Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Fintech PR

EQT Life Sciences leads EUR 93 million oversubscribed Series A round in PanTera, which aims to accelerate global actinium – 225 production

Published

on

eqt-life-sciences-leads-eur-93-million-oversubscribed-series-a-round-in-pantera,-which-aims-to-accelerate-global-actinium-–-225-production
  • On track for commercial-scale production of actinium-225, which is crucial to a new class of targeted treatments for cancer
  • Largest Series A in life sciences sector in Belgium to date; led by EQT Life Sciences
  • Total of EUR 134 million raised including funding secured through EUR 7.2 million equity from IBA and SFPIM, and EUR 33.8 million debt financing

STOCKHOLM, Sept. 11, 2024 /PRNewswire/ — EQT Life Sciences is pleased to announce that it has led a EUR 93 million oversubscribed Series A fundraise in PanTera, the Belgian radioisotope producer. With additional equity and debt funding, the total amount raised is EUR 134 million. The round was also joined by Kurma Partners, Eurazeo, Korys, Paladin and PMV. Alongside this, IBA, the world leader in particle accelerator technology, and SFPIM, a Belgian sovereign fund, will convert into equity EUR 7.2 million convertible loans.

PanTera was founded in 2022 with the primary goal of enabling large-scale production of actinium-225 (225Ac), which is crucial to enable a new class of targeted cancer treatments known as Targeted Alpha Therapy. The funds raised will be used primarily to support the construction of a state-of-the-art production facility in Belgium.

Targeted Alpha Therapy is a promising new cancer treatment approach that enables safe and effective delivery of radiation to the cancer cells by radioisotopes that emit highly energetic alpha particles. The radiation effect of the alpha particle is more localized compared to other approaches and as such can destroy the cancer cells to which it is attached without harming surrounding healthy tissue. The most promising alpha emitter for this approach is 225Ac. As a result, demand for 225Ac is increasing rapidly as drug-development companies look to scale-up clinical trials across a range of different cancers and seek regulatory approvals. However, dependable, scalable and sustainable methods for producing 225Ac are complex and require advanced nuclear infrastructure, which has resulted in a global shortage of the isotope.

PanTera is working to solve this global shortage. The Company’s unique, patented photo-nuclear “gamma” production process transforms Radium-226 (226Ra) into Radium-225 (225Ra), which in turn decays into 225Ac. This process provides a reliable, safe and high-quality supply of 225Ac, not only for clinical trials but also for future commercial radiopharmaceutical therapies, the first of which are due to be on the market in 2028-2029. PanTera’s process and infrastructure is designed to enable the annual production of more than 100 Curies (Ci) of clinical grade 225Ac by 2029, allowing treatment of more than 100,000 patients per year. The combination of SCK CEN’s unmatched large stock of pure 226Ra and IBA’s Rhodotron® electron accelerator, positions PanTera to become a highly successful and reliable producer of this key medical radioisotope.

In parallel to its effort to develop commercial-scale production of 225Ac, PanTera is already providing early 225Ac supply through an alternative production method. Working in collaboration with TerraPower Isotopes, PanTera is on track to provide 1.5-2 Ci of 225Ac annually from early 2025. With today’s current global supply estimated at 3 Ci annually, this will be a significant contribution to drug development. PanTera has signed supply agreements with several pharmaceutical companies, including Bayer, and expects to have secured agreements for more than 80% of its capacity before starting production.

Sven Van den Berghe, CEO of PanTera, said: “PanTera is looking to radically improve supply in the short and long term, in order to ensure that this potentially life-saving, highly innovative modality can reach patients. The size of this raise is testament to our strategy, our unique assets and our capabilities. We are working alongside very experienced partners with a combined expertise and a network that goes well beyond 225Ac production and encompasses all aspects of the radiopharmaceutical revolution. With this funding, we are now en route to realise our vision of providing a “Better Fight for Life” to cancer patients worldwide by becoming a dependable global 225Ac supplier.”

Martijn Kleijwegt, Partner at EQT Life Sciences, commented: “It is clear to us that PanTera has the expertise, assets and strategy in place to address the critical actinium-225 supply shortage faced by the pharmaceutical industry today, as well as the significant increase in demand expected in the future. EQT is one of the world’s largest healthcare investors and we are committed to supporting pioneering ventures, like PanTera, to reach their fullest potential. We are excited to partner with the PanTera team, alongside IBA, SCK CEN and our fellow investors, on the next phase of PanTera’s development.”

