AlphaGen Therapeutics Launches with Seed Financing to Develop Novel Targeted Radioligand Therapies - October 18, 2023

SHANGHAI, China, October 18, 2023 – AlphaGen Therapeutics (“AlphaGen”), a biopharmaceutical company focused on the discovery, development, and commercialization of innovative targeted radioligand therapies (RLTs), announced its launch with seed financing co-led by Eight Roads Ventures China (“ERVC") and its sister fund.

Incubated by highly experienced investors in company formation and anchored with a first-in-China, clinical-stage Pb-212 RLT, AlphaGen was founded to advance its RLT pipeline with an initial focus on advancing proprietary next-generation targeted alpha RLTs and highly differentiated beta RLTs. The seed financing will enable AlphaGen to advance the clinical development of its lead Pb-212 program and build its research and development capabilities with a focus on next-generation RLTs.

The radiopharmaceutical industry represents a market of over $7 billion globally, with targeted alpha RLTs representing the next wave of innovation in the radiopharmaceutical field. However, the most popular alpha radionuclide being pursued in the U.S. and Europe, Ac-225, has limited global supply that cannot support commercial demand at current levels. This issue is especially pronounced in China, given the lack of domestic supply of not only Ac-225 but also many other therapeutic isotopes (e.g., Lu-177), which has led to manufacturing and commercial challenges developing RLTs in China. AlphaGen aims to overcome this hurdle by securing a next-generation Pb-212 isolation technology.

In conjunction with the financing, globally renowned radiopharmaceutical academic, Zhen Cheng, Ph.D., Director of the Molecular Imaging Center at Shanghai Institute of Material Medica (SIMM), Chinese Academy of Sciences, joins AlphaGen as Scientific Co-Founder and Chairman of the Scientific Advisory Board (SAB). Dr. Cheng is a Fellow of the Royal Society of Chemistry (RSC) and the Society of Photo Optical Instrumentation Engineers (SPIE). His research has focused on the discovery and development of novel theranostic agents, non-invasive imaging techniques, and bionanotechnology for cancer early detection and treatment. Prior to joining SIMM, Dr. Cheng was Associate Professor of Radiology and a member of the Molecular Imaging Program at Stanford (MIPS), Bio-X Program, Canary Center for Cancer Early Detection, and Department of Radiology at Stanford University. He also served as President of the Chinese American Society of Nuclear Medicine and Molecular Imaging and Board Director of the Radiopharmaceutical Sciences Council of the Society of Nuclear Medicine and Molecular Imaging (SNMMI). In his current role, Dr. Cheng will provide critical guidance on the company’s scientific and pipeline strategy.

“I am thrilled at the opportunity to work closely with ERVC to co-found AlphaGen,” said Zhen Cheng, Ph.D., Scientific Co-Founder and Chairman of the Scientific Advisory Board at AlphaGen. “The company’s breakthrough science and cutting-edge Pb-212 platform represent an exciting future for RLTs in China and around the world. ERVC is world-class company builder, and I am excited to further AlphaGen’s mission to develop novel breakthrough therapies for patients.”

“RLTs in China and globally represents a tremendous opportunity, and we have been actively monitoring this field for the last few years before conceiving AlphaGen,” said Rebecca Lin, Senior Partner at ERVC. “With Dr. Cheng’s deep experience and the company’s cutting-edge platform, AlphaGen is in a strong position to leverage our global and domestic network to develop and bring targeted and differentiated RLTs to the market .”

About AlphaGen Therapeutics

Co-founded by Eight Roads Ventures China and its sister fund, AlphaGen Therapeutics is a radiopharmaceutical company focused on the discovery, development and commercialization of innovative targeted radioligand therapies (RLTs). Leveraging its cutting-edge technology platform, the company aims to develop targeted RLTs for patients in China and around the world. For more information, please visit www.alphagentx.com and follow us on Wechat and LinkedIn.

About Eight Roads Ventures

Eight Roads Ventures is a global proprietary investment firm backed by Fidelity, managing over $11 billion of assets across China, India, Europe, Israel, Japan and the U.S. Our 50-year history of investing includes partnerships with over 300 healthcare and technology companies globally. Some of Eight Roads Ventures’ global investments include Alibaba, Beam Therapeutics, Pony.ai, Innovent Biologics, Insilico Medicine, Hibob, Medbanks, Semma Therapeutics and WuXi App.

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