Existing major shareholders including OrbiMed and Tybourne Capital, along with a global pharmaceutical company, participated in the funding round.
Capital will be deployed for the development of Astatine-211 based therapies, with clinical entry targeted for 2027.
D&D Pharmatech announced that it has decided to directly acquire new shares of its U.S. affiliate, Z-Alpha, for approximately 10 billion won. Z-Alpha plans to utilize the proceeds from this investment to advance the development of alpha-emitting radiopharmaceuticals, aiming to enter clinical trials by 2027.
D&D Pharmatech held a board meeting on the 12th and resolved to acquire 4,299,965 new shares issued by Z-Alpha Holdings, Inc.
The investment round saw participation from the company's three major existing shareholders: OrbiMed, Tybourne Capital Management, and D&D Pharmatech. A global pharmaceutical firm also joined as a strategic investor.
Z-Alpha is a U.S.-based biotechnology company developing next-generation targeted radiopharmaceuticals for solid tumors, utilizing the alpha-emitting radioisotope Astatine-211. The secured funds will be used for the research and development of multiple Astatine-based drug candidates.
The company expects Astatine-211 to serve as a viable alternative to overcome the limitations of existing targeted radiotherapies, citing its distinct advantages in production methods and decay pathways.
D&D Pharmatech established the joint venture in 2022 by contributing the alpha-radiopharmaceutical pipeline previously developed by its U.S. subsidiary, Neuraly. Through subsequent share exchanges, the company secured a position as a top-three shareholder in Z-Alpha, with D&D Pharmatech CEO Seulki Lee serving on the Z-Alpha board. While existing stakes are held by the U.S. subsidiary, the company explained that the headquarters participated directly this time to enhance the strategic impact of the investment.
CEO Seulki Lee noted that Z-Alpha has secured multiple Astatine-211 based candidates through its proprietary platform, adding that the participation of a global pharmaceutical company serves as validation of the therapy's potential and Z-Alpha's competitiveness.
"We will continue to strengthen our collaboration with Z-Alpha to increase the success rate of our development pipeline and ensure these achievements translate into enhanced corporate value," Lee stated.
