Nusano, a Valencia, CA-based physics company transforming the production of radioisotopes, raised over $115M in Series C funding.
The round was led by The Wasatch Group, with additional participation by S32. Previous investors included Verily and the American Cancer Society’s BrightEdge.
The company intends to use the funds to support the initial product launches of non-carrier-added lutetium-177 (n.c.a. Lu-177) and actinium-225 (Ac-225).
Led by CEO Chris Lowe, Nusano is a physics company committed to bringing supply stability and innovation to the medical radioisotopes market, and to serving industrial and commercial markets dependent on access to radioisotopes for their products and services. Its production platform will generate radioisotopes in volumes and varieties exceeding other production methods.
Nusano has developed a proprietary isotope separation process to enable n.c.a. Lu-177 production on a scale far greater than existing methods. The company’s n.c.a. Lu-177 program is scheduled to begin Q1 2025 to supply current and anticipated medical needs.
Opening in 2025 in West Valley City, Utah, the Nusano production platform will support the company’s Ac-225 production and be capable of generating more than 25 radioisotopes applicable to medical and industrial uses. It is anchored by a proprietary ion source technology which accelerates heavy particles (alphas and deuterons) to generate high volume, high quality (cGMP-grade) radioisotopes with unparalleled efficiency using eco-friendly methods.
FinSMEs
01/10/2024