Blue Earth Therapeutics Series A Round, October 2024

Blue Earth Therapeutics, a clinical-stage company based in Oxford, has closed a $76.5 million Series A funding round to support its development of innovative radiopharmaceutical therapies. The financing was led by Soleus Capital and co-led by Sands Capital Management, with additional participation from existing investor Bracco Imaging SpA and new institutional investors Woodline Partners and PBM Capital. This significant investment will enable Blue Earth Therapeutics to advance its targeted therapeutic programs, specifically focusing on its prostate-specific membrane antigen (PSMA)-targeted radioligand therapies for prostate cancer.

Founded as part of the Bracco Group, a global leader in diagnostic imaging, Blue Earth Therapeutics builds upon Bracco's expertise in radiopharmaceuticals to address unmet needs in oncology. Under the leadership of CEO Dr. David Gauden, the company is focused on developing next-generation therapies that deliver targeted radiation to cancer cells, aiming to improve the efficacy of treatments while reducing collateral damage to surrounding healthy tissues. The company’s current pipeline is primarily directed toward prostate cancer, leveraging PSMA-targeted approaches that show promise in minimizing toxicity and maximizing therapeutic benefit.

Blue Earth Therapeutics’ approach to cancer treatment involves the use of radioligands, a form of targeted therapy that links radioactive isotopes to molecules designed to bind selectively to specific proteins on the surface of cancer cells. In the case of prostate cancer, these radioligands target PSMA, a protein overexpressed on the surface of prostate cancer cells, allowing the therapy to home in on cancerous tissue while sparing healthy cells. This approach aims to provide a more focused treatment option, especially for patients whose cancers are resistant to standard therapies or have metastasized beyond the primary tumor site.

The newly acquired funding will accelerate Blue Earth Therapeutics’ research and clinical trials for these PSMA-targeted therapies. In addition to supporting the advancement of existing programs, the Series A investment will allow the company to expand its team and infrastructure to meet the growing demands of its development pipeline. The capital infusion positions Blue Earth Therapeutics to move forward with key studies, ultimately aiming to bring its targeted radiopharmaceutical therapies closer to regulatory approval and, eventually, to market.

As part of the financing agreement, David Canner from Soleus Capital and Michael Ginder from Sands Capital Management will join the Blue Earth Therapeutics Board of Directors, alongside representatives from Bracco Imaging and CEO David Gauden. This strategic addition to the board underscores the confidence of leading healthcare investors in Blue Earth’s mission and the promise of its approach to targeted radiotherapy in oncology.

Dr. Gauden expressed his enthusiasm for the continued support, stating that the investment will enable Blue Earth Therapeutics to make significant strides in its clinical programs. “Our aim is to transform the landscape of cancer treatment by developing therapies that precisely target cancer cells, minimizing the impact on healthy tissues and offering new hope to patients,” Gauden noted. He highlighted the potential of targeted radioligand therapies to provide a safer and more effective alternative to conventional treatments, particularly for cancers with limited therapeutic options.

This Series A financing underscores Blue Earth Therapeutics' commitment to advancing its radioligand therapies and the confidence of investors in the company’s innovative approach. With the financial backing and guidance from experienced partners, Blue Earth Therapeutics is well-positioned to accelerate the development of therapies that could significantly improve outcomes for patients with prostate cancer and potentially other types of cancer in the future.