Novartis Inks $745 Million Deal with Ratio Therapeutics for Next-Gen SSTR2-Targeted Radiopharmaceutical

Nov 18, 2024 21:12 CST Updated 21:12

Ratio Therapeutics

Targeted Radiopharmaceuticals Developer

Novartis

Drug Development and Manufacturing

November 18,Boston,Ratio Therapeutics, a pharmaceutical company leveraging innovative technologies to develop optimal radiopharmaceuticals for cancer treatment and monitoring, announced a global exclusive licensing and collaboration agreement with Novartis. The collaboration utilizes Ratio's expertise in radioligand therapy discovery and development, as well as its technology platform, to develop somatostatin receptor 2 (SSTR2) targeted radiopharmaceutical candidates for cancer.New Frontier! Over $20 Million in Seed Funding to Develop Radiopharmaceuticals）

Ratio Therapeutics, Inc. CEO Jack Hoppin, Ph.D., said:"The team at Ratio is honored and excited to partner with Novartis to develop the next generation of SSTR2-targeted therapies. Our goal is to collaboratively advance a first-in-class treatment approach against SSTR2-expressing tumors."

President of Biomedical Research at NovartisFiona MarshallIndicates:"Radioligand therapy has transformative potential for certain forms of cancer, and Novartis is committed to maximizing its impact by continuously improving patient welfare. We are excited to collaborate with Ratio Therapeutics to advance this RLT candidate and jointly provide additional treatment options for patients with difficult-to-treat cancers."

According to the terms of the agreement, Ratio will receive up to $745 million in upfront and potential milestone payments and is eligible for tiered royalties. Ratio will collaborate with Novartis to advance preclinical activities to research and select SSTR2-targeted development candidates. Novartis will be responsible for all remaining development, manufacturing, and commercialization activities.This collaboration combines the expertise and strengths of Ratio and Novartis to further enhance the safety and efficacy of radiopharmaceuticals, benefiting patients.

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