Alpha-9 Theranostics Inc.
6 known investors
Alpha-9 is a clinical-stage radiopharmaceutical company developing a portfolio of targeted molecules to treat cancer cells with precision. It operates in the oncology and precision medicine space.
Also known as Alpha-9 · Alpha-9 Oncology · Alpha-9 Oncology, Inc. · Alpha9
Investors · 6
Also in the syndicate · 4
Company profile
researched Aug 2026Alpha-9 Theranostics Inc., operating as Alpha-9 Oncology, is a clinical-stage radiopharmaceutical company developing differentiated, highly targeted radiopharmaceuticals for solid and hematologic malignancies. Its molecules are designed to selectively deliver radiation to tumor sites while limiting exposure to healthy tissue. The company applies a bespoke, iterative design process in which each component of a radiopharmaceutical - binder, linker, chelator and radioisotope - is optimized, supported by in-house formulation expertise and purpose-built research infrastructure. Development includes human imaging and dosimetry studies intended to give early feedback on molecule design and de-risk compounds before later-stage clinical evaluation.
The pipeline spans both diagnostic and therapeutic agents. In earlier descriptions the company was advancing imaging agents for neuroendocrine and prostate cancers using technology that simplifies attachment of Fluorine-18 to cancer-targeting biomolecules, plus a therapeutic candidate for advanced metastatic prostate cancer, alongside a theranostic approach in which the same targeting molecule can be labelled either with Fluorine-18 for PET imaging or with a particle-emitting radioisotope for therapy. More recently the company reported that its imaging agent A9-3202 entered the clinic in 2024 and that a Phase 1 study is advancing A9-3408, an Actinium-225-based radiotherapeutic. Technology underlying the programs was developed by the scientific founders and exclusively licensed from the University of British Columbia and BC Cancer.
Alpha-9 is dual-headquartered in Vancouver, British Columbia (27 E 7th Ave, Suite 300) and Boston, Massachusetts (185 Dartmouth St, 6th Floor). Leadership has included Ian McBeath as CEO (2020), David Hirsch, M.D., Ph.D. as CEO (2021-2023 period), and Paul Blanchfield, appointed CEO and board member in November 2025; Alison Fleming, Ph.D. serves as COO and Patrick Heron is Chairman of the Board.
Founding story
The company was founded by François Bénard, M.D., Kuo-Shyan Lin, Ph.D., and David Perrin, Ph.D., researchers from BC Cancer and the University of British Columbia with expertise in modifying peptides and small molecules to create novel radiopharmaceuticals, with the stated goal of improving the lives of patients affected by metastatic cancers. Its founding technology was developed by these scientific founders and exclusively licensed from UBC and BC Cancer. Founding year is reported inconsistently across sources: the 2022 Series B announcement states the company was founded in 2019, while T-Net and Preqin profiles list 2018.
Business model
Alpha-9 is a venture-backed drug developer advancing a proprietary pipeline of radiopharmaceutical imaging and therapeutic candidates through clinical development, funded by equity financings. It secures radioisotope inputs through supply agreements with multiple lutetium and actinium suppliers and builds internal chemistry, biology, translational research, radiochemistry and formulation capabilities.
Sources describe a pipeline-stage company funded by venture financing rather than product revenue; no commercial product sales or revenue figures are reported by the company's own announcements.
Traction
Alpha-9 has progressed from preclinical to clinical stage, with imaging agent A9-3202 entering the clinic in 2024 and a Phase 1 study of the Ac-225 therapeutic A9-3408 announced in December 2025; the company states several drug candidates are progressing through early clinical studies. Cumulative disclosed equity financing includes an $11 million Series A (2021), a $75 million Series B (2022) and a $175 million Series C (Q4 2024). It has secured Actinium-225 supply agreements with NorthStar Medical Radioisotopes (2024) and ITM (2025).
Latest developments
In December 2025 the company announced a Phase 1 study advancing A9-3408, an Actinium-225-based radiotherapeutic, following its imaging agent A9-3202 entering the clinic the prior year. Paul Blanchfield, previously President of Lantheus, was appointed Chief Executive Officer and board member in November 2025, following the $175 million Series C financing led by Lightspeed Venture Partners and Ascenta Capital in Q4 2024. In April 2025 Alpha-9 signed a supply agreement with ITM Isotope Technologies Munich SE for Actinium-225 produced by Actineer Inc.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Alpha-9 operates in the targeted radiopharmaceutical segment of precision oncology, an area described in company and investor commentary as advancing through scientific progress, translational data and clinical efficacy. The company describes itself as developing best-in-class molecules against a range of targets and states it is backed by top-tier investors and founders with radiopharmaceutical experience.
The company positions its approach around bespoke, component-by-component optimization of each radiopharmaceutical and early human imaging and dosimetry studies, which it describes as a capital-efficient and rapid path that de-risks compounds before later-stage trials. Additional stated differentiators include proprietary Fluorine-18 labeling chemistry licensed from UBC and BC Cancer, in-house formulation capability, and secured access to Lutetium-177 and Actinium-225 supply.
