AdvanCell, a clinical-stage radiopharmaceutical company headquartered in Brisbane, Australia, has established a U.S. global headquarters in the Boston area and leased a 128,000-square-foot facility in Andover, Massachusetts that will become the company’s U.S. manufacturing center for its targeted alpha therapy pipeline.

The Andover facility, located at the Innovation Park campus owned by IQHQ, will support development and future commercialization of ADVC001 and AdvanCell’s broader Lead-212 targeted alpha therapy pipeline. The site marks the company’s first internal manufacturing facility in the U.S. and will combine corporate operations with manufacturing capabilities, according to the announcement.

As part of its U.S. expansion, AdvanCell is also working with a contract development and manufacturing organization (CDMO) to establish drug product manufacturing capabilities ahead of the Andover facility’s fit-out and qualification. The company said this approach is intended to accelerate access to U.S.-based manufacturing capacity to support Phase II enrollment of its TheraPb study while it builds out Phase III and commercial manufacturing infrastructure.

Philina Lee, CEO of AdvanCell, said in a statement the Andover facility will serve as a cornerstone of the company’s U.S. expansion, providing a foundation to scale production for future clinical and commercial demand, while the company continues to leverage its Australian operations for clinical translation, isotope supply, and process innovation.

The field of radiopharmaceuticals is undergoing a transformation that could lead the “niche” modality to gain more mainstream adoption over the next couple of years, becoming a “centerpiece” of cancer treatment, according to William Blair analysts.

Over the next three to five years, the analysts see the radiopharmaceutical industry as one of the most compelling secular growth opportunities in biotechnology. In 2025, they contend the sector attracted significant investment as radiopharma companies received roughly $900 million in private financings — with 2026-2027 shaping up as a “pivotal” time.