Viewpoint Molecular Targeting, a pharmaceutical startup based in Coralville, has raised $8 million in Series A financing.
Viewpoint is a University of Iowa startup pharmaceutical company that has developed novel therapy and companion diagnostics for cancer. The company says it expects to complete one or more additional tranches of this financing on the same terms over the next few weeks.
Proceeds from the financing will be used to advance the Company’s two lead programs, VMT01 and VMT-𝛼-NET, into Phase 1 human clinical studies, further develop its proprietary VMT-𝛼-GEN isotope generator, and fund general operating expenses.
“This successful financing represents a major step forward for Viewpoint and adds significant momentum as we work to advance our two lead radiopharmaceutical programs, VMT01 and VMT-𝛼-NET,” said Frances Johnson, MD, Chief Medical Officer and Acting CEO of Viewpoint in an announcement. “Backed by recognition from the scientific community and numerous founding grants and awards from multiple agencies, we believe that our 𝛼-particle radiopharmaceutical technologies have the potential to have a transformational impact in treating cancer.”
Johnson says the company is working to advance these two lead programs into the clinic beginning before year-end 2020.
To date, the company’s VMT01 program has been funded by the National Cancer Institute (NCI) for awards of nearly $6M.
Middle Bit: Viewpoint Molecular Targeting awarded $2 million SBIR grant -Oct. 11, 2019