PR Newswire
BOSTON, Nov. 18, 2024
Ratio to receive upfront, and potential milestones and tiered royalty payments
BOSTON, Nov. 18, 2024 /PRNewswire/ -- Ratio Therapeutics Inc. (Ratio), a pharmaceutical company employing innovative technologies to develop best-in-class radiopharmaceuticals for cancer treatment and monitoring, entered today into an exclusive worldwide license and collaboration agreement with Novartis Pharma AG, a subsidiary of Novartis AG (NYSE: NVS). The collaboration leverages Ratio's radioligand therapy discovery and development expertise as well as its technology platforms for the development of a Somatostatin Receptor 2 (SSTR2) radiotherapeutic candidate for cancer.
"The team at Ratio is honored and excited to partner with Novartis on the development of a next-generation SSTR2-targeting therapeutic," said Jack Hoppin, Ph.D., Chief Executive Officer of Ratio. "Together, we aim to develop a best-in-class therapy in the fight against SSTR2-expressing tumors."
"Radioligand therapies hold transformative potential for certain forms of cancer, and Novartis is committed to maximizing their impact by continually improving the benefit for patients," said Fiona Marshall, President of Biomedical Research at Novartis. "We are delighted to collaborate with Ratio to advance this RLT candidate and work together to bring forward additional therapeutic options for patients with difficult-to-treat cancer."
Under the terms of the agreement, Ratio will receive combined upfront and potential milestone payments up to $745m, and is eligible to receive tiered royalty payments. Ratio will collaborate with Novartis to drive preclinical activities to research and select an SSTR2-targeting development candidate. Novartis will assume responsibility for all remaining development, manufacturing, and commercialization activities.
The collaboration combines the expertise and strengths of Ratio and Novartis to further elevate the safety and efficacy of radiopharmaceuticals for patient benefit.
Chestnut Partners served as exclusive financial advisor to Ratio for this transaction.
About Ratio Therapeutics
Ratio Therapeutics Inc. is a clinical-stage pharmaceutical company with the mission to accelerate the development of next-generation precision radiopharmaceuticals for solid tumors and transform oncology treatment paradigms. With headquarters and laboratories in Boston, the company currently employs a growing team of multidisciplinary experts with backgrounds in radiopharmaceutical discovery and development. Ratio's proprietary R&D platforms, Trillium™ and Macropa™, enable the development of fit-for-purpose radiopharmaceuticals for therapy and imaging that possess pharmacokinetic modulation, thereby improving drug availability, tumor delivery, and tumor loading. The company is also currently advancing the development of its first FAP-targeted radiotherapeutic with plans to enter clinical trials next year.
Please visit www.ratiotx.com for more information and follow us on Twitter (X) and LinkedIn.
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SOURCE Ratio Therapeutics Inc.