Contact
EQT Press Office, [email protected] 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/eqt/r/eqt-life-sciences-leads-eur-93-million-oversubscribed-series-a-round-in-pantera–which-aims-to-accel,c4035711

The following files are available for download:

Advertisement

https://mb.cision.com/Main/87/4035711/2992915.pdf

PR_EQT Life Sciences invests in Pantera_ 11.09.24

https://news.cision.com/eqt/i/a-lab-microscope-close-up-original-760168,c3332564

A Lab Microscope Close-Up original 760168

 

View original content:https://www.prnewswire.co.uk/news-releases/eqt-life-sciences-leads-eur-93-million-oversubscribed-series-a-round-in-pantera-which-aims-to-accelerate-global-actinium—225-production-302244845.html

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fintech

Fintech Latvia Association Releases Fintech Pulse 2024: A Guide to Latvia’s Growing Fintech Hub

Published

on

fintech-latvia-association-releases-fintech-pulse-2024:-a-guide-to-latvia’s-growing-fintech-hub

The Fintech Latvia Association has launched the latest edition of its annual publication, Fintech Pulse 2024, unveiling insights and resources that position Latvia as a thriving hub for European fintech.

Announced at this year’s Fintech Forum, the magazine is now available in digital format, offering a comprehensive guide for fintech professionals and entrepreneurs navigating the Latvian market and exploring its advantages.

This issue covers essential topics, from support tools provided by Latvijas Banka and newcomer roadmaps to Riga’s investor resources and fintech education opportunities. Readers will find the latest fintech news from Latvia, coverage of this year’s key industry events, and member insights on the future of fintech. The Fintech Landscape section provides a comprehensive overview of the Latvian fintech ecosystem.

Tina Lūse, Managing Director of Fintech Latvia Association, expressed excitement about the ecosystem’s growth: “We are excited to unveil the third annual edition of Fintech Pulse. This year has been pivotal for our ecosystem, and together with public sector stakeholders, we are enhancing financial inclusion, democratizing investments, and driving innovation throughout the sector. This is a testament to Latvia’s emergence as a fintech hub, establishing itself as an equal partner in innovation and support within the Baltic region.”

Minister of Finance Arvils Ašeradens highlighted Latvia’s fintech potential in the magazine, stating: “Latvia has already made strides in adapting its regulatory framework to support a stable financial system. Now, we encourage financial market players to invest in modern technologies to meet the growing demand for inclusive financial services and solidify Latvia’s position in the fintech landscape. We are confident that with the combined offer of the government, Latvijas Banka and Riga city, we are a great place to start your next scalable European FinTech!”

Minister of Economics Viktors Valainis expressed Latvia’s ambition in the magazine, stating: “Latvia wants to become a WEB 3.0. innovation hub and solidify itself as one of the leaders of a newly regulated EU crypto-asset market. We welcome international companies to choose Latvia, a flexible and fast-paced country, where you can obtain a MICA license in just 3 months. Open your office in Latvia, receive a MICA license and serve the whole EU market!”

The Fintech Latvia Association brings together fintech and non-banking financial service providers to represent their interests at both the national and international levels. It promotes sustainable development in Latvia’s financial sector by fostering reliable, responsible, and long-term industry practices that earn trust from consumers and regulatory authorities. The association is committed to supporting innovation and growth opportunities within the fintech landscape.

The post Fintech Latvia Association Releases Fintech Pulse 2024: A Guide to Latvia’s Growing Fintech Hub appeared first on News, Events, Advertising Options.

Continue Reading

Fintech PR

Novo Holdings to acquire Benchmark Genetics, a leader in aquaculture genetics

Published

on

novo-holdings-to-acquire-benchmark-genetics,-a-leader-in-aquaculture-genetics

COPENHAGEN, Denmark, Nov. 25, 2024 /PRNewswire/ — Novo Holdings today announced that it has agreed to acquire the Norwegian fish genetics company Benchmark Genetics from Benchmark Holdings plc for an enterprise value of up to £260 million.

