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.
Media Contacts:
Rachelle Babb, Ph.D.
Russo Partners, LLC
rachelle.babb@russopartnersllc.com
+1 (929) 325-7559
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SOURCE Ratio Therapeutics Inc.