Ratio Therapeutics, a US-based clinical-stage developer of radiopharmaceuticals for cancer treatment, has closed a $70m Series C financing round.
The company said existing investors Duquesne Family Office and Bristol Myers Squibb participated in the round, joined by new investors Catalio Capital Management, Eli Lilly and Company, and Wasatch Group.
The funding will be used to advance its ATLAS clinical trial, which is assessing its lead candidate [Ac-225]RTX-2358, a fibroblast activation protein (FAP)-targeted radiotherapeutic, for patients with advanced sarcomas.
Further resources will also be directed towards moving a next-generation radioligand therapy candidate into clinical studies.
Ratio Therapeutics plans to expand its discovery pipeline to additional cancer targets and apply its technology to new tumour types that are not currently being addressed.
The company will also use the investment to scale its proprietary radiopharmaceutical technology and manufacturing capabilities to meet both pipeline and anticipated commercial demand.
Ratio Therapeutics CEO Dr Jack Hoppin said: “This financing reflects the confidence our investors and strategic partners have in the progress we have made to date and the opportunities that lie ahead.
“As we march the ATLAS trial forward and prepare for our fifth IND [investigational new drug] filing, these proceeds are instrumental across the development and ultimately the supply of our targeted and PK-optimised radiopharmaceuticals.”
The company’s development portfolio includes [Ac-225]RTX-2358 in the ATLAS Phase I/II trial and next-generation programmes targeting gastrin-releasing peptide receptor (GRPR), as well as additional mono- and bispecific radioligand therapies and imaging agents.
The pipeline assets are based on Ratio’s Trillium pharmacokinetic tuning technology and Macropa chelator platform.
Ratio Therapeutics has also established external validation of its approach through partnership programmes, such as its collaboration with Novartis in somatostatin receptor type 2 (SSTR2) radioligand therapy.
On the manufacturing side, Ratio Therapeutics utilises a hybrid model, combining a vertically integrated site in Utah with outsourcing to external partners and diversified isotope supply.
This approach is designed to provide flexible clinical and potential commercial supply as the company expands its radiopharmaceutical pipeline.
