Clinical-stage radiopharmaceutical company $175M oversubscribed Series C - October 2024 Founded 2019 - UBC / BC Cancer spin-out Targeted alpha & beta therapy for cancer Actinium-225 & Lutetium-177 supply secured Boston + Vancouver operations $258M total funding raised Clinical-stage radiopharmaceutical company $175M oversubscribed Series C - October 2024 Founded 2019 - UBC / BC Cancer spin-out Targeted alpha & beta therapy for cancer Actinium-225 & Lutetium-177 supply secured Boston + Vancouver operations $258M total funding raised
Company Profile · Radiopharmaceuticals · Oncology

Alpha-9 Oncology

Engineering bespoke molecules that carry cancer-killing isotopes straight to the tumor - and leave healthy tissue alone.

Clinical-stage Theranostics Targeted alpha therapy ~32 employees
Alpha-9 Oncology company logo
Alpha-9 Oncology - the clinical-stage radiopharmaceutical company headquartered in Boston with radiochemistry operations in Vancouver.
2019
Founded
$258M
Total funding
$175M
Series C · 2024
2
Clinical candidates
What the company does

The cancer drug that knows where to go

Alpha-9 Oncology is a clinical-stage biotech building radiopharmaceuticals - medicines that pair a tumor-seeking molecule with a radioactive isotope. The molecule finds the cancer; the isotope destroys it, at a range measured in cell diameters.

Most cancer therapies circulate through the whole body and rely on the tumor absorbing enough of the dose to matter. Radiopharmaceuticals invert that logic. A targeting molecule - a peptide or small molecule - is engineered to lock onto a marker that appears on tumor cells. Attached to it, through a chemical chelator, is a radioactive payload. Where the molecule binds, the radiation lands.

Alpha-9's distinctive move is refusing to treat any part of that molecule as fixed. Through what it calls a "bespoke, iterative process," the company independently optimizes four components - the binder that recognizes the tumor, the linker that connects the pieces, the chelator that holds the isotope, and the radioisotope itself. Tune each, and the whole molecule delivers more radiation to the tumor and less everywhere else.

The isotopes matter as much as the targeting. Alpha-9 works with alpha emitters such as Actinium-225 and beta emitters such as Lutetium-177. Alpha particles are heavy and travel only a few cell widths before stopping - enough energy to kill a tumor cell without irradiating the tissue next door. That physics is where the company's name comes from.

The result is a platform, not a single drug: a repeatable way to design paired diagnostic-and-therapeutic molecules aimed at validated oncology targets across both solid and liquid tumors.

The approach

Four parts. All optimized.

A radiopharmaceutical is only as good as its weakest component. Alpha-9 engineers each one in-house and tunes them together.

Part 01
Binder

Recognizes and locks onto a marker on the tumor cell surface.

Part 02
Linker

Connects the binder to the payload and tunes how the molecule behaves in the body.

Part 03
Chelator

Cage that grips the radioactive isotope so it does not release early.

Part 04
Radioisotope

Alpha or beta emitter that delivers the tumor-killing dose.

Supported by in-house formulation and manufacturing - the "CMC" work of making the same molecule the same way, every time.

Pipeline & products

From the scan to the dose

A9-3408

An Actinium-225-based targeted radiotherapeutic - the company's alpha-emitting therapeutic candidate.

Phase 1

A9-3202

A targeted imaging agent used to identify and confirm patients likely to respond, then match them to therapy.

In the clinic

Bespoke platform

The discovery engine that generates paired diagnostic-and-therapeutic candidates across validated oncology targets.

Discovery → clinical

Theranostics in practice: image the tumor first, then treat it with a matched radioligand.

Alpha-9 employs a bespoke, iterative process to optimize each part of the molecule - binder, linker, chelator, and radioisotope.

— Alpha-9 Oncology, on its approach
Who it serves & the problem it solves

Precision for patients with few options

Who benefits

Cancer patients

The end beneficiaries are people with solid and liquid tumors, treated through oncologists and hospital nuclear-medicine departments. As a clinical-stage company, its near-term "users" are trial sites and investigators.

The problem

Collateral damage

Conventional systemic therapy exposes healthy tissue to toxicity. Alpha-9's targeting confines the radioactive dose to the tumor, aiming to widen the gap between efficacy and side effects.

The market

A fast-rising field

Radioligand therapy went mainstream after big-pharma successes and acquisitions. Alpha-9 competes on platform breadth and secured isotope supply rather than a single asset.

How it's different

Not one drug - a method

Platform over single shot

Repeatable by design

By optimizing all four molecular components independently, Alpha-9 built a discovery engine meant to generate many candidates - the reason investors backed a system rather than a lone asset.

