AdvanCell, a clinical-stage radiopharmaceutical company headquartered in Brisbane, Australia, has raised $315 million in an oversubscribed Series D financing to advance its targeted alpha therapy pipeline, expand manufacturing infrastructure, and increase isotope supply for future commercial production.

The financing will support Phase 3 clinical development of ADVC001, the company’s investigational Lead-212 prostate-specific membrane antigen (PSMA)-targeted alpha therapy for metastatic prostate cancer. According to AdvanCell, the funding will also expand its proprietary Lead-212 platform and U.S. manufacturing capabilities to support late-stage clinical development and future commercial demand.

The financing round was led by Ally Bridge Group and co-led by Alpha Wave, with participation from new investors including Bain Capital Life Sciences, Fidelity Management & Research Company, funds and accounts advised by T. Rowe Price Associates, Eventide Asset Management, Velosity Capital, as well as a sovereign wealth fund. Existing investors, including Eli Lilly, Sanofi Ventures, and SV Health Investors also participated.

AdvanCell said it has developed a vertically integrated Lead-212 platform that combines isotope supply, automated manufacturing, and scalable production to support development of targeted alpha therapies.

ADVC001 is currently in Phase 2 clinical development for metastatic prostate cancer. The therapy is designed to deliver alpha radiation directly to PSMA-expressing tumor cells while limiting exposure to healthy tissue. According to the company, Phase 1b results demonstrated encouraging anti-tumor activity and favorable tolerability.

The financing follows AdvanCell’s recent expansion of its U.S. operations. In June, the company established its U.S. headquarters in the Boston area and leased a 128,000-square-foot facility in Andover, Massachusetts, which will serve as its first U.S. manufacturing site for Lead-212 targeted alpha therapies.

AdvanCell said the facility will support development and future commercialization of ADVC001 while expanding domestic manufacturing capacity. The company also announced plans to work with a contract development and manufacturing organization (CDMO) to establish interim U.S. drug product manufacturing capabilities while the Andover facility is being completed.