SHREVEPORT, La. — Starget Pharma Inc. has closed an $18 million Series A financing round and entered into a strategic collaboration with the Center for Molecular Imaging and Therapy to advance development of next-generation radioligand therapies for cancer.
The clinical-stage radiopharmaceutical company said the financing will support advancement of its pipeline toward clinical development and expand translational and manufacturing capabilities in the United States. The round included participation from Louisiana Economic Development’s Louisiana Growth Fund, Cancer Focus Fund, CMIT’s parent entity BRF and Ilex Medical Ltd, which trades on the Tel Aviv Stock Exchange under the symbol ILX.
Proceeds will fund development of Starget’s lead first-in-class SSTR3-targeted theranostic pair for sarcoma, neuroendocrine tumors and malignant melanoma. The company also plans to scale its in silico, artificial intelligence-driven discovery platform and establish additional U.S.-based translational infrastructure.
“This Series A financing marks a pivotal milestone for Starget,” said Sigal Kalmanson Cusnir, CEO of Starget Pharma. “It enables us to scale our in silico, AI-driven discovery platform, accelerate drug development, and establish critical U.S.-based translational infrastructure. Our collaboration with CMIT strengthens our ability to rapidly translate high-quality radioligand candidates, discovered in our Israeli research center, into the clinic, while delivering meaningful scientific and economic impact for Louisiana.”
Starget’s proprietary platform uses computational modeling and data-driven prediction to identify and prioritize radioligand therapy candidates. The collaboration with CMIT is designed to provide downstream capabilities, including molecular imaging, radiochemistry, preclinical and clinical research, and radiopharmaceutical manufacturing and distribution.
“Starget is the only RLT company with an AI-powered peptide discovery platform that advances programs such as its first-in-class SSTR3 theranostic pair to meet the rapidly growing demand for next-generation RLTs,” said Ross Barrett, managing partner of Cancer Focus Fund.
“By pairing Starget’s in silico discovery capabilities with CMIT’s translational and manufacturing expertise, we create a highly efficient end-to-end development pathway for radiopharmaceuticals,” said Stephen Lokitz, executive director of CMIT.
The partnership aligns with the state’s broader economic development strategy through Louisiana Innovation, or LA.IO, a division of Louisiana Economic Development focused on scaling high-growth, technology-enabled companies. LED recently launched the Louisiana Growth Fund as a public-private investment vehicle to support innovative companies building long-term economic value in the state.
“This investment reflects Louisiana’s commitment to backing life sciences companies that pair advanced technology with real-world clinical impact,” said Josh Fleig, chief innovation officer at Louisiana Economic Development. “Starget brings together internationally developed science with a clear, U.S.-based strategy to accelerate drug development through in silico innovation. That combination of global innovation and domestic execution is exactly the kind of company Louisiana is primed to help scale.”
John F. George Jr., president and CEO of BRF, said the collaboration strengthens the region’s role in radiopharmaceutical innovation and supports economic development in North Louisiana.