Ratio Therapeutics Completes $70 Million Series C Financing to Advance Clinical Development of Ac-225 Targeted Radiopharmaceuticals

Ratio Therapeutics, Inc., a U.S. clinical-stage pharmaceutical company, recently announced the completion of a $70 million Series C financing round. The company stated that following this round, its cumulative total financing has exceeded $240 million.

According to the announcement, this round saw participation from existing investors Duquesne Family Office and Bristol Myers Squibb, while also bringing in new investors such as Catalio Capital Management, Eli Lilly and Company, and Wasatch Group.

Ratio Therapeutics stated that the proceeds will be used to advance the clinical development of its targeted radiotherapeutic product pipeline and expand manufacturing infrastructure. The company plans to continue advancing the ATLAS study, which is evaluating the efficacy of its lead radiotherapeutic agent [Ac-225]RTX-2358 in advanced sarcoma; in parallel, the company will also advance next-generation radiotherapeutic drug candidates into clinical trials.

[Ac-225]RTX-2358 is a therapeutic agent targeting fibroblast activation protein (FAP) and is currently in the ATLAS Phase I/II clinical trial. In addition to this program, Ratio Therapeutics' pipeline also includes a next-generation GRPR program, other monospecific and bispecific radioligand therapies, and imaging assets. The company stated that these programs are being advanced leveraging its Trillium pharmacokinetic modulation technology and Macropa chelator platform.

Dr. Jack Hoppin, Chief Executive Officer of Ratio Therapeutics, stated that this financing round reflects the confidence of investors and strategic partners in the company's existing progress and future opportunities. As the ATLAS trial advances and preparations are made to submit a fifth Investigational New Drug (IND) application, the funds will be used to support the development and future supply of radiopharmaceuticals optimized for targeting and pharmacokinetics.

The company also stated that its next steps will include continuing to expand its R&D pipeline, developing new high-value oncology targets, and extending the application of its radiopharmaceutical platform from current indications to other tumor types with significant unmet needs and market potential. At the same time, Ratio Therapeutics plans to strengthen its proprietary radiopharmaceutical technologies and scale up manufacturing capacity to meet pipeline expansion and future commercialization needs.

In terms of manufacturing, Ratio Therapeutics employs a hybrid production model, supported by its vertically integrated manufacturing site in Utah, United States, external partners, and a diversified isotope supply system to support its radiopharmaceutical product pipeline. The company also noted that its platform has been validated through external collaboration programs, including the SSTR2 radioligand therapy program advanced in partnership with Novartis.