ICYMI: Starget Pharma Closes $18M Series A Financing and Announces Strategic Collaboration with Center for Molecular Imaging and Therapy in Louisiana

Starget Pharma Inc, a U.S. clinical-stage radiopharmaceutical company, announced the closing of its $18M Series A financing round and a strategic collaboration with the Center for Molecular Imaging and Therapy (CMIT) to develop next-generation peptide radioligand therapies for cancer.

The Series A round includes participation from U.S.-based investors Louisiana Economic Development’s Louisiana Growth Fund (LED), Cancer Focus Fund, and CMIT’s parent entity BRF, as well as Ilex Medical Ltd (TLV: ILX) and additional investors. Proceeds from the financing will support the advancement of Starget’s pipeline toward clinical development, including its lead first-in-class SSTR3-targeted theranostic pair for sarcoma, neuroendocrine tumors (NETs), and malignant melanoma, and expand translational and manufacturing capabilities in the United States.
The collaboration aligns with the strategic goals of Louisiana Economic Development and its Louisiana Innovation (LA.IO) department, which aims to attract and scale high-growth, technology-enabled companies across advanced sectors, including life sciences. Through LA.IO, LED recently launched the Louisiana Growth Fund, a public-private investment vehicle designed to support innovative companies building long-term economic value in the state.

“This investment reflects Louisiana’s commitment to backing life sciences companies that pair advanced technology with real-world clinical impact,” Chief Innovation Officer at Louisiana Economic Development Josh Fleig said. “Starget brings together internationally developed science with a clear, U.S.-based strategy to accelerate drug development through in silico innovation. That combination of global innovation and domestic execution is exactly the kind of company Louisiana is primed to help scale.”

Read the full press release here.