Professor Paul Donnelly and the highly successful public listing of the company he co-founded.

Congratulations to Professor Paul Donnelly on the highly successful public listing of the company he co-founded, Clarity Radiopharmaceuticals


Dear Bio21 Community Members,


It is a great pleasure for me to congratulate Bio21’s Professor Paul Donnelly on the recent success of the company he co-founded, Clarity Radiopharmaceuticals, which has had an initial public offering (IPO) and admission to the Australian Securities Exchange (ASX). The company raised $92 million at $1.40 per share, the largest pure biotech IPO in the history of the ASX.


Clarity Radiopharmaceuticals has continued to work closely with Paul to translate three new products to clinical trials. All the compounds were initially developed in Bio21. At the heart of the technology is a stable ‘cage’ or chelator, which prevents the leakage of copper radioisotopes into the body. The cage is then linked to different targeting molecules, which find and bind to specific receptors on cancer cells. 


One of the compounds, SARTATE, is currently in a Phase 1-2a diagnostic and therapy trial in paediatric cancer patients at the world leading Memorial Sloan Kettering Cancer Centre in the US. Another agent, SAR-bisPSMA, is in a Phase 1-2a theranostic trial for diagnosis and treatment of prostate cancer and Sar-bombesin is in a clinical trial to assist in the treatment of breast cancer.


“I am delighted that this fundamental discovery-based chemical research from our group has been translated to the clinic to provide potential benefits to cancer patients. The collaboration with Clarity is very scientifically rewarding and provides University researchers with valuable insight into the commercial realities of research translation,” said Paul. 


Clarity pips the $50 million raised by imaging and diagnostics peer Telix Pharmaceuticals, another Australian company that Paul works closely with, when it listed in November 2017. 


Facilitating research translation is a very important role of Bio21 so we are very proud of Paul’s achievements.



Michael Parker

Director, Bio21 Institute