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Algeta Awarded Grant to Develop Targeted Thorium Conjugates

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Algeta ASA has announced that it has been awarded a NOK 10.5 million (USD 1.9 million) grant from the Research Council of Norway to develop Targeted Thorium Conjugates (TTCs), novel tumor-targeted alpha-pharmaceuticals based on thorium-227.

Thomas Ramdahl, Executive Vice President and Chief Technology Officer, commented: "In our early preclinical feasibility studies, thorium-227 has shown great promise as an effective therapeutic payload. We will use this grant to build on this research to support the development of Targeted Thorium Conjugates (TTCs), which may provide us with a new way to generate improved anticancer agents.”

The grant has been awarded through the BIA program that funds research-based innovation projects independent of the industry from which they come.

This broad program supports high-quality R&D projects which could deliver good business and socio-economic benefits. The grant is subject to final negotiations with the Council.