Phase 1 study advances A9-3408, an Actinium-225-based radiotherapeutic, building on the progress of the company’s imaging agent, A9-3202, which entered the clinic last year

Robert Meehan, M.D., appointed as Chief Medical Officer, bringing extensive clinical development expertise to advance the Company’s radiotherapeutic pipeline

BOSTON, Mass. and VANCOUVER, British Columbia, December 4, 2025 – Alpha-9 Oncology, a clinical-stage radiotherapeutic company developing targeted cancer therapies, today announced the initiation of dosing in a Phase 1 study evaluating A9-3408, a novel Actinium-225-based radiotherapeutic targeting melanocortin 1 receptor (MC1R) for the treatment of patients with melanoma. The Phase 1 study is a multi-center, open-label trial designed to evaluate the safety, dosimetry, and dose escalation of A9-3408 in patients with MC1R-positive melanoma, who have progressed on standard-of-care therapies.

This milestone advances Alpha-9’s melanoma program, which first entered the clinic last year with A9-3202, a Gallium-68-based imaging agent used to assess MC1R expression and identify patients for the A9-3408 therapeutic study.

“Dosing the first patient with our MC1R radiotherapeutic marks an important milestone for the company and validates our internal R&D platform,” said Paul Blanchfield, Chief Executive Officer, Alpha-9 Oncology. “We are excited to have initiated trials for our first therapeutic program and look forward to advancing additional best-in-class assets into the clinic as we aim to bring novel, life-improving treatments to people living with cancer.”

“MC1R is an ideal target due to its high expression in melanoma and limited presence in healthy tissue,” said Robert Meehan, M.D., Chief Medical Officer at Alpha-9. “Despite advances in immunotherapy, significant unmet needs remain for patients who progress on current standard of care. In our A9-3202 imaging study, 92% of patients had strong MC1R expression after progression on immunotherapy, demonstrating the potential for this program to provide a new modality for patients.”

Dr. Meehan recently joined Alpha-9 as Chief Medical Officer, bringing progressive leadership experience in biopharma and biotechnology, specializing in the creation of complex, novel development programs. Dr. Meehan is a board-certified physician trained in hematology and oncology, with expertise in all phases of drug development across multiple modalities. Prior to Alpha-9, Dr. Meehan was the Senior Vice President, Clinical Development at Dragonfly Therapeutics, held multiple senior clinical leadership roles at Moderna, and was a staff clinician in the Developmental Therapeutics Clinic at the National Cancer Institute.

Alpha-9’s platform is built on a systematic approach to molecule design, optimizing binders, linkers, and chelators to create radiotherapeutics with superior uptake and retention in tumors while minimizing off-target effects. The advancement of the MC1R program highlights the company’s capability to develop best-in-class molecules and deliver on the promise of precision oncology.

About Alpha-9 Oncology

Alpha-9 Oncology is a clinical-stage radiotherapeutic company developing a pipeline of novel molecules with the potential to meaningfully improve the treatment of people living with cancer. Applying proprietary technologies, deep foundational expertise, and the ability to work with multiple isotopes, Alpha-9 engineers and optimizes novel radiotherapeutics to selectively deliver tumor-killing radiation while minimizing off-target effects.

For more information, please visit www.a9oncology.com.

Alpha-9 Contact

Corporate Communications

Stephen Mitchener

Phone: +1 617 865 1004

Email: smitchener@a9oncology.com

• Series C led by Lightspeed Venture Partners and Ascenta Capital with participation from top-tier new investor syndicate and existing investors
• Funding will advance distinctive pipeline of targeted radiopharmaceuticals through clinical studies across multiple tumors with high unmet patient need
• Growing portfolio will be supported by continued investment in discovery capabilities and expansion of manufacturing and isotope supply partnerships

BOSTON, Mass. and VANCOUVER, British Columbia, October 23, 2024 – Alpha-9 Oncology Inc. (Alpha-9 or the Company), a clinical stage company developing radiopharmaceuticals to meaningfully improve the treatment of people living with cancer, today announced an oversubscribed $175 million Series C financing to support the progression of its pipeline. The financing was led by Lightspeed Venture Partners and Ascenta Capital. A selected syndicate of new investors – General Catalyst, a16z Bio + Health, RA Capital Management, Janus Henderson Investors, Delos Capital, Digitalis Ventures, Lumira Ventures and a healthcare fund managed by abrdn Inc. – joined the round, in addition to existing investors Frazier Life Sciences, Longitude Capital, Nextech Invest, BVF Partners LP, and Samsara BioCapital. Shelley Chu, head of Lightspeed Venture Partners’ healthcare team and Evan Rachlin, co-founder and managing partner of Ascenta Capital will join the Company’s Board of Directors.

