What AdvanCell does

AdvanCell Pty Ltd is a clinical-stage radiopharmaceutical company founded in June 2019 and headquartered in Sydney, Australia, developing targeted alpha therapies (TAT) for cancer based on the Lead-212 (212Pb) radionuclide. The company's vertically integrated platform spans proprietary Lead-212 isotope generation (including a Good Design Australia Gold Award-winning generator), high-activity Thorium-228 processing, cGMP drug product manufacturing, and clinical development of a portfolio of 212Pb-radioligand therapies. Its lead clinical candidate, ADVC001, is a first-in-class 212Pb-PSMA-targeted radioligand in Phase 1/2 (now Phase 2 expansion as of December 2025) for metastatic castration-resistant, metastatic hormone-sensitive, and post-177Lu-PSMA-treated prostate cancer, with Phase 1b data showing 80% PSA50 response and 100% objective response rate with no dose-limiting toxicities. The pipeline additionally includes ADVC002 (melanoma), ADVC003 (ovarian/breast/lung), and a gastrointestinal cancer program partnered with 48Hour Discovery, supported by academic collaborations through the Prostate Cancer Foundation TACTICAL Award network.

The company's operations are anchored by a 40,000-square-foot flagship manufacturing facility in Richlands, Queensland (operational since October 2024), a new 128,000-square-foot U.S. Global Headquarters and manufacturing hub in Andover, Massachusetts signed in June 2026, and translational research infrastructure through the Translational Research Institute and University of Queensland's AIBN. AdvanCell's go-to-market is currently clinical-trial-driven with direct just-in-time radiopharmaceutical delivery to a concentrated set of Australian and international hospital sites (Peter MacCallum, Princess Alexandra, Royal Brisbane & Women's, UCSF, UCLA, Uniklinik Essen), and a flagship Eli Lilly strategic collaboration (announced February 2025) for co-development of targeted alpha therapies across multiple oncology indications. The company is pre-revenue, monetizing only through non-dilutive Australian government grants (NSW Health Medical Devices Fund A$2.1M, MRFF A$18M, Queensland A$15.25M) and the Lilly collaboration, with future revenue expected from product commercialization (specialty radiopharmaceutical pricing) and licensing/milestone/royalty economics.

Leadership includes CEO Philina Lee, PhD (effective January 2026, ex-Blueprint Medicines), Chair Andrew Kay (ex-Algeta CEO who led the $2.9B Bayer sale of Xofigo), CTO Justyna Kelly (ex-Lilly/POINT Biopharma), CSO François Gaudet (ex-Novartis/J&J), CMO Anna Karmann (ex-RayzeBio), and Chief Isotope Development Officer Simon Puttick. The company has raised approximately US$112M in Series C equity (February 2025), US$13M in 2023, A$18M Series B (August 2022, Morningside-led), and roughly A$35M+ in cumulative non-dilutive Australian government grants, with investors including SV Health Investors, Sanofi Ventures, Abingworth, SymBiosis, Morningside, Tenmile, Brandon Capital, and Catalio Capital Management.

Name

AdvanCell

Legal name

Advancell Pty Ltd

Website

https://www.advancell.com.au

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

51–100 employees

Short description

AdvanCell is a clinical-stage radiopharmaceutical company developing a vertically integrated Lead-212 (212Pb) targeted alpha therapy platform, with lead asset ADVC001 in Phase 2 for metastatic prostate cancer. It serves oncology patients and partners with Eli Lilly, academic cancer centers, and Australian government funders.

Ownership category

akta.pro rank

Product category

Radiopharmaceuticals / Targeted Alpha Therapy

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical and Medicine Manufacturing (3254), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Biological Products, (No Disgnostic Substances) (2836), In Vitro & In Vivo Diagnostic Substances (2835)

akta.pro primary industry

Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy) (HLAIAGAB)

akta.pro secondary industries

Theranostic Radiopharmaceutical Platforms (Paired Dx/Tx) (HLAIAGAC), Radiopharmacy Compounding & Dispensing (Hospital/Commercial) (HLAIAGAE), Radiation Oncology (HLAKAFAC)

Keywords

• Targeted alpha therapy
• Radiopharmaceutical development
• Lead-212 isotopes
• PSMA radioligand therapy
• Isotope generator manufacturing

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Infrastructure, Supply Chain, Operations, Marketing or Sales

Revenue model

1. Pharmaceutical/Radiopharmaceutical Product Revenue: Pre-revenue clinical-stage company developing targeted alpha therapies for cancer treatment. Future revenue expected from commercialization of ADVC001 and pipeline products for metastatic prostate cancer and other oncology indications.
2. Strategic Collaborations and Licensing: Collaboration agreements with pharmaceutical partners like Eli Lilly for co-development of targeted alpha therapies. May include upfront payments, milestone payments, and royalties on commercialized products.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

AdvanCell develops and manufactures Lead-212 (212Pb) targeted alpha therapies for the treatment of cancer, built on a vertically integrated platform spanning Thorium-228 isotope processing, proprietary Lead-212 generator technology, and GMP-compliant radiopharmaceutical manufacturing. Its lead clinical asset ADVC001 is a first-in-class PSMA-targeted radioligand therapy currently in Phase 1/2 (TheraPb) clinical trials for metastatic prostate cancer, with additional pipeline candidates ADVC002 (melanoma) and ADVC003 (ovarian/breast/lung).

