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Actithera lands $75.5M to chase next-gen cancer radiopharma

Oslo- and Cambridge-based Actithera raised $75.5 million in Series A funding to advance radiopharmaceutical therapies targeting fibroblast activation proteins (FAP), aiming for clinical trials in 2026.

Why it matters: Radiopharmaceuticals—precision cancer treatments combining radiation and targeted delivery—are drawing major investor and pharma interest since Novartis' prostate cancer treatment, Pluvicto, earned $1.3B in sales in 2025.

Backstory: The company designs drugs to tightly bind proteins like FAP, which support tumor growth, triggering a “cross-fire effect” that kills surrounding cancer cells. FAP is also a hot target for competitors like Novartis and Ratio Therapeutics.

Lone wolf: Raising a large Series A without a full leadership team is nearly unheard of, but Actithera did it! The company was founded in 2021 by radiopharma veteran Andreas Goutopoulos, formerly of EMD Serono, who was the sole employee at the time of the closing. Goutopoulos pitched to over 250 funds, proving persistence pays off.

Big picture: Radiopharmaceuticals are resurging due to improved design and clinical results. Since 2022, private radiopharma startups have raised over $1.1B. Pharma giants like BMS and Lilly have also entered the space via acquisitions.

What’s next: Actithera hasn’t disclosed its cancer targets but plans multi-indication trials by 2026.