AlphaGen Therapeutics

What AlphaGen Therapeutics does

AlphaGen Therapeutics is a Shanghai-based, privately held biopharmaceutical company founded in 2022 that develops next-generation targeted radioligand therapies (RLTs) for cancer patients in China and globally. The company's scientific platform centers on Pb-212, an alpha-emitting radioisotope selected over alternatives such as Ac-225 for its improved therapeutic window, lower off-target radiation, abundant raw material supply, and reduced shielding requirements that enable broader hospital adoption. AlphaGen is the first Chinese company to operate an end-to-end Pb-212 supply chain, spanning isotope generation, radiolabeling, hot drug preparation, and clinical supply, enabled by exclusive Greater China rights to ARTBIO's AlphaDirect™ Pb-212 generator technology.

The lead portfolio comprises three programs: the in-house [212Pb]Pb-AG1002 (a non-agonist SSTR2-targeting alpha radiopharmaceutical with high tumor-to-kidney ratio and favorable preclinical safety), [212Pb]Pb-AG1206 (a FAP-targeted macrocyclic peptide alpha radioligand with picomolar binding affinity), and AB001 (a clinical-stage PSMA-targeting alpha RLT for metastatic castration-resistant prostate cancer in-licensed from ARTBIO). Several programs have advanced to clinical or near-clinical stage with promising early human data, and the company reports first-in-class or best-in-class potential across multiple candidates.

AlphaGen operates a B2B partnership-led business model, monetizing through licensing, co-development, and eventual commercialization of radiopharmaceutical products. Revenue mechanics are not yet disclosed given the pre-commercial stage, and pricing for approved RLTs would be set upon regulatory approval. The company is funded by Eight Roads Ventures China and F-Prime Capital (seed October 2023) and a Series A completed August 2025.

Name

AlphaGen Therapeutics

Legal name

AlphaGen Therapeutics

Website

https://alphagentx.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

AlphaGen Therapeutics is a Shanghai-based private biopharmaceutical company founded in 2022 developing next-generation targeted radioligand therapies using Pb-212 alpha-emitting isotopes for cancer patients in China and globally.

Ownership category

akta.pro rank

Product category

Radiopharmaceuticals

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Research and Development in Biotechnology (except Nanobiotechnology) (541714), Scientific Research and Development Services (5417)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

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

akta.pro secondary industries

Radioisotope Production (Reactor/Cyclotron/Gamma) (HLAIAGAD), Radiopharmacy Compounding & Dispensing (Hospital/Commercial) (HLAIAGAE), Radiation Oncology (HLAKAFAC), Urologic Oncology (HLAKAOAB)

Keywords

• Radioligand therapies
• Radiopharmaceutical development
• Alpha-emitting isotopes
• Targeted cancer therapy
• Pb-212 supply chain

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure

Revenue model

1. Radiopharmaceutical Drug Development and Commercialization: AlphaGen develops and commercializes targeted radioligand therapies (RLTs) for cancer treatment. Revenue is derived from bringing novel radiopharmaceutical products through clinical development to market, including potential licensing deals, co-development partnerships, and eventual product sales.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

AlphaGen Therapeutics develops next-generation targeted radioligand therapies (RLTs) for cancer treatment, centered on Pb-212 alpha-emitting isotope technology. The company operates a fully integrated platform spanning drug discovery, radiolabeling, biological evaluation, and end-to-end manufacturing — including China's first scalable Pb-212 supply chain — to deliver differentiated alpha and beta radiopharmaceuticals targeting SSTR2, FAP, and PSMA-expressing tumors.

Product overview

AlphaGen Therapeutics is pioneering the discovery, development, and commercialization of innovative radioligand therapies (RLTs) for cancer treatment. The company operates as a unified platform developing next-generation targeted alpha radioligand therapies centered around Pb-212 isotope technology. The core portfolio includes [212Pb]Pb-AG1002 (SSTR2-targeting) and [212Pb]Pb-AG1206 (FAP-targeted) for solid tumors, along with AB001 (PSMA-targeting) acquired through the ARTBIO collaboration. These programs are enabled by the company's proprietary AlphaDirect™ Pb-212 generator technology, which provides a reliable and scalable supply chain for alpha radiopharmaceutical production.

