Ratio Therapeutics has raised $70 million in Series C funding to advance its targeted radiopharmaceutical pipeline and expand its manufacturing infrastructure. The round increases the clinical-stage pharmaceutical company’s total capital raised to more than $240 million. Existing investors Duquesne Family Office and Bristol Myers Squibb participated alongside new investors Catalio Capital Management, Eli Lilly and Company, and Wasatch Group.
Ratio plans to use the proceeds to advance the ATLAS Phase 1/2 study evaluating its lead radiotherapeutic candidate, [Ac-225]RTX-2358, in patients with advanced sarcomas.
The company will also move a next-generation radioligand therapy candidate into clinical development and expand its discovery pipeline into additional oncology targets and tumor types.
Ratio is preparing to file its fifth investigational new drug application.
The financing will also support further development of Ratio’s radiopharmaceutical technology and expansion of its manufacturing capabilities to meet clinical and potential commercial demand.
Ratio’s lead program targets fibroblast activation protein and uses actinium-225 to deliver radiation to cancer cells.
Its broader pipeline includes a next-generation gastrin-releasing peptide receptor program, mono- and bispecific radioligand therapies and imaging assets.
The company’s technology includes its Trillium pharmacokinetic tuning platform and Macropa chelator system.
Ratio also has a partnered SSTR2 radioligand therapy program with Novartis and operates a vertically integrated manufacturing facility in Utah alongside external manufacturing and isotope supply partners.
KEY QUOTES:
“As we march the ATLAS trial forward and prepare for our fifth IND filing, these proceeds are instrumental across the development and ultimately the supply of our targeted and PK-optimized radiopharmaceuticals.”
Jack Hoppin, CEO of Ratio Therapeutics
“Ratio is a leader in radiopharmaceutical innovation, and it has backed up science with execution, hitting clinical milestones, deepening strategic partnerships and building the manufacturing infrastructure this modality demands.”
Sue Meng, Managing Director of Duquesne Family Office
