Ratio Therapeutics Announces $50M Series B Financing to Advance Targeted Radiotherapies for Cancer Treatment
Boston-Based Radiopharmaceutical Company Brings Total Financing to More Than $90 Million Since 2021 Launch
BOSTON, Jan. 17, 2024 /PRNewswire/ -- 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, today announces the close of its $50M Series B financing, bringing the total raised to date to over $90 million. 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.
This financing will expand the applications of the 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.
Forward Looking Statements. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on information currently available to the Company and were made by the Company on a reasonable basis and reflects the Company's good faith belief and/or estimate of the matters described therein. The Company provides no assurance that actual results and future performance and achievements will meet or not differ from the expectations of management or qualified persons.
About Ratio Therapeutics
Ratio Therapeutics Inc. is a Boston-based pharmaceutical company with the mission to accelerate the development of next-generation precision radiopharmaceuticals for solid tumors and transform oncology treatment paradigms. Founded by John Babich, Ph.D., and Jack Hoppin, Ph.D., the company currently employs a growing team of radiopharmaceuticals discovery and development experts with backgrounds in the life science industry. Ratio's proprietary R&D platforms, Trillium™ and Macropa™, enable the imaging, discovery, and advancement of novel radiopharmaceuticals. Built to be the radiopharmaceuticals discovery and development partner of choice, Ratio currently collaborates with Bayer, Lantheus and Merck.
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
[email protected]
+1 (929) 325-7559
SOURCE Ratio Therapeutics Inc.
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