London’s Nuclide Therapeutics raises €5.7 million in largest pre-money valuation of any King’s College London spin-out

Nuclide Therapeutics, a British BioTech company and King’s College London spin-out focused on developing targeted radiopharmaceuticals for therapy-resistant cancers, has raised €5.7 million in funding.

The round saw participation from Marathon Beteiligungs AG, in what is reportedly the largest pre-money valuation of any King’s College London spin-out to date.

Muhammet Tanc PhD, Co-founder, and CEO of Nuclide Therapeutics, commented: “The launch of Nuclide Therapeutics marks a bold step forward in our mission to give therapy-resistant cancer patients an effective treatment option. Closing our funding round with the support of Marathon Beteiligungs AG gives us not just capital, but a true partner who shares our vision. Together, we are building a company focused on scientific excellence, translational impact, and improving the lives of patients who need it most.”

Founded in 2024, Nuclide Therapeutics was born out of research at the Witney Lab in the School of Biomedical Engineering & Imaging Sciences at King’s College London, where the founding team set out to tackle one of the biggest challenges in oncology: how to detect and treat therapy-resistant cancers.

Initially supported through >€5.1 million in grant funding from the Wellcome Trust, Nuclide Therapeutics is advancing a new generation of radiotheranostics designed to transform cancer care for patients who have exhausted standard treatment options.

Dr Andreas Kluge, CEO of Marathon Beteiligungs AG, said: “Having known the market for years, we always rely on convincing approaches and are delighted to offer talented teams such as those at Nuclide more opportunities to develop their ideas.”

The funding will support the continued development of Nuclide’s proprietary product family of ALDH1A1-targeted radiotheranostics, which are radioactive drugs designed to identify and eliminate cancer cells that have evaded conventional therapies.

With a pipeline already demonstrating promising preclinical data in lung and ovarian cancers, the investment will enable Nuclide to progress its lead candidates into first-in-human trials, expand into additional cancers, and accelerate the development of other assets in its discovery pipeline.

“Our integrated investment approach not only includes the provision of financial resources, but also building a close and, above all, fair partnership in the economic development of the company”, adds Matthias Untisz, CFO of Marathon Beteiligungs AG.

The investment is structured around defined R&D and regulatory milestones, providing NTx with both flexibility and strategic alignment as it moves toward Investigational New Drug (IND)-enabling studies.

Nicolas Huber, Interim Director of King’s Innovation Catalyst, said: “We are very excited by the significant funding secured by the first spin-out from Prof. Witney’s lab. This is a strong vote of confidence in King’s depth of scientific and translational expertise in radiopharmaceuticals, including theranostics.

“The team and founding investor are world-class, and we are looking forward to Nuclide progressing their lead candidates for untreatable tumours, with significant potential impact for the lives of cancer patients worldwide”.

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