Supply chain as moat

Fuel secured early

Actinium-225 and non-carrier-added Lutetium-177 are among the scarcest therapeutic isotopes on Earth. Alpha-9 locked in long-term supply through ITM and NorthStar before scaling.

Two-city model

Boston + Vancouver

Boston brings capital and clinical reach; Vancouver brings the radiochemistry talent and manufacturing that trace back to its UBC / BC Cancer roots.

In-house CMC

Boring reliability

Making radioactive medicine reproducibly is the unglamorous hard part. Alpha-9 poured Series C money into chemistry, manufacturing, and controls - the real durable advantage.

Funding & business model

$258M to get molecules into humans

Alpha-9 runs the classic clinical-stage biotech model: venture and strategic capital funds R&D toward clinical milestones, partnerships, and eventual commercialization. The 2024 Series C alone was oversubscribed at $175M.

Series A · 2021
$11M
Series B · 2022
$75M
Series C · 2024
$175M

Series C investors: Lightspeed Venture Partners & Ascenta Capital (co-leads), with General Catalyst, a16z Bio + Health, RA Capital Management, Janus Henderson Investors, Delos Capital, Digitalis Ventures, Lumira Ventures, and abrdn Inc. Figures per public announcements; bar widths are proportional and approximate.

Founders & leadership

From the lab bench to the clinic

Co-founder

François Bénard, MD

Radiopharmaceutical development leader from BC Cancer with 20+ years in the field.

Co-founder

Kuo-Shyan Lin, PhD

Head of BC Cancer's Radiochemistry Program.

Co-founder

David Perrin, PhD

Professor of Chemistry at UBC with deep medicinal-chemistry expertise.

CEO

Paul Blanchfield

Chief Executive Officer, appointed to lead the company's clinical-stage push.

Executive team

Operating bench

COO Alison Fleming, PhD · CMO Robert Meehan, MD · CFO Clint Musil · CRO Jutta Wanner, PhD.

Board chair

Patrick Heron

Chairs a board that includes Shelley Chu, Evan Rachlin, Steven Stein, and Jean-Jacques Bienaimé.

Partnerships

Securing the scarcest inputs

ITM (Munich)

Global master clinical supply agreement for non-carrier-added Lutetium-177 for Alpha-9's beta-emitting candidates.

NorthStar

Long-term supply of high-purity non-carrier-added Actinium-225 for the targeted alpha therapy programs.

UBC / BC Cancer

The academic origin and ongoing scientific foundation - the ecosystem all three founders came from.

Timeline

Six years, four rounds

2019

Founded as a UBC / BC Cancer spin-out

Bénard, Lin, and Perrin launch the company (as Alpha-9 Theranostics) to move radiopharmaceutical research into patients.

2021

$11M Series A

Early financing to advance a portfolio of radiotherapeutics and diagnostics.

2022

$75M Series B and a Vancouver facility

An oversubscribed round funds a new manufacturing site and pipeline expansion.

2024

Isotope deals and a $175M Series C

Ac-225 and Lu-177 supply agreements land alongside an oversubscribed Series C to push candidates into human studies.

2025

New CEO, clinical drive

Paul Blanchfield appointed CEO as imaging and therapeutic candidates move through trials.

Good to know

Frequently asked

What does Alpha-9 Oncology do?

It is a clinical-stage biotech that designs bespoke radiopharmaceuticals - molecules that carry cancer-killing radioactive isotopes directly to tumors while sparing healthy tissue.

Who founded it, and when?

Founded in 2019 by François Bénard, Kuo-Shyan Lin, and David Perrin, researchers from the University of British Columbia and BC Cancer.

How much has it raised?

Roughly $258M in total, including an $11M Series A, a $75M Series B in 2022, and an oversubscribed $175M Series C in October 2024.

What's in the pipeline?

Disclosed candidates include the imaging agent A9-3202 and A9-3408, an Actinium-225-based targeted radiotherapeutic in Phase 1 development.

Where is it located?

It runs a dual-hub operation - headquartered in Boston, Massachusetts, with radiochemistry and manufacturing operations in Vancouver, British Columbia.

Connect & explore

Links & sources

Video: Alpha-9 does not publish an official YouTube channel; search "Alpha-9 Oncology radiopharmaceuticals" on YouTube for interviews and radioligand-therapy explainers. Product demo videos were not publicly available at the time of writing.

radiopharmaceuticalstargeted alpha therapytheranosticsactinium-225lutetium-177oncologyprecision medicinenuclear medicineclinical-stage biotech

Profile compiled from public sources including a9oncology.com, LinkedIn, BioSpace, FinSMEs, Precision Medicine Online, PR Newswire, UBC Faculty of Medicine, and the Boston Globe. Financial and pipeline figures are approximate and reflect publicly announced information.