Pentixapharm raises €20.4M for Phase 3 diagnostic trial
Berlin-based Pentixapharm Holding AG has raised about €20.4 million to fund a pivotal Phase 3 trial of its PET diagnostic PentixaFor and advance its CXCR4-targeted theranostics pipeline.
Why it matters: The financing gives Pentixapharm the funds to test whether a noninvasive scan can help doctors choose between surgery and drug treatment for patients with primary hyperaldosteronism, also known as Conn’s syndrome, a condition that occurs when your adrenal glands make too much aldosterone.
By the numbers: The company placed all 11.02 million new shares at €1.85 each. Investors bought more than 82% through the subscription offer, with the remaining shares placed with institutional investors and principal shareholder Andreas Eckert. Pentixapharm expects net proceeds of about €19.7 million after transaction costs.
Zoom in: Most of the capital will finance the PANDA trial, a registration-enabling Phase 3 study of the PET tracer [^68Ga]Ga-PentixaFor.
- The PET/CT diagnostic is designed to identify patients with primary hyperaldosteronism who could benefit from surgical removal of an adrenal gland and distinguish them from those better treated with medication.
- The U.S. Food and Drug Administration (FDA) cleared the U.S. Phase 3 study to begin with a “Study May Proceed” decision in June. PentixaFor received Fast Track designation for diagnosing primary hyperaldosteronism in July and plans to start PANDA in the second half of 2026.
Beyond the trial: The company will also use the proceeds to expand its U.S. activities, prepare for potential commercialization and develop its CXCR4-based theranostics platform. That platform includes PentixaTher, a therapeutic radioligand being developed for hematologic cancers.
How it works: Theranostics pairs a diagnostic radiotracer with a therapeutic radioligand aimed at the same molecular target. Imaging first shows whether a patient is likely to benefit; the therapeutic compound can then deliver radiation directly to the tumor.
Backstory: Research into the chemokine receptor CXCR4 and its ligand CXCL12 began more than a decade ago at the Technical University of Munich. The use of the receptor as a target molecule for isotope-dependent imaging and therapy was then further developed at the University Hospital Würzburg, resulting in cooperation with Pentixapharm, which later laid the basis for their entry to the Frankfurt Stock Exchange.
Big picture: Radiopharmaceuticals and radioligand therapies are among oncology’s fastest-moving segments, fueled by Novartis’ multibillion-dollar investments in Pluvicto and Lutathera and a wave of acquisitions and partnerships.
Yes, but: Success is not guaranteed. Novartis recently discontinued the GRPR-targeted radioligand Lu-NeoB after Phase 1/2 data failed to justify further development, although the company said safety concerns were not responsible.
What they’re saying: Main shareholder Andreas Eckert comments to |transkript.de: “If Pentixapharm were approved, it would be an almost textbook example of translation: patented at TUM, clinically validated at the University of Würzburg, picked up by German companies and – we all know the downfall – first brought to approval in the American market. After all, the added value would remain here.”