Differentiator

Problem solved

Functional benefit

Products and services

• [212Pb]Pb-AG1002 Next-generation non-agonist SSTR2-targeting alpha radiopharmaceutical demonstrating high binding affinity and superior tumor-to-kidney ratio compared to agonist radioligands, with robust tumor growth inhibition and favorable safety profile in preclinical models.
• [212Pb]Pb-AG1206 Novel FAP-targeted alpha radioligand based on a macrocyclic peptide scaffold with picomolar binding affinity, featuring rapid tumor accumulation, renal clearance, and high tumor-to-kidney ratio with strong anti-tumor activity in multiple preclinical tumor models.
• AB001 Clinical-stage alpha RLT targeting prostate-specific membrane antigen (PSMA) with best-in-class potential for metastatic castration-resistant prostate cancer (mCRPC), currently in Phase 0 clinical trials; acquired into the AlphaGen pipeline via the ARTBIO strategic collaboration.
• AlphaDirect™ Pb-212 Generator Technology First-of-its-kind Pb-212 isotope isolation technology enabling distributed manufacturing of alpha radioligand therapies, providing reliable production and delivery of alpha radiopharmaceuticals from accessible raw materials; underpins AlphaGen's end-to-end supply chain in China.

Quantifiable outcome

• High tumor-to-kidney ratios demonstrated in preclinical studies for both AG1002 and AG1206
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• ARTBIOcoreStrategic or Co-development Partner · 20 February 2024Exclusive strategic collaboration agreement enabling AlphaGen to: (1) deploy and operate ARTBIO's AlphaDirect™ 212Pb isotope isolation technology in Greater China, (2) develop and commercialize AB001, a clinical-stage alpha RLT targeting PSMA for prostate cancer, in Greater China, (3) discover and develop wholly owned 212Pb programs with AlphaDirect™. Mutual option mechanism for each company to develop and commercialize each other's programs outside their respective geographies. ARTBIO receives minority equity interest in AlphaGen.
• Shanghai Institute of Materia Medica (SIMM), Chinese Academy of SciencescoreStrategic or Co-development Partner · 18 October 2023AlphaGen co-founded by Zhen Cheng, Ph.D., Director of the Molecular Imaging Center at SIMM. The company's platform is based in part on discoveries of Dr. Cheng from SIMM. SIMM provides scientific expertise and pipeline development support for AlphaGen's radiopharmaceutical programs.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ARTBIO: Clinical-stage radiopharmaceutical company developing Pb-212 alpha RLTs around the same AlphaDirect™ isotope isolation platform. Direct strategic partner and most comparable peer, sharing identical core technology and overlapping pipeline (AB001).
• Fusion Pharmaceuticals: Acquired by AstraZeneca for ~$2.4B; clinical-stage developer of targeted alpha therapies using Ac-225 conjugates. Directly comparable to AlphaGen as an alpha-emitting RLT platform, though Fusion has been more clinically advanced.
• Point Biopharma: Acquired by Eli Lilly for ~$1.4B in 2023; clinical-stage radiopharmaceutical company developing Lu-177-based RLTs including a PSMA program for mCRPC. Highly comparable business model and target indications to AlphaGen's pipeline.
• Telix Pharmaceuticals: Commercial-stage radiopharmaceutical company with approved PSMA imaging agent (Illuccix) and an emerging therapeutics pipeline. Comparable in target indication (prostate cancer), business model, and therapeutic modality ambition.
• ITM Isotope Technologies: German radioisotope manufacturer developing Lu-177-based RLTs (ITM-11). Comparable in offering integrated isotope production plus targeted radiopharmaceutical drug development, mirroring AlphaGen's vertically integrated Pb-212 strategy.
• Curium Pharma: Global nuclear medicine company manufacturing radiopharmaceuticals for diagnosis and therapy. Comparable as an established vertically integrated radiopharma manufacturer; relevant comparator for AlphaGen's manufacturing-platform ambitions.
• Sirtex Medical: Radiopharmaceutical company with commercial SIR-Spheres (Y-90 microspheres) for liver cancer and an emerging pipeline of RLTs. Comparable as a vertically integrated targeted radiotherapy developer in oncology.

Broad incumbents

• Novartis: Global pharma leader in radioligand therapy with Pluvicto (Lu-177 PSMA) and Lutathera (Lu-177 SSTR) — sets the clinical and commercial benchmark for the RLT category AlphaGen is targeting, including overlapping indications (mCRPC, NETs).
• Lantheus Holdings: Established radiopharmaceutical company with commercial products (PNT2002, Pylarify) and a development pipeline spanning diagnostics and therapeutics. Comparable as a vertically integrated radiopharma platform targeting oncology.
• Bayer: Pharma major with Xofigo (Ra-223) and broader radioligand ambitions. Comparable as a large incumbent with radiopharmaceutical commercial infrastructure and oncology focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/alphagentx

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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

Frequently asked questions about AlphaGen Therapeutics