Stephen Lokitz and the Starget team on a tour of the Center for Molecular Imaging and Therapy’s facility.
Investment supports U.S. expansion, accelerates radiopharmaceutical development, and strengthens Louisiana’s growing life sciences ecosystem
SHREVEPORT, La. — Starget Pharma Inc., a U.S.-based clinical-stage radiopharmaceutical company, has closed an $18 million Series A financing round and announced a strategic collaboration with the Center for Molecular Imaging and Therapy (CMIT) to advance next-generation peptide radioligand therapies targeting cancer.
The investment will accelerate development of Starget Pharma’s artificial intelligence–enabled drug discovery platform while expanding its operational and translational footprint in the United States. The initiative also reinforces Louisiana’s position as an emerging hub for life sciences innovation and advanced medical research.
The Series A round included participation from Louisiana Economic Development’s Louisiana Growth Fund, Cancer Focus Fund, CMIT’s parent organization BRF, Ilex Medical Ltd., and additional institutional investors.
Proceeds will support advancement of Starget’s clinical pipeline, including its lead first-in-class SSTR3-targeted theranostic program designed to treat sarcoma, neuroendocrine tumors (NETs), and malignant melanoma. Funding will also expand U.S.-based translational research and manufacturing capabilities.
“This Series A financing marks a pivotal milestone for Starget,” said Sigal Kalmanson Cusnir, CEO of Starget Pharma. “It enables us to scale our AI-driven discovery platform, accelerate drug development, and establish critical U.S.-based infrastructure that translates innovative science into clinical impact while contributing to Louisiana’s growing innovation economy.”
Accelerating Radioligand Development Through AI Innovation
Starget Pharma’s proprietary in silico discovery platform uses computational modeling and data-driven prediction to rapidly identify and prioritize radioligand therapy (RLT) candidates, improving development speed and efficiency.
According to Ross Barrett, Managing Partner of Cancer Focus Fund, the company’s technology positions it uniquely within the rapidly expanding radiopharmaceutical sector.
“Starget is the only RLT company combining an AI-powered peptide discovery platform with programs such as its first-in-class SSTR3 theranostic pair designed to meet growing global demand for next-generation radioligand therapies,” Barrett said.
Through the collaboration, CMIT will provide critical downstream capabilities needed to advance AI-selected candidates through preclinical validation and early-stage clinical development. The partnership leverages CMIT’s integrated infrastructure, including molecular imaging, radiochemistry, clinical research, and radiopharmaceutical manufacturing and distribution.
“By pairing Starget’s discovery capabilities with CMIT’s translational expertise, we are creating an efficient end-to-end pathway for radiopharmaceutical development,” said Stephen Lokitz, Ph.D., Executive Director of CMIT.
Supporting Louisiana’s Innovation and Economic Development Strategy
The collaboration aligns with Louisiana Economic Development’s Louisiana Innovation (LA.IO) initiative, which focuses on attracting and scaling high-growth, technology-driven companies across advanced industry sectors.
Through LA.IO, the state recently launched the Louisiana Growth Fund, a public-private investment vehicle designed to support innovative companies generating long-term economic value.
“This investment reflects Louisiana’s commitment to supporting life sciences companies that combine advanced technology with real-world clinical impact,” said Josh Fleig, Chief Innovation Officer at Louisiana Economic Development. “Starget represents the type of globally connected, innovation-driven company Louisiana is well positioned to help scale.”
John F. George Jr., M.D., President and CEO of BRF, added that the collaboration strengthens both cancer research capabilities and regional economic growth.
“This partnership reinforces North Louisiana’s growing role in advanced radiopharmaceutical innovation while supporting long-term economic development opportunities for the region,” George said.
About Starget Pharma Inc.
Starget Pharma is a clinical-stage radiopharmaceutical company developing next-generation peptide radioligand therapies for cancer. Operating in both the United States and Israel, the company integrates AI-driven peptide design, theranostic imaging, and clinical insight to create a scalable pipeline of precision oncology therapies. Learn more at www.stargetpharma.com.
About CMIT
The Center for Molecular Imaging and Therapy (CMIT), a wholly owned subsidiary of BRF, provides integrated research and development services spanning molecular imaging, radiopharmaceutical discovery, manufacturing, and clinical translation.
About BRF
BRF, headquartered in Shreveport, Louisiana, is an innovation and economic development organization focused on attracting and growing high-impact businesses while strengthening the regional science and technology workforce.
About Cancer Focus Fund
Cancer Focus Fund LP is an investment fund established in collaboration with The University of Texas MD Anderson Cancer Center to support promising cancer therapies nearing or entering clinical development.
About Louisiana Innovation (LA.IO)
Louisiana Innovation (LA.IO), a division of Louisiana Economic Development, works to modernize the state’s economy by supporting technology-enabled startups through capital access, partnerships, and innovation-driven growth initiatives.