Alpha-9 has built a diversified portfolio of clinical and discovery assets across both validated and novel targets. The Series C will fund human studies for the clinical stage assets and advancement of discovery stage assets to clinic-ready development candidates. Furthermore, the Series C will fund expanded R&D capabilities and continued investment in CMC and supply chain.

“Over the last few years, Alpha-9 has built a leading radiopharmaceutical company with a deep pipeline and robust infrastructure,” said Alpha-9 CEO, David Hirsch, MD, PhD. “The Series C is an exciting, significant milestone for us and will greatly accelerate our growth. We are thrilled to have the backing of a top-tier investor syndicate who share our belief in the potential of radiopharmaceuticals.”

“Alpha-9 is developing a differentiated portfolio that includes multiple radiopharmaceuticals with first in-class and best-in-class potential,” said Shelley Chu, head of Lightspeed Venture Partners’ healthcare team. “We are impressed with the team’s progress to date and are proud to support the advancement of these programs.”

Alpha-9’s approach to designing bespoke molecules is systematic and data-driven. The Company has a differentiated toolbox of binders, linkers, chelators and radioisotopes – elements that each play an integral role in radiopharmaceutical development. Alpha-9 designs each component of the radiopharmaceutical for optimal selectivity, stability and payload delivery. The Alpha-9 approach is rigorous, fast and capital efficient, generating best-in-class compounds for rapid clinical development.

“We have been following this space for a long time. What differentiated Alpha-9 was its effective approach to molecule design as well as its thoughtful strategy on infrastructure expansion,” said Evan Rachlin, MD, managing partner of Ascenta Capital. “We are pleased to support the Company’s continued progress as it strives to deliver on the promise of radiopharmaceuticals.”

To support its endeavors, Alpha-9 has purpose-built research facilities in Vancouver, which were completed last year and have been operating at scale. These facilities help to accelerate drug development by streamlining discovery processes. Alpha-9 has also partnered with isotope suppliers and CDMOs to support its ongoing clinical trials. Alpha-9’s commitment to continue building robust infrastructure and world class capabilities underscores the company’s mission to provide effective treatments for patients worldwide.

About Alpha-9 Oncology Inc.

Alpha-9 Oncology Inc. is a clinical stage radiopharmaceutical company developing differentiated and highly targeted radiopharmaceuticals with the potential to meaningfully improve the treatment of people living with cancer. Applying proprietary technologies and deep foundational expertise, Alpha-9 is on the forefront of engineering bespoke radiopharmaceuticals that are optimized to selectively deliver radiation to tumor sites while minimizing off-target effects. Alpha-9 is advancing a robust pipeline of novel radiopharmaceuticals with a systematic approach to molecule design that offers broad potential for expansion into several validated oncology targets. For more information, please visit www.a9oncology.com.

About Lightspeed Venture Partners

Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Healthcare, Consumer and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including biotechnology companies such as Abata, Ancora, Diagonal, Enlaza, Forty Seven, Personalis, Pheon, Teneobio, Triana, Scorpion, Seismic, Ultima Genomics, Xaira, ZagBio, and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. For more information, please visit www.lsvp.com.

About Ascenta Capital

Ascenta Capital is a biotech venture fund, co-founded in 2023 by Dr. Evan Rachlin and Dr. Lorence Kim. The fund is focused on a concentrated portfolio of investments in multi-product companies. For more information about Ascenta Capital, visit www.ascentacap.com.

Notice Regarding Forward-Looking Statements:

This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). The words “may”, “will”, “potential”, “believes” and “if” are intended to identify forward-looking statements, although not all forward-looking statements contain such terms. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances, or events to differ materially from those projected in the forward-looking statements. These risks include but are not limited to: those associated with the success of research and development programs, the ability to raise additional funding, and the need to obtain regulatory approval. Forward-looking statements are made as of the date hereof and Alpha-9 disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Alpha-9 Contact
Corporate Communications
Stephen Mitchener
Phone: +1 617 865 1004
Email: smitchener@a9oncology.com