Headquartered in Bergen, Norway, Benchmark Genetics is a leader in salmonid genetics, providing eggs and other genetic services to both traditional and land-based farmers, operating across Norway, Iceland & Faroe Islands, Chile, and other major geographies.

The Company’s core genetics offering drives resource-efficiency in fish and shrimp farming by addressing key production challenges including growth rates, feed conversion and disease resistance. By combining its long-established breeding programs and the latest genomic tools, Benchmark Genetics help aquaculture producers increase quality, yield, health, and animal welfare.

The Company has customers in more than 50 countries and employs 270 people globally.

The transaction is aligned with the Novo Holdings Planetary Health Investment team’s strategic focus on aquaculture technology to drive growth, innovation, and sustainability, complementing the recent investment in Stingray Marine Solutions.

Aleks Engel, Partner, Planetary Health Investments, Novo Holdings, said: “We are very pleased to announce plans to acquire the Benchmark Genetics business from Benchmark Holdings. Both animal and plant genetics hold immense potential to transform the global food industry, enabling more efficient and sustainable ways to feed a growing population. In particular, advancements in aquaculture genetics, such as those in the salmon industry, present significant opportunities to improve productivity, resilience, and environmental outcomes.”

Johan Hueffer, Senior Partner, Principal Investments, Novo Holdings, added: “The investment in Benchmark Genetics provides us with increased exposure to the salmon industry, which benefits from highly attractive underlying dynamics. Further it represents an opportunity to support a leading animal genetics platform with global ambitions. Partnering with an experienced management team, we are confident in the company’s ability to drive meaningful advancements in this field. At Novo Holdings we are excited to leverage our industry experience and extensive network to help realise the company’s full potential and contribute to sustainable growth in the aquaculture sector.”

Trond Williksen, CEO of Benchmark, continued: “I am very pleased to have signed an agreement to sell our Genetics business to Novo Holdings. Benchmark Genetics is a leading aquaculture genetics business with great potential and Novo Holdings is an excellent owner to take the business forward.”

Geir Olav Melingen, Head of Benchmark Genetics, concluded: “I am very excited about the future of our business. We have a great opportunity ahead and look forward to continuing our journey with Novo Holdings bringing solutions to the aquaculture industry to improve productivity, resilience and sustainability.”

Transaction highlights

Advertisement
  • Initial consideration of £230 million
  • Additional contingent consideration of up to £30 million based on certain revenue thresholds
  • Completion is expected during the first quarter of 2025 subject to shareholder approval and receipt of customary regulatory clearances
  • Shareholders representing approximately 71% of the issued ordinary share capital of Benchmark have irrevocably agreed to vote in favour of the transaction

PJT Partners are acting as financial advisor to Novo Holdings. Latham & Watkins are acting as legal advisor to Novo Holdings.

About Benchmark

Benchmark is a leading aquaculture biotechnology company. Benchmark’s mission is to drive sustainability in aquaculture by delivering products and solutions in genetics, advanced nutrition and health which improve yield, growth and animal health and welfare.

Through a global footprint in 26 countries and a broad portfolio of products and solutions, Benchmark addresses many of the major aquaculture species in all the major aquaculture regions around the world.

www.benchmarkplc.com

About Novo Holdings A/S

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seed, Venture, Growth, Asia, Planetary Health and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. www.novoholdings.dk 

About the Novo Nordisk Foundation

Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.

 

View original content:https://www.prnewswire.co.uk/news-releases/novo-holdings-to-acquire-benchmark-genetics-a-leader-in-aquaculture-genetics-302315282.html

Advertisement

Continue Reading

Fintech

Quantum Security and the Financial Sector: Paving the Way for a Resilient Future

Published

on

quantum-security-and-the-financial-sector:-paving-the-way-for-a-resilient-future

The World Economic Forum (WEF) has released a pivotal white paper in collaboration with the Financial Conduct Authority (FCA), titled “Quantum Security for the Financial Sector: Informing Global Regulatory Approaches”. This January 2024 publication underscores the urgent need for global cooperation as the financial sector transitions from a digital economy to a quantum economy, highlighting both the immense opportunities and cybersecurity challenges posed by quantum computing.


