AdvanCell, a clinical-stage radiopharmaceutical developer, has inked a lease near Boston to produce its prostate cancer candidate stateside and set roots down for its U.S. headquarters.
The company, which was founded in 2019 in Sydney, Australia, will take over a 128,000-square-foot facility at Innovation Park in Andover, Massachusetts, just outside of Boston. The site will both serve as AdvanCell's "U.S. global headquarters" and eventually function as a manufacturing site to support the company's lead asset and its broader pipeline of targeted cancer therapies, it said in a release this week.
The move plays into AdvanCell's expansion strategy to establish U.S.-based production capacity, as well as bolster phase 2 enrollment for its midstage study. The company also said it is working with a unnamed CDMO to lock down drug product production alongside the new Andover facility, which will need to be fitted out and qualified by regulators.
AdvanCell is looking to advance its lead-212-based radionuclide treatment, dubbed ADVC001, toward phase 3 trials to help treat metastatic prostate cancer. AdvanCell’s believes ADVC001 will prove itself to be a best-in-class targeted alpha therapy. The therapy is designed to deliver radiation at a cellular level to effectively kill prostate cancer cells while minimizing toxicity.
Financial details or the length of the lease weren’t disclosed in AdvanCell's June 22 press release.
“Innovation Park is the ideal setting for our global headquarters and first manufacturing site in the U.S.,” Dayle Hogg, AdvanCell’s chief operating officer, said in a statement. “This site will be foundational to AdvanCell's next stage of growth, enabling us to scale our proprietary Lead-212 targeted alpha therapy manufacturing for Phase 3 and future commercial production.”
The Innovation Park campus also touts tenant Generate Biomedicines, which recently raised $400 million earlier this year in a public offering.
For its part, AdvanCell also boasts a manufacturing and R&D facility in Brisbane, Australia.
In February 2025, AdvanCell hauled in $112 million in an oversubscribed series C funding round co-led by SV Health Investors, Sanofi Ventures, Abingworth and SymBiosis.
Industry interest in the radiopharmaceutical realm has increased substantially in recent years, featuring notable deals such as AstraZeneca’s $2 billion buyout of Fusion Pharmaceuticals, Bristol Myers Squibb’s $4.1 billion acquisition of RayzeBio and Eli Lilly’s absorption of Point Biopharma Global for $1.4 billion.