On January 17, 2024 Ratio Therapeutics Inc. (Ratio), a pharmaceutical company that employs a suite of innovative technologies to develop best-in-class radiopharmaceuticals for the treatment and monitoring of cancers, reported the close of its $50M Series B financing, bringing the total raised to date to over $90 million (Press release, Ratio Therapeutics, JAN 17, 2024, View Source [SID1234639292]). The latest 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.
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This financing will expand the applications of company’s proprietary technology platforms, Trillium and Macropa, to develop novel best in class fit-for-purpose radiopharmaceuticals. Additionally, the funding will drive the clinical development of the company’s fibroblast activation protein-alpha (FAP) targeted radiopharmaceutical therapeutic.
"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," said Dr. Jack Hoppin, Ratio’s Chairman and Chief Executive Officer. "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."
"The FAP-targeted therapeutic program has the potential to provide much needed treatment to patients with multiple types of cancer," said Dr. Mey Boukenna of PagsGroup, the Boston-based family office of Stephen Pagliuca. "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."
About Trillium and Macropa
Ratio Therapeutics’ fully integrated proprietary R&D platforms, Trillium and Macropa, harness the tumor-killing power of alpha particles. The tunable nature of the platforms enables the efficient and timely development of numerous novel radiopharmaceuticals for a broad range of high unmet need in solid tumors, while addressing the trifecta of typical challenges seen with most radiopharmaceuticals: delivery, safety and efficacy. Trillium is a pharmacokinetic modulation platform that can be altered to bind to any antigen-specific target, while Macropa is a best-in-class Actinium-225 chelator. The combination of these platforms enables the tumor-killing power of alpha particles with potential for first- and best-in-class radiopharmaceuticals.