Copper Strikes Again: DTCF Doubles Down on Nuclidium’s Radiotheranostics Vision

There are investments you make because the science is promising. And then there are investments you return to because the data is moving in the right direction and the team keeps delivering. Our follow-on into Nuclidium’s Series B extension is firmly in the second category.

Nuclidium is building something rare: a platform that can both find cancer and treat it, using the same copper-based chemistry, the same targeting mechanism, and a direct path from scan to therapy. No switching compounds. No rebuilding hospital workflows. Just a cleaner, more precise way to fight some of the hardest tumors in oncology, including metastatic prostate and breast cancer.

We first backed them in July 2025. Less than a year later, we are back, and so is most of the original syndicate.

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The Data Made the Decision Easy

Today, Nuclidium announces the closing of an oversubscribed CHF 26.4 million (EUR 28.4 million) Series B extension, bringing the total Series B to CHF 105 million (approximately EUR 115 million). The round was led by Kurma Growth Opportunities Fund, Angelini Ventures, EIB co-investment facility Aurea, Wellington Partners, and Neva SGR (Intesa Sanpaolo Group), with participation from DTCF, Bayern Kapital, Vives Partners, NRW.Bank, and additional existing investors.

The fact that this round was oversubscribed and led by existing investors tells you something. The clinical results back it up. Lead programs NU101 (metastatic castration-resistant prostate cancer) and NU201 (metastatic breast cancer) have shown compelling efficacy and safety in Phase 1/2 diagnostics trials. Later this year, Nuclidium moves into Phase 1/2a therapeutic studies for both, the step that takes the platform from we can see the tumor to we can treat it.

„Emerging data from our Phase 1/2 diagnostics studies continue to generate strong momentum,“ said Leila Jaafar, PhD, CEO and Co-Founder of Nuclidium. „We will build on our programs‘ best-in-class potential by initiating Phase 1/2a therapeutic studies for NU-101 and NU-201 later this year, demonstrating our direct conversion strategy from diagnosis to treatment. (…)“

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More Than a Clinical Bet

Follow-on decisions are the most honest signal a venture investor can send. You have more information than when you first invested. You know where the risks are. And you choose to go deeper anyway.

For us, the conviction goes beyond the trial data. Radiopharmaceuticals have a well-known structural bottleneck: isotopes decay fast, production is complex, and distribution is hard. Companies that solve the manufacturing puzzle alongside the clinical one are the ones that actually reach patients at scale. Nuclidium has been deliberate about this from day one, and this round continues to fund that buildout.

„We have been with Nuclidium for a year now, and the team has consistently delivered on what they set out to do,“ said Dr. Christopher Jahn, Investment Associate at DTCF. „The data is encouraging, and the platform has room to grow well beyond the current pipeline. This follow-on was a clear decision.“ 

Europe has the scientific talent and clinical infrastructure to lead in this space. What it has historically lacked is patient growth capital for companies with long development cycles. That is precisely the gap DTCF was designed to help close.

Phase 1/2a therapeutic readouts are expected to initiate later this year. Watch this space

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More information for Media

Original Press Release English (PDF)

For media requests please contact:
Nuclidium: Stephanie May, nuclidium@trophic.eu
DeepTech & Climate Fonds: Stephanie Stein, s.stein@dtcf.de

About NUCLIDIUM
NUCLIDIUM AG is a clinical-stage biotechnology company pioneering the development of next-generation copper-based radiopharmaceuticals for the diagnosis and treatment of cancer. Leveraging copper isotopes – Copper-61 for diagnostics and Copper-67 for therapeutics – NUCLIDIUM is creating a differentiated platform with the potential to overcome existing limitations in radiotheranostics. The company’s operations in Switzerland and Germany combine innovative chemistry, deep clinical expertise, and strategic manufacturing capabilities to deliver scalable, accessible, and clinically superior theranostic solutions to patients worldwide. NUCLIDIUM is committed to expanding the reach and efficacy of radiotheranostics, including addressing critical unmet medical needs in oncology and women’s health.

About DeepTech & Climate Fonds
The DeepTech & Climate Fonds (DTCF) invests up to €50 million in high-growth deep-tech and climate-tech companies in Germany and Europe. As an anchor investor and partner of long-term-oriented European investors, DTCF supports companies with extended development cycles and substantial financial needs in implementing sustainable growth strategies and actively contributes to expanding the technology ecosystem. The fund acts as a bridge between investors, SMEs, and innovative high-tech startups in the fields of climate, computing, industry, and life sciences. Funded by resources from the German Future Fund and the ERP Special Fund, DTCF plans to invest €1 billion over the coming years to strengthen the European technology ecosystem. More information