Investment accelerates AI-enabled radioligand discovery and clinical development, expands U.S. operations, and advances Louisiana's life sciences innovation ecosystem
SHREVEPORT, La., Feb. 18, 2026 /PRNewswire/ -- Starget Pharma Inc, a U.S. clinical-stage radiopharmaceutical company, today announced the closing of its $18M Series A financing round and a strategic collaboration with the Center for Molecular Imaging and Therapy (CMIT) to develop next-generation peptide radioligand therapies for cancer.
The Series A round includes participation from U.S.-based investors Louisiana Economic Development's Louisiana Growth Fund (LED), Cancer Focus Fund, and CMIT's parent entity BRF, as well as Ilex Medical Ltd (TLV: ILX) and additional investors. Proceeds from the financing will support the advancement of Starget's pipeline toward clinical development, including its lead first-in-class SSTR3-targeted theranostic pair for sarcoma, neuroendocrine tumors (NETs), and malignant melanoma, and expand translational and manufacturing capabilities in the United States.
"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."
Accelerating Radioligand Development Through AI-Enabled Discovery and U.S. Translation
Starget's proprietary in silico, AI-driven platform leverages computational modeling and data-driven prediction to rapidly identify and prioritize radioligand therapies (RLT) candidates maximizing speed and efficiency.
"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.
The collaboration with CMIT will provide the downstream capabilities required to advance these AI-selected candidates through preclinical validation and into early-phase clinical development. The collaboration will leverage CMIT's integrated infrastructure, including molecular imaging, radiochemistry, preclinical and clinical research, and radiopharmaceutical manufacturing and distribution.
"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, Ph.D., Executive Director of CMIT.
Aligned with Louisiana's Innovation and Economic Development Strategy
The collaboration aligns with the strategic goals of Louisiana Economic Development and its Louisiana Innovation (LA.IO) department, which aims to attract and scale high-growth, technology-enabled companies across advanced sectors, including life sciences. Through LA.IO, LED recently launched the Louisiana Growth Fund, a public-private investment vehicle designed 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., M.D., President and CEO of BRF, added: "This collaboration is a significant step forward for both cancer research and economic development in Louisiana, reinforcing our region's role in advanced radiopharmaceutical innovation."
About Starget Pharma Inc.
Starget Pharma is a clinical-stage radiopharmaceutical company developing next-generation peptide RLT for cancer, with operations in the U.S. and Israel. Starget's platform integrates AI-driven peptide design, theranostic imaging, and rapid clinical insight, creating a repeatable engine capable of generating multiple radioligand therapy programs and capturing outsized value across this expanding therapeutic category. Starget's programs have a clear first- and best-in-class potential, with multiple clinical entries planned for 2026. Learn more at www.stargetpharma.com.
About CMIT
The Center for Molecular Imaging and Therapy (CMIT), a wholly owned subsidiary of BRF, offers a full continuum of research and development services in molecular imaging, radiopharmaceutical discovery, manufacturing, and clinical translation. CMIT's model allows for streamlined advancement of novel diagnostics and therapies from concept through imaging to clinical testing and distribution — a unique "one-stop-shop" capability in the radiopharmaceutical space.
About BRF
BRF, headquartered in Shreveport, Louisiana, is an innovation hub and economic development organization establishing North Louisiana as a preferred destination for high-growth initiatives. Diversifying the region's economy is its mission. It fulfills this mission through initiatives that start new businesses, recruit new businesses and retain current businesses in the region, and through supporting the development of a science and technology-based workforce.
About Cancer Focus Fund
The Cancer Focus Fund LP is a unique investment fund established in collaboration with The University of Texas MD Anderson Cancer Center. The fund provides investment support to advance promising cancer therapies that are close to being tested in humans or are in early clinical development, as well as the clinical trial expertise and infrastructure of MD Anderson and strategic partners Ochsner Health System Precision Cancer Therapies Program New Orleans and the LSU Feist Weiller Cancer Center Shreveport. The Fund's objective is to leverage this unique combination to provide investors with superior risk-adjusted returns. In collaboration with partner MD Anderson, the Cancer Focus Fund provides both capital and translational research expertise with the goal of accelerating the development of novel cancer therapies that result in better outcomes for patients while generating returns for investors.
About Louisiana Innovation <LA.IO>
Louisiana Innovation (LA.IO) is a division of Louisiana Economic Development dedicated to strengthening and modernizing the state's core industries through innovation. LA.IO supports high-potential, tech-enabled startups by connecting founders to capital, fostering partnerships across accelerators, universities, investors, and industry, and advancing transformative technologies such as artificial intelligence and advanced automation. Learn more at www.la.io.
For further information contact:
Brian Williams 318.716.4115
[email protected]
Ed Walsh 318.424.2676 ext. 345
[email protected]
SOURCE BRF; Starget Pharma
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