Viewpoint Molecular Targeting, Inc., a radiopharmaceutical company developing precision alpha-particle oncology therapeutics and complementary diagnostic imaging agents, announced on January 8, 2021, it has closed the third and final tranche of its Series A financing for a total of approximately $13 million. Proceeds from the financing will be used to advance the Company’s two lead programs, VMT01 and VMT-alpha-NET, into Phase 1 human clinical studies, further develop its proprietary VMT-alpha-GEN isotope generator, and fund general operating expenses.
The Company plans to initiate its VMT01 and VMT-alpha-NET programs into Phase 1 imaging studies in the first half of 2021, followed by Phase 1/2a therapy trials for the treatment of metastatic melanoma and neuroendocrine tumors at two leading academic institutions.
Viewpoint’s alpha-particle radiotherapy technology originated from the University of Iowa in the laboratory of faculty member Michael K. Schultz, Ph.D., Co-Founder and Chief Science Officer of Viewpoint. The Company is currently operating in the University of Iowa BioVentures Center, a uniquely designed facility to support biotechnology start-up companies.