Ratio Therapeutics Secures $20 Million in Series A Funding to Advance Targeted Alpha-Particle Radiopharmaceuticals for Prostate Cancer in Collaboration with Bayer

On February 2, Boston-based biotechnology company Ratio Therapeutics secured $20 million in Series A financing, doubling its total funding. The proceeds will be used to advance its targeted radiopharmaceutical therapies into clinical trials.

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Ratio Therapeutics raised $20 million in seed funding last year. The project’s co-founders, Dr. Jack Hoppin and Dr. John Babich, used the seed capital to advance the development of alpha-particle radiopharmaceuticals.

The company was established to refine two technologies aimed at enhancing the safety and efficacy of current radiation therapy, including Bayer’s alpha-particle radiopharmaceutical for the treatment of prostate cancer.Xofigo (Ra-223dichloride) and Novartis for the treatment of neuroendocrine tumors (NETs)β-particle-emitting radiopharmaceuticalsLutathera (lutetium，Lu-177 dotatate)。

Ratio’s Trillium platform utilizes an albumin carrier to improve the delivery of alpha-particle-emitting molecules to tumors, reduce off-target side effects in other tissues, and allow for the adjustment of radiotherapeutic properties, such as in vivo retention time. Macropa is a chelator used to attach the alpha-particle-emitting radionuclide Ac-225 to Trillium and other compounds, including small molecules, peptides, and antibodies.

Overall, the goal of these two technologies is to enable the cell-killing properties of alpha particles to target tumors with greater precision—more like a sniper rifle than a shotgun. The company’s approach has attracted Bayer and medical imaging specialist Lantheus as partners.

RatioCollaborating with Bayer to research new prostate cancer therapies. Meanwhile, withLantheus Corporate Collaborative DevelopmentNTI-1309。NTI-1309is a fibroblast activation protein (FAP) targeted imaging agents, which hold potential for cancer imaging.

The new financing will be used to further develop Trillium and Macropa, advance select projects into the clinical stage, and fund new hires and strategic partnerships.

The latest round of financing was led by Duquesne Capital and Schusterman Family Investments.

Ratio also announced that Susan Whoriskey, a veteran of the biopharmaceutical industry, has joined the company as a strategic advisor. Whoriskey was a member of the founding executive teams at Moderna, Vera Therapeutics, Momenta Pharmaceuticals, and Cubist Pharmaceuticals.

“This financing extends our cash runway into 2024 and will enable us to continue making progress toward our milestones,” said Hoppin, CEO of Ratio.

“We look forward to working closely with our shareholders to continue advancing our R&D platform and delivering innovative therapies to address patients’ unmet needs as soon as possible.”

References:

https://pharmaphorum.com/news/ratio-raises-20m-build-its-radiopharma-ambitions