PanTera
PanTera is a Belgian joint venture of IBA and SCK CEN that produces actinium-225 (Ac-225) as an Active Product Ingredient for pharmaceutical companies developing targeted alpha therapy radiopharmaceuticals for cancer treatment.
- Company typePrivate
- Founded2022
- HeadquartersMol, Belgium
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What PanTera does
PanTera is a Belgian joint venture founded in September 2022 by IBA (Ion Beam Applications S.A.) and SCK CEN (Belgian Nuclear Research Centre) to produce actinium-225 (Ac-225), an alpha-emitting radioisotope used in targeted alpha therapy (TAT) for cancer treatment. The company addresses a documented global shortage of high-purity Ac-225 that has constrained pharmaceutical development of Ac-225-based radiopharmaceuticals. Its headquarters and production site are located at Boeretang 192 in Mol, Belgium, on SCK CEN's premises.
PanTera operates a dual supply strategy. The Early Supply Program, which delivered its first Ac-225 extraction in June 2025, uses Thorium-229 (Th-229) generators sourced through a strategic collaboration with TerraPower Isotopes. The commercial-scale Actinium Production Center (APC), currently under construction with groundbreaking in October 2025 and expected operational by 2028, employs a photonuclear (gamma) production route: Radium-226 is irradiated using an IBA Rhodotron electron beam accelerator (40 MeV, up to 125 kW) to produce Ra-225, which decays into high-purity Ac-225. The proprietary process avoids Ac-227 contamination associated with thorium spallation routes. Licensed-in intellectual property from IBA and SCK CEN — covering radiochemical processing, radon abatement, electron-gamma conversion, radium targetry, and waste handling — underpins the technology stack.
The business model is B2B enterprise supply: PanTera sells clinical-grade Ac-225 as an Active Product Ingredient (API) to pharmaceutical and biotech companies developing Ac-225-based radiopharmaceuticals. Confirmed customers include Bayer and SK Biopharmaceuticals, with the broader segment also referencing Bristol Myers Squibb, AstraZeneca, and Eli Lilly. Pricing is not publicly disclosed; agreements are long-term direct supply contracts. The company targets production of more than 100 Curies of Ac-225 annually by 2029, sufficient to treat approximately 100,000 patients per year. Total funding raised to date is EUR 134 million, comprising a EUR 93 million oversubscribed Series A led by EQT Life Sciences in September 2024 plus additional equity and debt.
PanTera firmographics
Firmographics- Name
- PanTera
- Legal name
- PanTera nv
- Website
- https://pantera-life.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- PanTera is a Belgian joint venture of IBA and SCK CEN that produces actinium-225 (Ac-225) as an Active Product Ingredient for pharmaceutical companies developing targeted alpha therapy radiopharmaceuticals for cancer treatment.
- Ownership category
- akta.pro rank
PanTera industry classification
Industry- Product category
- Medical Radioisotope Production
- NAICS
- Pharmaceutical and Medicine Manufacturing (32541)
- SIC
- Pharmaceutical Preparations (2834)
- akta.pro primary industry
- Radioisotope Production (Reactor/Cyclotron/Gamma) (HLAIAGAD)
- akta.pro secondary industries
- Medical Radioisotope Production (Reactor/Cyclotron, Mo-99/Tc-99m, I-131, Lu-177, etc.) (EUAKAIAA), Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy) (HLAIAGAB)
Keywords
Where PanTera is headquartered
LocationHeadquarters
- HQ city
- Mol
- HQ country
- Belgium
- HQ region
- Europe
Offices1 record
Markets served
PanTera business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Supply Chain
Revenue model
- Actinium-225 API Supply: PanTera supplies high-purity actinium-225 as an Active Product Ingredient (API) to pharmaceutical companies developing radiopharmaceutical cancer therapies. Revenue is generated through supply agreements with drug developers, providing clinical-grade Ac-225 for targeted alpha therapy applications.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
PanTera product offering
Product offeringCore offering
PanTera manufactures and supplies high-purity actinium-225 (Ac-225), an alpha-emitting radioisotope used as an Active Product Ingredient (API) in targeted alpha therapy (TAT) radiopharmaceuticals for cancer treatment. The company produces Ac-225 via a proprietary photonuclear (gamma) route using Radium-226 processed with an IBA Rhodotron accelerator, and supplements this with an early supply program using Thorium-229 generators, serving pharmaceutical companies developing Ac-225-based radiopharmaceuticals globally.
