by pairing the optimal alpha-emitting isotope Pb212 with ligands against proven tumor-specific targets. ARTBIO is also creating an entirely new approach to ART manufacturing to overcome production and distribution challenges. In early 2022, Emanuele Ostuni, formerly Head of Europe for Cell and Gene Therapy at Novartis Oncology, joined ARTBIO as CEO to start building its world-class team and advance its proprietary technology, while securing additional funding from F-Prime Capital and Omega Funds.

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The financing enables ARTBIO’s ongoing clinical development of its lead program AB001 for the treatment of prostate cancer. The funds will enable the company to advance a differentiated pipeline, further develop its AlphaDirect Pb212 isolation technology, and expand its distributed manufacturing network.

"Our unique approach combines Pb212 best in class properties with rationally designed ligands against tumor-specific targets to unlock the full therapeutic potential of alpha radioligand therapy," said Emanuele Ostuni, Ph.D., Chief Executive Officer of ARTBIO. "Many cancer patients still have few or no treatment options. We focus on ARTs with Pb212 because they can selectively deliver lethal energy to tumors in an optimal timeframe, resulting in better outcomes for patients and easier management by health care professionals. We are equally focused on building a distributed manufacturing ecosystem to maximize the potential of these therapies through a footprint tailored to the short half-life of Pb212."

A New Approach for Alpha Radioligand Therapy (ART)
ARTBIO’s unique approach is underpinned by a deep understanding of cancer biology and the infrastructure needed to effectively design, manufacture and distribute ARTs.

There are four distinct pillars of development:

The ideal alpha-emitter profile: Pb212 has a short half-life that matches the properties of the small molecule carriers used by ARTBIO, delivering most of its energy into the tumor quickly.
A differentiated pipeline of ARTs: ARTBIO has one asset in clinical development, with additional assets in rapid pre-clinical development, each focusing on addressing unmet medical needs.
Distributed ART manufacturing ecosystem: The company is building an end-to-end distributed manufacturing network for reliable and fast delivery of therapeutic candidates to the bedside.
Proprietary Pb212 isolation technology: ARTBIO’s AlphaDirect technology delivers highly pure Pb212 from widely available raw materials.
An Expert Leadership Team
ARTBIO has assembled a world-class team of talented professionals spanning multiple disciplines and categories.

"ARTBIO’s team is highly skilled and passionate, bringing together a unique combination of expertise in the radioligand space, drug development and oncology," said Ted W. Love, M.D., Chairman of the Board at ARTBIO. "I believe that ARTBIO’s approach represents the future of radioligand therapy that will radically advance cancer care."

The leadership includes:

Management Team

Emanuele Ostuni, Ph.D., Chief Executive Officer; Former Head of Europe for Cell & Gene Therapy for Novartis Oncology
Bharat Lagu, Ph.D., Sr. Vice President and Head of Discovery; Former Head of Drug Discovery at Mitobridge (acquired by Astellas)
Victor Paulus, Ph.D., Sr. Vice President and Head of Regulatory Affairs; Former SVP of Regulatory Affairs at Fusion and Advanced Accelerator Applications.
Vicki Jardine, M.D., Ph.D., Vice President of Clinical Development; Former Senior Clinical Development Leader (Alpha Radioligand Therapies) at Bayer
Gjermund Olsen, Director of Manufacturing; Former Head of Technology Development (Radiotherapies) at Bayer
Scientific Advisory Board

Øyvind Bruland, M.D.; ARTBIO SAB Chairman and Co-founder
Roy Larsen, Ph.D.; ARTBIO Co-founder
Oliver Sartor, M.D.; Director of Radiopharmaceutical Trials, Mayo Clinic
Richard P. Baum, M.D.; President of the International Centers for Precision Oncology (ICPO) Academy and a Consultant at the Advanced Center for Radiomolecular Precision Oncology (RPO) at Curanosticum Wiesbaden-Frankfurt
Dennis Benjamin, Ph.D.; Former Head of R&D at Seagen
Board of Directors

Ted W. Love, M.D.; Chairman of the ARTBIO Board; Chair of Biotechnology Innovation Organization’s (BIO) Board of Directors
Alex Pasteur, Ph.D.; Partner at F-Prime Capital
Otello Stampacchia, Ph.D.; Managing Director and Founder at Omega Funds
Roy Larsen, Ph.D.; ARTBIO Co-Founder, Founder of Sciencons
Anders Tuv, Partner at Radforsk
Susanne Schaffert, Ph.D.; ARTBIO Independent Director; Former President of Novartis Oncology and Advanced Accelerator Applications
Emanuele Ostuni, Ph.D.; Chief Executive Officer of ARTBIO
Martin Taylor, Ph.D.; Senior Associate at F-Prime Capital (Observer)
Francesco Draetta; Partner at Omega Funds (Observer)
"ARTBIO is a global company that was incubated in Europe, where there has been much innovative development in the radioligand therapy space," said Alex Pasteur, Ph.D., Partner at F-Prime Capital. "Roy and Øyvind are serial entrepreneurs responsible for developing the only alpha particle emitting radiopharmaceutical product currently on the market. We look forward to working with this team to support the development of their pipeline and advance their vision of creating alpha radioligand therapies that are accessible, effective, and safe for patients around the world."