Quantum: A Double-Edged Sword for Finance

Quantum computing offers transformative benefits for the financial sector, such as accelerated portfolio optimization, enhanced fraud detection, and improved risk management. Yet, it simultaneously threatens the very foundation of cybersecurity. With quantum’s ability to break traditional encryption methods, sensitive data and financial transactions face significant risks. The white paper warns that such vulnerabilities could erode trust in the financial system and destabilize global markets.

The urgency to prepare is evident, with some quantum threats, such as “Harvest Now, Decrypt Later” attacks, already emerging. Governments and regulators, including the United States with its National Security Memorandum on Quantum (2022), have begun advocating for quantum security readiness by 2035. However, as noted in the paper, transitioning to a quantum-secure infrastructure is a monumental task requiring unprecedented coordination between regulators, industry leaders, and technology providers.


A Collaborative Framework: Four Guiding Principles

To address the complex challenges posed by quantum technologies, the WEF and FCA have proposed four guiding principles to inform global regulatory and industry approaches:

  1. Reuse and Repurpose: Leverage existing regulatory frameworks and tools to address quantum risks, rather than creating entirely new systems.
  2. Establish Non-Negotiables: Define baseline requirements for quantum security, ensuring consistency and interoperability across organizations and jurisdictions.
  3. Increase Transparency: Foster open communication between regulators and industry players to share best practices, strategies, and knowledge.
  4. Avoid Fragmentation: Prioritize global collaboration to harmonize regulatory efforts and avoid inconsistencies that could burden multinational organizations.

These principles aim to create a unified, forward-looking strategy that balances innovation with security.


A Four-Phase Roadmap for Quantum Security

The white paper introduces a phased roadmap to help the financial sector transition toward quantum security:

  1. Prepare: Raise awareness of quantum risks, assess cryptographic infrastructure, and build internal capabilities.
  2. Clarify: Formalize engagement between stakeholders, map current regulations, and model the cost and complexities of transitioning to quantum-safe systems.
  3. Guide: Address regulatory gaps, translate technical standards into actionable frameworks, and develop industry-wide best practices.
  4. Transition and Monitor: Implement cryptographic management modernization and adopt iterative, adaptable regulatory approaches to remain resilient in the quantum economy.

This roadmap emphasizes adaptability, encouraging stakeholders to continuously refine their strategies as quantum technologies evolve.


The Path Forward: Collaboration as a Catalyst

The transition to a quantum-secure financial sector is not merely a technological shift but a comprehensive rethinking of how industries and regulators approach cybersecurity. The interconnected nature of global finance means that collaboration between mature and emerging markets is crucial to avoid vulnerabilities that could undermine the entire system.

Regulators and financial institutions must act with urgency. As Sebastian Buckup, Head of Network and Partnerships at the World Economic Forum, notes in the report:
“The quantum economy era is fast approaching, and we need a global public-private approach to address the complexities it will introduce. We welcome this opportunity to collaborate with the FCA to chart the roadmap for a seamless and secure transition for the financial services sector.”

Similarly, Suman Ziaullah, Head of Technology, Resilience, and Cyber at the FCA, emphasizes:
“Quantum computing presents considerable opportunities but also threats. The financial sector relies heavily on encryption to protect sensitive information, the exposure of which could cause significant harm to consumers and markets. Addressing this requires a truly collaborative effort to transition to a quantum-secure future.”


Global Impact: Ensuring Resilience in an Evolving Landscape

As quantum technologies mature, they will redefine the landscape of cybersecurity. The financial sector, as one of the most sensitive and interconnected industries, must prioritize preparedness to ensure stability, protect consumers, and maintain trust.

Advertisement

The Quantum Security for the Financial Sector: Informing Global Regulatory Approaches white paper offers an essential foundation for continued dialogue and action. By adhering to the guiding principles and roadmap outlined in the report, stakeholders can navigate this transformation with foresight and cooperation.

The full report, published by the World Economic Forum, highlights the need for a unified global approach to quantum security, serving as a rallying call for industry and regulatory leaders alike.


Source: World Economic Forum, “Quantum Security for the Financial Sector: Informing Global Regulatory Approaches”, January 2024.

The post Quantum Security and the Financial Sector: Paving the Way for a Resilient Future appeared first on News, Events, Advertising Options.

Continue Reading

Trending