Product overview
PanTera is a joint venture between IBA and SCK CEN focused on large-scale production of actinium-225 (Ac-225), a critical alpha-emitting radioisotope for targeted cancer therapies. The company operates a dual supply strategy: an Early Supply Program using Thorium-229 generators (operational since 2024) and a commercial-scale Actinium Production Center (APC) using the photonuclear (gamma) production route from Radium-226, expected to produce over 100 Curies annually by 2029. The company's production facility in Mol, Belgium, powered by IBA's Rhodotron technology, aims to address the global shortage of Ac-225 and enable widespread availability of radiopharmaceutical therapies for cancer treatment.
Differentiator
Problem solved
Functional benefit
Products and services
- Actinium-225 (Ac-225) API High-purity actinium-225 (Ac-225) supplied as a clinical-grade Active Product Ingredient (API) for pharmaceutical and biotech companies developing targeted alpha therapy (TAT) radiopharmaceuticals for cancer treatment. Ac-225 emits alpha particles that destroy cancer cells while minimizing damage to nearby healthy tissue.
- Early Supply Program Supply program providing early access to actinium-225 (Ac-225) produced via Thorium-229 (Th-229) generators while the commercial Actinium Production Center is under construction. Thorium-229 decays to Ra-225 and then to Ac-225, which is extracted for delivery to pharmaceutical customers.
Quantifiable outcome
- 100,000 patients annually by 2029
- +1 more outcomes
Companies that use PanTera
Customer profileNamed customers2 records
Segments1 record
Ideal customer profiles1 record
PanTera technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
PanTera partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor and core.
- IRE (Institut National des Radioéléments)minorIRE, supported by TerraPower Isotopes and PanTera, expanded collaboration to boost global actinium-225 supply. New facilities in Belgium will bolster production efforts for the critical isotope in next-generation cancer treatment.
- SK BiopharmaceuticalscoreSK Biopharmaceuticals signed a collaboration with PanTera for the supply of actinium-225. SK Biopharmaceuticals is developing an Ac-225-based radiopharmaceutical therapy candidate (SKL35501) for advanced solid tumors expressing NTSR1.
- TractebelminorTractebel combined its infrastructure and nuclear expertise with Modulo architects to support the design and construction of PanTera's actinium-225 production facility in Belgium.
- Modulo architectsminorModulo architects partnered with Tractebel to design PanTera's medical radioisotope production facility in Belgium.
- BayercoreBayer signed a supply agreement with PanTera for actinium-225, demonstrating PanTera's ability to support the radionuclide therapeutics industry in bringing new cancer treatments to patients.
- TerraPower IsotopescoreStrategic collaboration providing PanTera with Thorium-229 material for a generator that produces actinium-225. TerraPower Isotopes supplies Th-229 which naturally decays to Ra-225 and then Ac-225, enabling early supply production starting 2024. Expanded collaboration in 2026 with IRE support to boost global supply.
- IBAcoreIBA (Ion Beam Applications S.A.) is a joint venture partner and world leader in particle accelerator technology. IBA provides the Rhodotron technology and has transferred proprietary IP including radiochemical processing methods, electron-gamma converter system, and radium targetry to PanTera.
- SCK CENcoreSCK CEN (Belgian Nuclear Research Centre) is a joint venture partner with 70 years of nuclear research experience. SCK CEN provides privileged access to high-purity radium-226 and related handling expertise, and has transferred proprietary IP including radiochemical processing methods, radon abatement system, and waste handling to PanTera.
Scale indicators5 records
Recent moves9 records
Expansion highlights5 records
PanTera competitors and assessment
Company assessmentDirect peers
- TerraPower Isotopes: Subsidiary of TerraPower focused on medical isotope production. Both companies supply Ac-225 via different production routes (Th-229 decay for TerraPower, photonuclear gamma for PanTera), making them strategic partners and direct competitors for the same pharmaceutical off-takers.
- IRE (Institut National des Radioéléments): Belgium-based global leader in radioisotope production for medical and industrial use (Mo-99, I-131, Lu-177, Xe-133). Recently expanded collaboration with PanTera/TerraPower for global Ac-225 supply; competes for radiopharma manufacturer contracts across overlapping product lines.
