Building Infrastructure for Modern Cancer Treatments: Our Series A in Nucleus RadioPharma

A new class of drugs, targeted radiopharmaceuticals, is bringing hope to those who have little. They’ve been proven to offer a better, more targeted approach to cancer treatment, and are applicable to a wide variety of cancer types and stages. These drugs are a highly precise form of treatment— they work by combining radioactive isotopes with compounds that can precisely identify, target, and destroy cancer cells, which enhances efficacy while minimizing side effects. But, today, these drugs reach only a small fraction of patients due to limited production capacity and an outdated, fragmented supply chain. Notably, isotopes have short half-lives — akin to melting ice cubes — which makes transporting them highly complex and challenging. Only a few global centers have the specialized expertise necessary to develop, handle, and administer these drugs. Today, we’re excited to announce Nucleus RadioPharma’s, a company we co-founded with Mayo Clinic, $56M Series A to modernize the clinical development, manufacturing, and supply chain for targeted radiopharmaceuticals. Eclipse co-led this Series A with GE HealthCare, in partnership with Mayo Clinic, University of Missouri, Mercy Health, Granger Management, Fox Chase Cancer Center, and Echo. Each of these organizations brings valuable expertise that is essential to achieving our shared mission of making advanced drug therapies accessible to all. Charles (Chuck) Conroy, CEO of Nucleus, is building a team of the world’s top experts across disciplines to push these advancements forward. Chuck is one of very few people on the planet who understand the complex nature of these therapies, and is able to not only build the vision to solve these challenges, but also a team to execute that vision. To build the team’s foundation, Chuck recruited leaders in the industry, including Kevin Haehl, Jeff Nicoson, Kathy Spencer-Pike, and Mark Przekop. Collectively this group brings decades of unique experience in development, operations, quality, and manufacturing from leading firms, such as Novartis, Novo Nordisk, McKesson, and Pfizer. Notably, Dr. Geoff Johnson, Chair of Mayo Clinic’s Nuclear Medicine Division, has joined as Chief Scientific Officer to bridge the gap between the clinical and manufacturing environments. We are excited to partner with GE HealthCare to enable the next phase of growth at Nucleus. Their expertise in imaging and diagnostic technology, a crucial facet in the treatment process, will be invaluable as Nucleus scales around the globe. Their advanced medical imaging and theranostics make it possible for doctors to visually identify cancerous cells, which then enables them to target cancer cells more precisely. With these funds, Nucleus will establish new manufacturing facilities around the country, most notably in Rochester, Minnesota, near Mayo Clinic. The close proximity to Mayo Clinic, the world’s largest radiopharmaceutical center, creates a unique feedback loop between manufacturing and clinical needs.This collaboration will shape the development of a new supply chain network designed to move, track, and deliver materials to patients faster and more efficiently. This network will cover the entire process, from identifying target molecules and testing treatments to delivering patient-ready medication.

The unique experience of this incredible group of world-class experts in this specialized space — combined with our new R&D capabilities near Mayo Clinic’s radiopharmaceutical clinical practice — will be key to addressing the current gaps in supply chain, manufacturing, and treatment delivery of radiopharmaceuticals to hospitals. The Eclipse team believes that Nucleus is positioned to deliver a new paradigm of cancer therapy that is accessible to everyone around the world who needs it within the next decade. We are honored to partner with the Nucleus, Mayo Clinic, and GE HealthCare teams to achieve our collective mission.

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