Technology
The company engineers radiopharmaceuticals by iteratively optimizing each molecular component - binder, linker, chelator and radioisotope - drawing on a toolbox of technologies and chemistries said to be extensible to multiple oncology targets. A core technology simplifies the attachment of Fluorine-18 to cancer-targeting biomolecules for PET imaging, and the same targeting molecule can be paired with a particle-emitting radioisotope for therapy, forming a theranostic pairing. Therapeutic programs use Lutetium-177 and Actinium-225; Ac-225 emits high-energy alpha particles with short tissue penetration range. Human imaging and dosimetry studies are used early to inform molecule design.
Go-to-market
The company's therapeutic and diagnostic candidates are directed at patients with solid and hematologic malignancies, including metastatic cancers such as prostate and neuroendocrine cancers, delivered through clinical trials and, ultimately, oncology care settings.
Geography
Dual headquarters in Vancouver, British Columbia and Boston, Massachusetts, with research facilities built out in Vancouver housing chemistry, biology, translational research and radiochemistry teams. Isotope supply partners are based in Germany/Canada (ITM and its Actineer joint venture with Canadian Nuclear Laboratories) and the United States (NorthStar Medical Radioisotopes).
History
Alpha-9 was established in Vancouver by UBC and BC Cancer researchers (2018 or 2019 depending on source). In June 2020 it appointed Simon Pimstone and Michael Reitermann as independent non-executive directors, with Pimstone as Chairman, while Ian McBeath served as CEO. In April 2021 it raised an $11 million Series A led by Longitude Capital, and in December 2022 an oversubscribed $75 million Series B led by Nextech Invest, which funded advancement of five programs toward the clinic and completion of Vancouver research facilities. In March 2023 the company added Jutta Wanner as SVP of Drug Discovery and formed a Scientific Advisory Board with Jason Lewis and Thomas Ruth. It signed an Actinium-225 supply agreement with NorthStar Medical Radioisotopes in January 2024, raised a $175 million Series C co-led by Lightspeed Venture Partners and Ascenta Capital in Q4 2024, and entered an Ac-225 supply agreement with ITM Isotope Technologies Munich in April 2025. Paul Blanchfield was appointed CEO in November 2025, and in December 2025 the company reported a Phase 1 study advancing the Ac-225 radiotherapeutic A9-3408.
Risks & controversies
As a clinical-stage drug developer, the company is subject to risks it has itself disclosed, including inherent risks of drug research and development, delays in development testing, regulatory changes, lack of therapeutic efficacy, unacceptable side effects, dependence on partners, inability to raise sufficient financing, and competition. Its therapeutic programs depend on Actinium-225, a scarce radioisotope with an approximately ten-day half-life that requires sophisticated manufacturing and distribution. Sources also report inconsistent founding years (2018 versus 2019).
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 9
launches, deals, and filingsThe company announced a Phase 1 study advancing A9-3408, an Ac-225-based radiotherapeutic, building on its imaging agent A9-3202, which entered the clinic in 2024.
Paul Blanchfield, previously President of Lantheus and formerly in senior roles at Takeda and Shire Pharmaceuticals, was appointed CEO and a member of the Board of Directors. Patrick Heron is Chairman of the Board.
ITM will supply therapeutic medical radioisotope Actinium-225, produced by Actineer Inc., the joint venture between ITM and Canadian Nuclear Laboratories, to support Alpha-9's radiopharmaceutical programs. Contract details were not disclosed.
Series C financing led by Lightspeed Venture Partners and Ascenta Capital, completed in Q4 2024, to advance the company's pipeline of targeted radiopharmaceuticals.
$175M source ↗
Jutta Wanner, Ph.D. appointed Senior Vice President of Drug Discovery to lead discovery and early-stage development. Jason Lewis, Ph.D. (Memorial Sloan Kettering Cancer Center) and Thomas Ruth, Ph.D. (TRIUMF and BC Cancer Research Centre, emeritus) joined the newly formed Scientific Advisory Board.
Proceeds earmarked for progression of five candidates into the clinic, expansion of early-stage programs, team growth and completion of purpose-built research facilities in Vancouver. New board members included Melissa McCracken (Nextech Invest), Patrick Heron (Frazier Life Sciences), Cory Freedland (Samsara BioCapital) and Matthew Young (Longitude Capital), with Darcy Mootz as board advisor.
$75M source ↗
Series A financing led by Longitude Capital with participation from BVF Partners L.P. and insiders, to advance a portfolio of radiotherapeutics and diagnostics.
$11M source ↗
Alpha-9 Theranostics appointed two senior independent non-executive directors: Simon Pimstone, MD, founder and CEO of Xenon Pharmaceuticals, as Chairman of the Board, and Michael Reitermann, former COO and Managing Board Member of Siemens Healthineers AG. Ian McBeath was then Chief Executive Officer.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Alpha-9 Theranostics Inc.alpha9tx.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Alpha-9 Theranostics Inc. do?
- Clinical-stage radiopharmaceutical company engineering targeted molecules that deliver radiation to tumor cells.
- Who are Alpha-9 Theranostics Inc.'s investors?
- Alpha-9 Theranostics Inc.'s investors include Frazier Life Sciences, WUTIF Capital.