BEVERLY HILLS, Calif.– Craig Gordon, MD, Chief Executive Officer of GordonMD® Global Investments LP, announced today that his firm has jointly invested in a private placement financing for Radionetics Oncology. Radionetics Oncology, a clinical stage pharmaceutical company spun out of Crinetics (Nasdaq: CRNX) in 2021, focuses on the discovery and development of novel radiotherapeutics for the treatment of a wide range of oncology indications. GordonMD® joins Frazier Healthcare, 5AM Ventures, and Crinetics Pharmaceuticals as investors in Radionetics.
According to commercially available market research reports, the market for radiopharmaceuticals is expected to rise to $12.6 billion by 2027. Radionetics Oncology’s platform technology uses small molecule targeting to deliver radioisotopes to a broad range of cancers by binding selectively to receptors that are overexpressed on tumors. This small molecule technology attempts to address the significant challenges currently facing peptide and protein targeted radiotherapeutics, particularly in the realm of optimizing drug-like characteristics and manufacturing. Radionetics Oncology is advancing a pipeline of novel small molecule radioligands targeting G-protein coupled receptors for the treatment of a broad range of cancers, including adrenocortical carcinoma, breast cancer, and lung cancer.
“I believe Radionetics Oncology presents a unique investment opportunity. The company leverages novel targets and the power of radiopharmaceuticals for the treatment of cancer,” said Dr. Gordon, who is also a Board of Directors Observer for Radionetics. “Radionetics just launched an exciting clinical program for adrenocortical carcinoma, which has a high unmet need with no new therapeutics approved since 1970.”