Product overview

AdvanCell is a vertically integrated, clinical-stage radiopharmaceutical company developing a portfolio of Lead-212 (212Pb) based Targeted Alpha Therapies for cancer treatment. The core platform consists of proprietary Lead-212 isotope production technology and scalable manufacturing capabilities. The lead product ADVC001 is a PSMA-targeted radioligand therapy for metastatic prostate cancer in Phase 1/2 trials. The pipeline includes ADVC002 (melanoma), ADVC003 (ovarian/breast/lung), and a gastrointestinal cancer program developed with 48Hour Discovery. The company operates manufacturing facilities in Brisbane, Australia and Andover, Massachusetts, with proprietary Lead-212 isotope generator technology.

Differentiator

Problem solved

Functional benefit

Products and services

• ADVC001 (212Pb-ADVC001) A first-in-class Lead-212 (212Pb)-based PSMA-targeted radioligand therapy for metastatic castration-resistant prostate cancer (mCRPC), with Phase 1/2 TheraPb clinical trials (NCT05720130) evaluating doses of 60-200 MBq across metastatic hormone-sensitive prostate cancer (mHSPC), mCRPC pre-chemotherapy, and post-177Lu-PSMA settings.
• Lead-212 Isotope Generator Proprietary compact isotope generator for commercial-scale production of Lead-212 (212Pb) for targeted alpha therapies, designed with innovative engineering to enable scalable manufacture and outpatient administration of Lead-212 radiopharmaceuticals. Award-winning design developed in collaboration with Design + Industry (Capgemini) under CRC-P grant.
• ADVC002 - Lead-212 Therapy for Melanoma Lead-212-based targeted alpha therapy in preclinical/early clinical development for melanoma, representing approximately 42% of the company's pipeline focus and expanding the platform beyond PSMA indications.
• ADVC003 - Lead-212 Therapy for Ovarian, Breast, and Lung Cancers Lead-212-based targeted alpha therapy in development for ovarian, breast, and lung cancers, representing approximately 25% of the company's pipeline focus and broader oncology indications beyond prostate cancer.
• Gastrointestinal Cancer Program (with 48Hour Discovery) Peptide-based Lead-212 radiotherapeutic targeting gastrointestinal cancer with significant medical need, developed under collaboration and exclusive worldwide licensing agreement with 48Hour Discovery combining 48Hour Discovery's peptide discovery platform with AdvanCell's 212Pb expertise and scalable manufacturing.

Quantifiable outcome

• 80% PSA50 response rate at therapeutic doses ≥160 MBq in Phase 1b trial
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• 48Hour DiscoverycoreStrategic or Co-development Partner · 2 February 2026Collaboration and exclusive licensing agreement to develop a novel peptide-based Lead-212 radiotherapeutic targeting gastrointestinal cancer with significant medical need. Combines 48Hour Discovery's peptide discovery platform with AdvanCell's 212Pb expertise and scalable manufacturing. AdvanCell obtains exclusive worldwide rights for development and commercialization. Program expected to enter clinic in 2027.
• Thor Medical ASAcoreTechnology or Integration · 4 August 2025Expanded strategic master supply agreement for Thorium-228 (228Th), increasing supply by 50% and raising total purchasing commitment from NOK 100 million to NOK 150 million over five years. Capacity expansion enabled by 40% increase at Thor Medical's AlphaOne plant. Supports accelerated Lead-212 PSMA clinical program.
• Eli Lilly and CompanyflagshipStrategic or Co-development Partner · 10 February 2025Expanded strategic collaboration to develop targeted alpha therapies for various cancers. Leverages AdvanCell's proprietary Pb-212 production technology and radionuclide development infrastructure with Lilly's drug candidate programs and oncology expertise. Significant milestone recognizing AdvanCell as a leader in Pb-212 targeted alpha therapy space.
• Prostate Cancer FoundationflagshipStrategic or Co-development Partner · 1 December 2022TACTICAL Award program bringing together multidisciplinary international team including Peter MacCallum Cancer Centre (Melbourne), Uniklinik Essen (Germany), UCSF and UCLA (USA) to explore 212Pb-based prostate cancer research. AdvanCell provides 212Pb and proprietary generator technology for preclinical research and future clinical trials.
• Peter MacCallum Cancer CentrecoreStrategic or Co-development PartnerFirst clinical site to receive delivery of 212Pb-ADVC001 from AdvanCell's Brisbane facility, demonstrating ability to manufacture and deliver short-lived therapeutic candidates across Australia. Lead investigator Professor Michael Hofman and ProsTIC center involved in prostate cancer theranostics research.
• National Isotope Development Center (NIDC) / U.S. Department of Energy Isotope ProgramcoreTechnology or IntegrationKey supplier of Thorium-228 for AdvanCell. NIDC serves as interface with user community and manages coordination of isotope production across program facilities at Argonne, Brookhaven, Idaho, Los Alamos, Oak Ridge, and Pacific Northwest National Laboratories. Critical for securing reliable isotope supply.
• Design + Industry (Capgemini)coreStrategic or Co-development PartnerCollaboration partner for Lead-212 Isotope Generator design, supported by CRC-P grant from Department of Industry, Science and Resources. ISO 13485:2016 certified for compliant development of medical devices.
• University of Queensland / Australian Institute for Bioengineering and Nanotechnology (AIBN)coreStrategic or Co-development PartnerPartnership providing infrastructure and expertise crucial for AdvanCell's progress. AIBN installed AdvanCell Lead-212 generator enabling on-site production of radiopharmaceutical isotope. $18M federal-funded project to develop targeted alpha therapies for prostate cancer.
• Point Biopharma (acquired by Eli Lilly)minorStrategic or Co-development PartnerPartner and investor logo displayed on AdvanCell website, indicating ongoing relationship as part of Lilly ecosystem following acquisition.

