AtomVie Global Radiopharma completes Series A, nabs C$90m

• AtomVie’s existing backer Avego Management was the round’s lead investor
• The funds raised will allow the company to complete the buildout and equip its 64,000 square-foot, purpose-built, state-of-the-art facility
• AtomVie is a spinout of the Centre for Probe Development and Commercialization

Hamilton, Ontario-based AtomVie Global Radiopharma, a specialist in GMP manufacturing and distribution of radiopharmaceuticals, has closed the second tranche of a Series A financing, bringing the round’s total to more than C$90 million.

AtomVie’s existing backer Avego Management was the round’s lead investor.

AtomVie, a spinout of the Centre for Probe Development and Commercialization, offers the full range of scientific, technical, regulatory, quality, logistics and business expertise combined with a specialized infrastructure for the development of radiopharmaceuticals from clinical studies to the commercial marketplace. It currently serves clients conducting studies in more than 17 countries.

The funds raised will allow the company to complete the buildout and equip its 64,000 square-foot, purpose-built, state-of-the-art facility.

“Avego is pleased to expand its partnership with AtomVie, a collaboration that underscores our commitment to growth and innovation,” said Kevin McNeill, a partner at Avego, in a statement. “AtomVie’s new facility, set to open in late 2024, will handle meaningful clinical and commercial programs with advance booking of manufacturing capacity available today.”

Founded in 2015 by former healthcare entrepreneurs, Avego is a multi-strategy healthcare-focused investment firm with offices in Georgia and New York.