Ratio Therapeutics – a pharmaceutical company that employs a suite of innovative technologies to develop best-in-class radiopharmaceuticals for the treatment and monitoring of cancers – recently announced the closing of its $50 million Series B financing, bringing the total raised to date to over $90 million.
The latest funding round witnessed continued participation from Series A leads Schusterman and Duquesne and welcomed, among others, PagsGroup, Bristol Myers Squibb, and the Center for Technology Licensing at Cornell University.
This funding round will expand the applications of the company’s proprietary technology platforms, Trillium and Macropa, to develop novel sophisticated for-purpose radiopharmaceuticals. And the funding will drive the clinical development of the company’s fibroblast activation protein-alpha (FAP) targeted radiopharmaceutical therapeutic.
KEY QUOTES:
“This funding advances Ratio’s technology platforms and will help launch clinical trials for our FAP-targeted radiotherapeutic which aims to treat a broad array of solid-tumor cancers. We are grateful to our investors for their confidence in our technology. We have filed two INDs and completed enrollment in both radiation dosimetry studies in support of two of our corporate partnerships. Now we have the backing to move our first therapeutic candidate into clinical trials by the end of this year.”
– Dr. Jack Hoppin, Ratio’s Chairman and Chief Executive Officer
“The FAP-targeted therapeutic program has the potential to provide much needed treatment to patients with multiple types of cancer. With Ratio’s unique assets and technology, and Drs. Babich and Hoppin standing as pioneers in the radiopharmaceutical field, we believe they are very well positioned to advance novel radiopharmaceutical cancer treatments and diagnostics into the clinic.”
– Dr. Mey Boukenna of PagsGroup, the Boston-based family office of Stephen Pagliuca
