AtomVie Global Radiopharma raises over $90M to Complete its New Facility Buildout

HAMILTON, ON, June 1, 2023 /PRNewswire/ - AtomVie Global Radiopharma Inc. (AtomVie), a global-leading CDMO for the GMP manufacturing and worldwide distribution of radiopharmaceuticals, today announced the closing of its Tranche 2 Series A financing led by its current investor, Avego Management, LLC ("Avego"). Along with Tranche 1 closed in August 2022, AtomVie has now raised over $90M, an amount sufficient to complete the buildout and equip its 64,000 sq.ft. purpose-built, state-of-the-art, scalable facility.

"We are extremely delighted to expand our relationship with Avego. This investment solidifies AtomVie's position as a world-class CDMO for the clinical and commercial manufacturing of radiopharmaceuticals, in servicing our clients and improving the lives of thousands of patients all over the globe. With the new facility in sight for late 2024, we are excited to announce that we are currently pre-selling manufacturing capacity" said Bruno Paquin, CEO of AtomVie. With its world-class employees and its in-depth experience in the radiopharmaceutical industry, AtomVie empowers the development of next-generation radiotherapeutics worldwide.

"Avego is pleased to expand its partnership with AtomVie, a collaboration that underscores our commitment to growth and innovation. AtomVie's new facility, set to open in late 2024, will handle meaningful clinical and commercial programs with advance booking of manufacturing capacity available today" said Kevin McNeill, Partner at Avego.

AtomVie will be exhibiting at the 2023 SNMMI Annual Meeting, during which further highlights of its new facility will be unveiled at Booth #2024.

AtomVie, a spinout of the Centre for Probe Development and Commercialization (CPDC), is a global leading CDMO for the GMP manufacturing and global distribution of clinical and commercial radiopharmaceuticals. Building upon the expertise and high-quality services since 2008 from CPDC, AtomVie offers the full range of scientific, technical, regulatory, quality, logistics and business expertise combined with a specialized infrastructure for the development of radiopharmaceuticals from clinical studies to the commercial marketplace. AtomVie currently serves international clients conducting studies in over 17 countries worldwide.

Avego, founded in 2015 by former healthcare entrepreneurs, is a multi-strategy healthcare-focused investment firm with offices in Georgia and New York. Through its three strategies, which include private equity, venture capital, and a hedge fund, Avego invests in private and public companies developing and commercializing innovative products and services for patients, practitioners, and other stakeholders across the healthcare continuum. To learn more about Avego, visit www.avego.com or contact: [email protected].

SOURCE AtomVie Global Radiopharma Inc.