Radiopharm Theranostics (ASX:RAD) has forged a strategic co-development partnership with Lantheus to accelerate the clinical development of innovative radiopharmaceuticals in Australia, marking a significant advancement in oncology treatment development.
The partnership, announced December 30, 2024, positions Radiopharm to spearhead clinical development initiatives in Australia, utilizing its established infrastructure and expertise in the field. The initial collaboration will focus on a basket clinical trial targeting multiple solid tumors, addressing critical unmet needs in cancer treatment.
Financial Terms and Milestone Structure
Under the agreement's terms, Lantheus will assume responsibility for all clinical development costs associated with the program. Radiopharm stands to receive up to USD 2 million in milestone payments, contingent upon achieving specific clinical development targets, including:
- Ethics committee approval
- First patient dosing
- Completion of patient enrollment for the initial imaging trial
Strategic Significance and Leadership Perspectives
Brian Markison, CEO of Lantheus, emphasized the strategic importance of the partnership: "This partnership is an important step forward in our purpose to advance our best-in-class radiopharmaceutical therapies. Radiopharm's deep expertise and capabilities in Australia make them an ideal collaborator for this endeavor."
Riccardo Canevari, CEO of Radiopharm, expressed enthusiasm about the collaboration's potential: "We are thrilled to collaborate with Lantheus, a global leader in radiopharmaceuticals. This partnership strengthens our ability to bring innovative treatments to patients in need and demonstrates the power of combining our expertise and resources."
Radiopharm's Clinical Development Portfolio
Radiopharm Theranostics brings significant experience to the partnership, with an established pipeline of six distinct platform technologies spanning peptides, small molecules, and monoclonal antibodies. The company's current clinical program includes:
- One Phase II trial
- Two Phase I trials
- Focus areas across various solid tumor cancers, including lung, pancreas, and brain
The collaboration leverages Radiopharm's position as a clinical-stage biopharmaceutical company listed on the ASX since November 2021, with a track record of developing innovative radiopharmaceutical products for both diagnostic and therapeutic applications.
