Tees River
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IONETIX closes financing led by Tees River and Eli Lilly and Company
IONETIX Corporation, a leading cyclotron technology innovator and isotope manufacturer for diagnostic and therapeutic applications, announced a financing which included Eli Lilly and Company, as well as existing shareholders of the Company led by Tees River Limited.
The financing follows prior Actinium supply and convertible debt agreements with POINT Biopharma, which has since been acquired by Lilly. The financing underscores the robust strategic interest in Ionetix’s differentiated technology and the Company’s continued leadership in isotope manufacturing.
With this financing, the company meaningfully extends its cash runway to fund continued development of its core technology offerings and expansion of the current cyclotron network in support of its strategic growth plans in the late-stage clinical and commercial settings. Capitalizing on the growth derived from new therapeutics programs, Ionetix aims to fill the market need resulting from the capacity-constrained isotope manufacturing landscape.