- ITM Isotope Technologies Munich: Germany-based medical radioisotope producer with a vertically integrated radiopharmaceutical pipeline. Produces Lu-177, Y-90, and other medical isotopes and is expanding into alpha emitters — directly comparable to PanTera as a medical isotope API supplier serving global pharma.
- Eckert & Ziegler: German manufacturer and distributor of radioisotopes and radiation technology for medical, scientific, and industrial use. Produces medical isotopes including therapeutic radioisotopes and competes in the same API supply market as PanTera.
- NorthStar Medical Radioisotopes: US-based commercial producer of medical radioisotopes (primarily Mo-99/Tc-99m) using novel non-reactor production routes. Closely comparable technology positioning to PanTera's non-traditional production approach and target end-market of pharmaceutical companies developing radiopharmaceuticals.
Broad incumbents
- Curium Pharma: World's largest nuclear medicine company, producing a broad portfolio of diagnostic and therapeutic radiopharmaceuticals (SPECT/PET tracers, I-131, Lu-177). Established incumbent competing for the same pharmaceutical off-take relationships that PanTera targets with its Ac-225 supply.
- Novartis (Radioligand Therapy): Major pharmaceutical company with commercial radioligand therapy portfolio (Lutathera, Pluvicto) primarily using Lu-177. Represents the largest end-market for therapeutic radioisotope APIs and a potential customer for PanTera's Ac-225 as next-generation TAT expands.
- Eli Lilly (Point Biopharma): Acquired Point Biopharma in 2023 for its Ac-225 and Lu-177 radioligand therapy pipeline. Represents both a major potential customer of PanTera's Ac-225 supply and a competitive threat via internal isotope production capabilities.
Emerging players
- Telix Pharmaceuticals: Commercial-stage radiopharmaceutical company developing diagnostic and therapeutic products using Ac-225, Lu-177, and other isotopes. Represents both a potential customer of PanTera's Ac-225 supply and a downstream competitor in the radiopharmaceutical value chain.
Others
- IBA (Ion Beam Applications): Parent company of PanTera and world leader in particle accelerator technology (including the Rhodotron). Provides enabling technology to PanTera but operates as a separate entity selling accelerators globally to other isotope producers and radiotherapy centers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
PanTera social profiles
Digital presencePanTera compliance and trust
Trust signalCompliance3 records
PanTera financial estimates
Financial estimateRevenue estimate
Valuation estimate
PanTera leadership team
Management profileNumber of profiles
Profiles12 records
PanTera funding detail
Funding detailFunding overview
Funding rounds2 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PanTera M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PanTera
What does PanTera do?
PanTera manufactures and supplies high-purity actinium-225 (Ac-225), an alpha-emitting radioisotope used as an Active Product Ingredient (API) in targeted alpha therapy (TAT) radiopharmaceuticals for cancer treatment. The company produces Ac-225 via a proprietary photonuclear (gamma) route using Radium-226 processed with an IBA Rhodotron accelerator, and supplements this with an early supply program using Thorium-229 generators, serving pharmaceutical companies developing Ac-225-based radiopharmaceuticals globally.
Is PanTera a public or private company?
PanTera is a private company. It is classified as venture growth investor backed and is currently operating.
When was PanTera founded?
PanTera was founded in 2022. It employs 11 to 50 people.
Where is PanTera based?
PanTera is headquartered in Mol, Belgium, in the Europe region.
How does PanTera make money?
One revenue line is on record: actinium-225 API Supply.
Who are PanTera's main competitors?
Direct peers on record are TerraPower Isotopes, IRE (Institut National des Radioéléments), ITM Isotope Technologies Munich, Eckert & Ziegler and NorthStar Medical Radioisotopes. Broad incumbents are Curium Pharma, Novartis (Radioligand Therapy) and Eli Lilly (Point Biopharma). Telix Pharmaceuticals is listed as an emerging player. IBA (Ion Beam Applications) is listed as an others.
Does PanTera have an API?
No public API is recorded for PanTera.
What industry is PanTera in?
PanTera's product category is Medical Radioisotope Production. Its primary akta.pro industry code is HLAIAGAD, Radioisotope Production (Reactor/Cyclotron/Gamma), with a secondary code of EUAKAIAA, Medical Radioisotope Production (Reactor/Cyclotron, Mo-99/Tc-99m, I-131, Lu-177, etc.). Its NAICS code is 32541 and its SIC code is 2834.