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Targetedcancer treatments are specially-formulated drugs or chemicals thatspecifically block the development and progression of various formsof cancer by interfering directly with specific molecules(“targets”), which are involved in cancer's growth,development, and metastasis. These drugs have been shown to be veryeffective in the treatment and prevention of cancer. 

Expansionon manufacturing capabilities of small molecules is expected to aidin growth of targetedcancer therapies market.In August 2020, Ajinomoto Bio-Pharma Services expanded small moleculemanufacturing capabilities with the addition of a new productionfacility in Visakhapatnam, India. Many companies are also receivingfunding for R&D in small molecule drugs for the treatment ofcancer. In October 2020, Scorpion Therapeutics, Inc., anext-generation precision oncology company, raised US$ 108 million inSeries A to advance Precision Oncology 2.0., which focuses on smallmolecule drugs for the treatment of cancer. Similarly,in October2020, Cedilla Therapeutics, a targeted cancer therapies marketplayer, raised US$ 57.6 million in Series B round for earlydevelopment of the biotech’s small molecule programs, includingpreclinical work on its first two product candidates.

Peptidereceptor radionuclide therapy plays a major role in targeted cancertherapies market. It is a molecular therapy (also called radioisotopetherapy) used to treat a specific type of cancer calledneuroendocrine tumors or NETs1. In January 2021, Soricimed BiopharmaInc., a clinical stage company, and Orano Med, a nuclear biotechcompany based in the U.S., entered into an agreement focused on thedevelopment of a novel Peptide Receptor Radionuclide Therapy to treatsolid tumor cancers.

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