Dedicated to the development of the healthcare sector in Europe, the Nov Santé Actions Non Cotées Fund, managed by Eurazeo1 and launched at the initiative of France Assureurs and the Caisse des Dépôts, is announcing the finalization of its second Growth Equity investment in PanTera. As part of this €93m fundraising, Eurazeo and Kurma Partners, its Health venture subsidiary, will have a minority stake in the company’s capital alongside EQT, the operation’s lead arranger.
A Belgian company to produce one of the most promising radioisotopes to fight cancer
The result of a research partnership initiated in 2019 between IBA (Ion Beam Applications S.A.), specialist in particle acceleration technologies, and the Belgian Nuclear Research Center SCK-CEN, PanTera is a company created in 2022 whose goal is to produce Actinium-225 on a large scale. Current world production is estimated at 3Ci per year. From 2025, PanTera will be in a position to produce between 1.5 and 2Ci2 each year.
This radioisotope shows particularly promising characteristics in the fight against cancer given its ability to eliminate cancer cells more deeply whilst saving as much as possible of the healthy surrounding tissues. Numerous clinical trials are underway in the treatment of certain cancers and leukemia, notably neuroendocrine and prostate cancers.
Today, production capacity of Actinium-225 is very limited and as such covers only part of the clinical trials, sometimes leading to their temporary interruption. The Belgian production site planned by PanTera, which should be able to provide large-scale quantities by 2028, represents therefore a major focus for European medical sovereignty and access to healthcare. PanTera aims to provide enough Actinium-225 to cover 100,000 patients per year by 2029.
A co-investment with Kurma Partners, symbol of the Eurazeo group’s expertise in healthcare
The co-investment between Nov Santé Actions Non Cotées and Kurma Partners reaffirms the Eurazeo group’s leadership in the strategic healthcare sector. This joint investment in PanTera marks a new phase in the consolidation of sector expertise to support innovation and growth in healthcare companies in Europe. Together, Nov Santé Actions Non Cotées, with its solid financial and strategic anchorage, and Kurma Partners, recognized for its expertise in life sciences, aim to create powerful synergies to support the execution of PanTera’s growth plan.
A second investment in Growth Equity for the Nov Santé Actions Non Cotées Fund
Following on from Kinvent at the beginning of the year, PanTera is the second Nov Santé Actions Non Cotées investment in Growth Equity and consolidates its position as a trusted partner for companies experiencing strong growth. This new investment underlines the fund’s ability to support companies of all sizes, from those in the early stages to those which are more mature, and on diverse areas whether organic growth, sector consolidation or strategic transformation.
Arnaud Vincent, Managing Director – Healthcare at Eurazeo, said:
“This strategic investment in PanTera fits perfectly with our mission to support innovative companies that are transforming the healthcare landscape in Europe. We firmly believe in the potential of Actinium-225 to revolutionise the fight against cancer and are proud to contribute to European health sovereignty by participating in this ambitious initiative. Through this investment, we are reinforcing our commitment to building a future where patients have access to precision medicine.”
Rémi Droller, Managing Partner, and Jean-François Rivassou, Partner at Kurma Partners, added:
“This first investment alongside Eurazeo is a major milestone. It reaffirms our Group's leadership in the key field of healthcare. Together, we are joining forces to support PanTera in the development of an innovative and promising solution, Actinium-225, which could radically transform cancer treatments. This partnership is a perfect illustration of our long-term strategy to create powerful synergies within the Eurazeo group to support high-impact projects and bring cutting-edge treatments to patients around the world."
Sven Van den Berghe, President and Founder of PanTera, said:
“PanTera’s goal is to increase production of Actinium-225, a highly innovative radioisotope that could save lives. The size of this fundraise is testament to our strategy, our unique assets and our abilities. We work with highly experienced partners, whose combined expertise and network go much further than the production of Actinium-225 and encompass all areas of the revolution in radiopharmacology. Thanks to this financing, we are now on the right track to achieve our goals of offering a “better fight for life” to patients around the world who are suffering from cancer by becoming the world’s reliable producer of Actinium-225.”
********************