Scale indicators14 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Telix Pharmaceuticals: Commercial-stage radiopharmaceutical company developing diagnostic and therapeutic agents across oncology, including PSMA-targeted products. Directly comparable as a radiopharmaceutical peer targeting similar oncology indications with both imaging and therapeutic radioligands, though Telix focuses primarily on 177Lu-based agents rather than Pb-212.
• Fusion Pharmaceuticals: Clinical-stage radiopharmaceutical company developing targeted alpha therapies using Actinium-225, acquired by AstraZeneca in 2024 for up to $2.4B. Direct alpha-emitter peer competing in similar oncology indications with parallel platform strategy, validating the strategic value of AdvanCell's Pb-212 approach.
• RayzeBio: Clinical-stage radiopharmaceutical company developing actinium-225-based targeted alpha therapies for solid tumors, acquired by Bristol Myers Squibb for $4.1B in 2024. Direct alpha-emitter peer with comparable clinical-stage profile and similar therapeutic focus areas, validating M&A appetite in this space.
• Point Biopharma: Clinical-to-commercial stage radiopharmaceutical company developing PSMA-targeted radioligand therapies, acquired by Eli Lilly in 2024. Direct peer with comparable PSMA-targeted radioligand approach and ongoing relationship with AdvanCell through the Lilly partnership ecosystem.

Broad incumbents

• Lantheus Holdings: Established radiopharmaceutical company with commercial products including Point, DEFINITY, and Xenon-133, plus a growing radiotherapeutic pipeline through acquisitions. Comparable as a vertically integrated radiopharmaceutical business with established U.S. manufacturing and commercial infrastructure, though Lantheus is more diversified and commercially mature.
• ITM Isotope Technologies Munich: Established radiopharmaceutical company specializing in medical radioisotopes and radiopharmaceutical manufacturing, including targeted radionuclide therapies. Comparable as a vertically integrated radiopharmaceutical manufacturer with both isotope supply capabilities and therapeutic drug development, serving similar hospital/nuclear medicine customers.
• Bayer (Xofigo / radiopharmaceuticals): Large pharmaceutical company with Xofigo (radium-223 dichloride), the first FDA/EMA-approved alpha-emitting radiopharmaceutical for prostate cancer bone metastases. Comparable through its pioneering role in commercializing alpha-emitter oncology products, with AdvanCell Chair Andrew Kay having led the original Algeta/Bayer Xofigo development.
• Novartis (Pluvicto): Large pharmaceutical company with Pluvicto (177Lu-PSMA-617), the FDA-approved PSMA-targeted radioligand therapy that has rapidly become standard of care in metastatic prostate cancer. Indirect but critical competitor, as ADVC001 must demonstrate clinical superiority or carve post-Pluvicto niches.
• Curium Pharma: Global nuclear medicine company manufacturing and distributing radiopharmaceutical products for diagnostic imaging and therapy. Comparable as a vertically integrated radiopharmaceutical manufacturer with established global supply chain, though primarily focused on diagnostic imaging rather than targeted alpha therapy.
• Bracco Imaging: Global imaging company with growing radiopharmaceutical therapeutic ambitions through partnerships and acquisitions. Comparable as an established diagnostic/radiopharmaceutical peer expanding into therapeutic radioligands, providing a potential partnership or acquisition counterpart.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds5 records

Investors21 records

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AdvanCell