AtomVie closes Series A round, has commitment of at least C$40m

The investor was US healthcare investment firm Avego Management.

  • AtomVie is a spinout of the Centre for Probe Development and Commercialization
  • AtomVie will be constructing a new facility designed to accommodate multiple isotopes
  • Avego, founded in 2015 by former healthcare entrepreneurs, is a US multi-strategy healthcare-focused investment firm

AtomVie Global Radiopharma, a Hamilton, Ontario-based developer, maker and distributor of radiopharmaceuticals, has closed a Series A financing with Avego Management. The company said it has a total financing commitment of at least C$40 million.

AtomVie, founded in 2021, is a spinout of the McMaster University’s Centre for Probe Development and Commercialization, and within CPDC, the CMO business unit, now AtomVie.

AtomVie served as the GMP manufacturer and supplier of finished-dose therapeutic radiopharmaceuticals for the past seven years. It will be expanding its clinical capacity of radiopharmaceutical products to include commercial-stage production through the construction of a new facility designed to accommodate multiple isotopes.

“We worked relentlessly over the past few years in preparation of this moment,” said Bruno Paquin, CEO of AtomVie, in a statement. “All the employees at AtomVie are extremely grateful to Avego for their support and their confidence. We are excited to launch AtomVie, continuing the culture of excellence that the CPDC has created and working with Avego for the long-term success of AtomVie.”

AtomVie has strengthened its operational management with the recent appointment of Dodi Adar as chief operating officer and the promotion of Rezwan Ashique to vice president of operations.

Avego, founded in 2015 by former healthcare entrepreneurs, is a multi-strategy healthcare-focused investment firm with offices in Georgia and New York. Through its three strategies, which include private equity, venture capital and a hedge fund, Avego invests in private and public companies developing and commercializing innovative products and services for patients, practitioners, and other stakeholders across the healthcare continuum.