Taiwan’s Primo Biotechnology Secures NT$220M: Targets IPO by 2026

Primo Biotechnology, a Taipei-based radiopharmaceutical startup, has raised NT$220 million in its Series A funding round, bringing its total capital to over NT$500 million. While investor details were not disclosed, the company stated that the new funds will support its operational scale-up and enhance research and development efforts.

The company, which focuses on radioligand theranostics for precision cancer treatment, also announced plans to go public by 2026. The planned IPO is expected to accelerate R&D and expand Primo’s presence in international markets.

Under the leadership of CEO and Co-founder Dr. Ya-Yao Huang, Primo Biotechnology is advancing next-generation Radioligand Theranostics (RLT) to enhance precision cancer treatment. Dr. Huang shared that the company’s radiopharmaceutical facility was recently awarded PIC/S GMP and GDP certifications, reinforcing its dedication to high-quality drug manufacturing. She added that the new funding will help speed up development efforts and support the regional launch of cutting-edge diagnostic and therapeutic products.

As part of its expansion, Primo has partnered with Germany-based ABX advanced biochemical compounds GmbH to manufacture and distribute the prostate cancer diagnostic drug Radelumin ([18F]PSMA-1007) in Taiwan. Already approved in countries like France, Germany, and the Netherlands, the product was introduced for clinical use in Taiwan in June. 

Beyond prostate cancer diagnostics, Primo is advancing its clinical pipeline with two candidates, PB011 and PB012, targeting additional cancer types. These programs are designed to expand the company’s presence in oncology by addressing unmet medical needs through targeted therapies.

To support faster market access, Primo is utilizing Taiwan’s Category 2 drug registration pathway, which applies to new indications. This approach allows the company to lower development costs and reduce time-to-approval compared to the Category 1 process used for entirely new drugs.

By combining a focused regulatory strategy with international collaborations and ongoing R&D, Primo aims to strengthen its position in the global radiopharmaceutical space. The company believes these efforts will not only drive early revenue but also lay the foundation for a successful IPO in 2026.

Headquartered in Taipei, Primo Biotechnology focuses on developing and manufacturing radiopharmaceuticals that support precision cancer care. Its advanced facilities, certified under international PIC/S GMP and GDP standards, enable high-quality production of molecular imaging and targeted therapy products. By working closely with partners across Taiwan and abroad, Primo aims to accelerate the development and delivery of next-generation cancer treatments.