Evergreen Theragnostics, a clinical-stage radiopharmaceutical company, today announced the successful completion of a $26 million capital raise supported by both existing shareholders, such as the Club degli Investitori, and new institutional investors, including LIFTT. The funding advances Evergreen's new discovery pipeline into clinical trials, supports the commercialisation of its diagnostic agent and further expands CDMO's capabilities to meet growing customer demand.

James Cook, CEO of Evergreen Theragnostics, commented: "We have advanced our discovery pipeline and are excited to take the next step in development. As we continue to work with the FDA on the approval of our Ga-68 DOTATOC diagnostic kit, this new funding will allow us to rapidly advance our new theragnostic pair, EVG-321, into clinical trials. In addition, our CDMO business is continuing to grow, as we bring in new customers and expand our efforts with existing ones. We appreciate the confidence placed in us by our current and new shareholders in advancing our priorities."

The decision of the Club degli Investitori to participate in this round underlines its continued confidence in Evergreen Theragnostics' potential in the field of radiopharmaceuticals. Since 2020, the Investors Club has demonstrated its commitment by investing approximately $5 million over the years. This funding marks another important step in the collaboration between the Club degli Investitori and Evergreen Theragnostics, further strengthening the bond between the two entities.

Andrea Rota, CEO of Club degli Investitori, commented: "We have been privileged to support Evergreen Theragnostics from the very beginning. James Cook has executed the original plan excellently, attracted a very talented team and has been able to develop new opportunities, exceeding our expectations and significantly increasing the possible upside for investors. We are pleased to renew our commitment to Evergreen by participating in this highly successful investment round."

LIFTT, which joins Evergreen Theragnostics' group of investors with this funding round, has also decided to support the company in recognition of its great success and the high value of its research in a rapidly expanding sector.

Stefano Buono, President of LIFTT and founder and former CEO of Advanced Accelerator Applications (AAA), said: 'The field of radioligand therapy is advancing rapidly. Our investment in Evergreen Theragnostics deepens our commitment to this exciting sector with a company well positioned for success“.

Evergreen has created a lean and experienced team of scientific, medical, commercial and operational leaders and researchers. In the coming months, Evergreen will continue to plan the launch of the Octevy™ diagnostic agent, which is subject to FDA approval. Evergreen Discovery also intends to initiate registration to conduct therapeutic and diagnostic clinical trials for Lutetium-177 (177Lu) EVG-321 and Gallium-68 (68Ga) EVG-321, a novel pair of radiopharmaceutical therapy that, if successful, could offer new hope to lung cancer patients.

(Source: Evergreen Theragnostics, LIFTT and Club degli Investitori press releases)