Blue Earth secures $76.5M in financing round

Bracco Imaging subsidiary Blue Earth Therapeutics has closed on $76.5 million in a series A financing round.

The funds will support phase II studies of the company’s experimental theranostic radiopharmaceuticals for imaging and treating prostate cancer, the company said. Blue Earth has developed a radiohybrid (rh) prostate-specific membrane antigen (rhPSMA-10.1) ligand that targets PSMA receptors on cancer cells. The ligand can be labeled with isotopes such as F-18 or gallium-68 for PET imaging and with lutetium-177 and actinium-225, which destroy DNA in cancer cells at the site of tumors.

The funding round was led by Soleus Capital and co-led by Sands Capital Management, with existing investor Bracco Imaging also participating, the company said.