Primo Biotechnology, a Taipei, Taiwan-based radiopharmaceutical firm, raised NT$220M in Sequence A funding.
Backers weren’t disclosed.
The corporate intends to make use of the funds to develop operations and its R&D efforts.
Led by CEO Dr. Ya-Yao Huang, Primo Biotechnology is a biotech firm specializing within the growth and manufacturing of radiopharmaceuticals driving innovation in precision most cancers care. Primo collaborates with each home and worldwide companions to speed up progress in precision oncology, leveraging its capabilities in drug growth, scientific translation, and GMP manufacturing to assist new therapeutics.
Primo lately obtained official authorization from ABX superior biochemical compounds GmbH, a worldwide chief in radiopharmaceuticals, to develop into the manufacturing and distribution associate in Taiwan for the prostate most cancers diagnostic radiopharmaceutical “Radelumin ([18F]PSMA-1007). The product has already acquired advertising approval in France, Germany, the Netherlands, and several other different nations. The corporate started supplying it for scientific use in Taiwan in June this yr.
Along with prostate most cancers diagnostics, Primo can also be advancing scientific trial plans for pipeline candidates PB011 and PB012 to develop into different most cancers indications. By leveraging Taiwan’s Class 2 new drug registration pathway—equivalent to for brand spanking new indications—Primo can carry merchandise to market with considerably decrease price, time, and threat in comparison with Class 1 (new chemical entities). This technique permits a sooner path to market approval, which is anticipated to speed up income era and assist additional funding in radiopharmaceutical innovation.
The increase introduced the whole quantity to NT$500M. The corporate additionally revealed plans to launch its IPO in 2026, leveraging public market sources to develop R&D capabilities and worldwide attain.
FinSMEs
02/07/2025
