Aug-2022
AtomVie Global Radiopharma Inc. Announces its Spinout and Series A Financing with Avego
AtomVie Global Radiopharma Inc. (AtomVie) today announced the successful closing of its Series A financing with Avego Management, LLC (“Avego”), a healthcare investment firm. AtomVie is a global leading CDMO (Contract Development and Manufacturing Organization) for the development, manufacturing, and global distribution of radiopharmaceuticals and has received a financing commitment of at least $40 million.
AtomVie is a spinout from the CPDC (Centre for Probe Development and Commercialization), and within CPDC, the CMO business unit, now AtomVie, served as the GMP manufacturer and supplier of finished-dose therapeutic radiopharmaceuticals for the past seven years. AtomVie will be expanding its current clinical GMP manufacturing capacity of radiopharmaceutical products to include commercial stage production through the construction of a new purpose-built state of the art facility designed to accommodate multiple isotopes. Moreover, AtomVie complements its manufacturing and logistics expertise with a high-standard quality management system and global regulatory support.
“We worked relentlessly over the past few years in preparation of this moment,” said Bruno Paquin, CEO of AtomVie. “All the employees at AtomVie are extremely grateful to Avego for their support and their confidence. We are excited to launch AtomVie, continuing the culture of excellence that the CPDC has created and working with Avego for the long-term success of AtomVie.”
“Avego is thrilled to partner with AtomVie to support the continued growth of one of the leading radiopharmaceutical CDMOs,” said Thomas Vandervort, Managing Partner of Avego. “The AtomVie team and their collective radiopharmaceutical expertise are second to none, and our partnership will advance the development of radiopharmaceuticals and improve patient outcomes.”
AtomVie has strengthened its operational management with the recent appointment of Dodi Adar, Chief Operating Officer and the promotion of Rezwan Ashique, VP Operations. Ms. Adar brings 17 years of experience in the pharmaceutical industry with expertise in fostering growth and streamlining operational processes. Mr. Ashique was an instrumental part of CPDC’s success for over eight years with more than 20 years of extensive expertise in radiochemistry, development, and GMP manufacturing of ready-to-use radiopharmaceuticals.
With its world-class employees and its in-depth experience in the radiopharmaceutical industry, AtomVie empowers the development of next-generation radiotherapeutics worldwide.
Read the full press release here