Mariana Oncology Raises $175M in Series B Funding to Advance Next-Generation Radiopharmaceuticals

Watertown, MAMariana Oncology, a fully integrated, next-generation radiopharmaceuticals company, today announced the closing of an oversubscribed $175 million Series B financing co-led by Forbion and Deep Track Capital. Founding investors Atlas Venture, Access Biotechnology, and RA Capital Management are joined by additional new investors Nextech Invest, Surveyor Capital (a Citadel company), and Eli Lilly and Company.

The proceeds from the financing will support the advancement of Mariana Oncology’s novel portfolio of precision, next-generation radiopharmaceuticals including its lead candidate, MC-339, as the company transitions into a clinical-stage organization.

“We are excited to welcome Forbion and Deep Track Capital as our new lead investors and to have the continued support of our founding investors,” said Simon Read, Ph.D., Founder and Chief Executive Officer of Mariana Oncology. “This funding will allow us to accelerate the development of our radiopharmaceuticals and bring them to patients with unmet medical needs.”

Radiopharmaceuticals are a class of drugs that use radioactive materials to treat cancer. They work by targeting specific cancer cells and delivering radiation directly to those cells while minimizing damage to healthy cells.

Mariana Oncology’s radiopharmaceuticals are designed to be more targeted and effective than traditional radiopharmaceuticals. The company’s lead candidate, MC-339, is a peptide-based radiopharmaceutical that targets small-cell lung cancer. MC-339 is currently in preclinical development, and the company plans to initiate clinical trials in 2024.

The radiopharmaceuticals market is expected to grow significantly in the coming years, driven by the increasing demand for more targeted and effective cancer treatments. Mariana Oncology is well-positioned to capitalize on this growth, with a pipeline of innovative radiopharmaceuticals that have the potential to make a significant impact on the lives of patients with cancer.

The radiopharmaceuticals market is growing rapidly, driven by the increasing demand for more targeted and effective cancer treatments. According to a report by Grand View Research, the global radiopharmaceuticals market is expected to reach $22.1 billion by 2028, growing at a CAGR of 7.2% from 2023 to 2028.

Similar Startups in the Radio Pharmaceuticals Industry

There are a number of other startups that are developing next-generation radiopharmaceuticals. Some of the most notable include:

  • Alpha Tau Medical: This company is developing alpha-emitting radiopharmaceuticals for the treatment of cancer.
  • Ionis Pharmaceuticals: This company is developing RNA-targeted radiopharmaceuticals for the treatment of cancer and other diseases.
  • NanoTherapeutics: This company is developing nanoparticle-based radiopharmaceuticals for the treatment of cancer.

Deal Table for Mariana Oncology

Key PeopleInvestorsAmount InvestedSectorFunding Round
Simon Read, Ph.D.Forbion, Deep Track Capital$175 millionRadiopharmaceuticalsSeries B
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