Full-Life Technologies’ $150M Financing Signals Push Into Clinical Radiotherapy and Isotope Manufacturing

Financing Breakdown

The May 2026 financing package combines equity and debt funding:

• Approximately $110 million in Series D equity
• Approximately $40 million in debt financing

The round was led by Vivo Capital and included participation from SK Biopharmaceuticals, Chengwei Capital, HSG, Junson Capital, Yunion, Plaisance, Sky9 Capital, and TSG Capital, along with other existing shareholders.

This funding structure gives Full-Life capital to expand both its drug pipeline and the specialized infrastructure needed to manufacture radiopharmaceuticals. Radiotherapeutics often require tightly integrated supply chains because radioactive isotopes have short half-lives and strict handling requirements.

Advancing the Actinium‑225 Clinical Pipeline

A core objective of the financing is accelerating Full-Life’s actinium‑225–based targeted radiotherapy programs.

Two leading candidates include:

• [225Ac]-FL‑020 – being developed for prostate cancer
• [225Ac]-FL‑261 – designed for a broader range of solid tumors

These drugs use the radioactive isotope actinium‑225 (Ac‑225) to deliver highly localized radiation directly to cancer cells while limiting damage to surrounding tissue. The company’s discovery platform, UniRDC, is used to develop these radionuclide drug conjugates.

The new capital is expected to support ongoing and upcoming clinical studies, with the company aiming to have multiple radiopharmaceutical programs in clinical development by 2026.

Building Manufacturing Capacity in Belgium

Another major use of the funding is the expansion of Full-Life’s radiopharmaceutical manufacturing infrastructure in Europe.

The company has been developing a GMP‑grade radiopharmaceutical facility in Gembloux, Belgium, which began construction in 2023. The site is planned as a roughly 4,000‑square‑meter production hub designed to manufacture radiopharmaceutical therapies and related components.

Belgium’s Federal Agency for Nuclear Control has authorized the construction and operation of the facility, enabling it to produce therapeutic radioisotopes used in cancer treatment.

For Full-Life, controlling manufacturing capacity is strategically important because actinium‑225 is a scarce isotope. Reliable access to the material is often a bottleneck for companies developing alpha‑emitting radiotherapies. To support supply, Full-Life has also partnered with isotope producers such as Eckert & Ziegler for actinium‑225 supply agreements.

Why Isotope Supply Matters in Radiopharmaceuticals

Radiotherapeutics differ from conventional drugs because the radioactive payload must be produced, transported, and administered within strict timeframes. This makes manufacturing capability as important as drug discovery.

By investing in both clinical programs and isotope production capacity, Full-Life is attempting to reduce a common risk in the sector: promising therapies being slowed by limited isotope availability.

Strategic Implications

The $150 million financing signals a dual-track strategy:

• Expand the clinical pipeline of actinium‑225 targeted therapies.
• Build internal manufacturing and isotope supply infrastructure to support those therapies.

This approach reflects a broader trend in the radiopharmaceutical industry, where companies increasingly integrate drug development, isotope supply, and GMP manufacturing to ensure that promising targeted radiation therapies can move from research to commercial production.

If successful, the investment could position Full-Life Technologies as a vertically integrated player in the emerging market for alpha‑emitting radiotherapies, an area attracting growing interest for treating difficult solid tumors.