Coralville-based Viewpoint Molecular Targeting raised $8 million in investments through Series A financing for radiopharmaceutical technology.
Radiopharmacy, also known as nuclear pharmacy, uses radioactive materials to help patients.
Viewpoint Molecular Targeting will use the funding to begin Phase 1 imaging studies on two radiopharmaceutical programs that “have the potential to have a transformational impact in treating cancer.”
“This successful financing represents a major step forward for Viewpoint and adds significant momentum as we work to advance our two lead radiopharmaceutical programs,” said Frances Johnson, Viewpoint Molecular Targeting’s chief medical officer and acting CEO, in a news release.
“The ability to determine if a tumor will respond to our therapies through the use of our imaging agents uses a unique ‘theranostic’ (a combination of therapeutic and diagnostic) approach, which will potentially allow us to optimize patient treatment and outcomes.”
The company also will use funds for developing its radioisotope production technology.
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