NovAccel raises US$9.23M to build accelerators for next-gen cancer therapy
What's the deal? NovAccel, a Japanese deep-tech startup developing compact superconducting accelerators for medical radioisotope production, has closed a US$9.23M (roughly $8M) post-seed round. The raise brings its total funding to about US$15.4M. Existing backer UTEC led, joined by new investors Fast Track Initiative (FTI), DCI Venture Growth Fund, Atox, and Yoshida. FTI's Hiroko Kimura joins the board as an outside director.
The company, founded in June 2024 and based in Ibaraki Prefecture, is building a purpose-built accelerator called RiSA — short for Radio-isotope production Superconducting Accelerator — designed to produce actinium-225 (Ac-225), a critical ingredient for targeted alpha therapy (TAT), a promising next-generation cancer treatment.
Why now? Global supply of Ac-225 is severely constrained, limiting both research and clinical use of TAT. NovAccel joined the International Atomic Energy Agency's Global Radium Initiative in September 2025 — the first Japanese private company to do so — and is actively negotiating with governments to secure radium-226, the raw material needed to produce Ac-225.
The startup recently demonstrated high-purity Ac-225 extraction and plans to begin providing samples in Q4 2026. Its accelerator manufacturing facility is on track for completion in October 2026. The fresh capital will fund equipment, automated extraction systems, and radiation-shielded gloveboxes needed to scale production toward GMP compliance.
What could go wrong? Handling radioactive materials demands exacting safety standards and regulatory approvals — any delay could push back production timelines. Securing a reliable international supply of radium-226 depends on government cooperation across multiple countries, adding geopolitical risk. And NovAccel's accelerator technology, while promising, is still unproven at commercial scale.
Strategic investors Atox and Yoshida bring deep expertise in radiation management and shielding technology, which should help mitigate some operational risks.
The signal: The round reflects growing investor appetite for radiopharmaceutical infrastructure — the picks-and-shovels layer beneath a wave of targeted cancer therapies entering clinical trials worldwide. As demand for Ac-225 outstrips supply, startups that can credibly solve the production bottleneck stand to capture outsized value.
UTEC's Tomotaka Goji noted that NovAccel has moved faster than expected across supply chain, extraction, and facility build-out — a sign that Japan's accelerator heritage may translate into a competitive edge in this emerging sector.
Read more: prtimes.jp
