The Qatar Investment Authority (QIA) has emerged as a key investor in a $132 million Series B funding round for Artbio, a clinical-stage radiopharmaceutical biotech company.

This marks the Qatari sovereign wealth fund’s first investment in the US-headquartered firm, which is pioneering a new class of alpha radioligand therapies (ARTs) aimed at treating a range of cancers.

Artbio said the Series B round was led by Sofinnova Investments and B Capital, along with a life sciences investment fund that has invested previously. Further support came from existing investors F-Prime, Omega Funds, and Third Rock Ventures, and new investor Alexandria Venture Investments.

The company said the proceeds will be used to advance its development of ARTs.

QIA, which has $524 billion in assets under management, has been steadily investing in biotech firms in the US. In 2023, QIA led a $250 million funding round by the Nasdaq-listed BridgeBio Pharma, which focuses on genetic diseases and cancers.

Source: Zawya