Ratio Therapeutics announced an agreement with the Wasatch Group to construct a state-of-the-art radiopharmaceutical research and manufacturing facility in Salt Lake City, Utah. The 65,000 square foot facility, expected to be fully operational in the second half of 2027, will be the first tenant in Wasatch Group's Medical Innovation Technology Research Campus.
The Boston-based pharmaceutical company, which develops radiopharmaceuticals for cancer treatment and monitoring, will use the facility to support vertical integration of its current and future pipeline. The site will provide end-to-end production capabilities and allow for efficient scaling of manufacturing as Ratio advances its candidates through clinical trials.
"Ratio is excited to partner with Wasatch, who is ambitiously driving our field forward. With our pipeline advancing rapidly, securing a strategic manufacturing footprint is crucial to our long-term vision," said Jack Hoppin, Ph.D., Chairman and Chief Executive Officer of Ratio.
Strategic Location Benefits
The Salt Lake City location offers significant advantages for radiopharmaceutical development and commercialization. The facility will position Ratio near potential suppliers, such as Nusano, while providing access to the region's robust radiopharmaceutical supply network. Its proximity to an international airport with central North American access addresses the complex supply chain demands inherent to radiopharmaceutical production.
Dr. Hoppin emphasized that the facility "provides the infrastructure needed to meet future manufacturing demands at commercial scale and represents a major step toward Ratio's mission of developing and rapidly transitioning innovative radiopharmaceuticals to the clinic."
Advancing Cancer Treatment Technologies
Ratio Therapeutics specializes in developing next-generation radiopharmaceuticals using proprietary discovery platforms. The company's lead candidate, a FAP-targeted radiotherapeutic, is expected to enter clinical trials this year. Radiopharmaceuticals represent an emerging class of precision medicines that can both diagnose and treat cancer by delivering targeted radiation directly to tumor cells.
The manufacturing facility will enable Ratio to maintain quality control throughout the production process while addressing the unique challenges of radiopharmaceutical manufacturing, including short half-lives of radioactive materials and stringent regulatory requirements.
Economic and Innovation Impact
"We are thrilled to welcome Ratio Therapeutics as the first tenant in our Medical Innovation Technology Research and Development Park, which we designed specifically to foster the medical breakthroughs of tomorrow," said Tanner J.M. Bowman, President of MIT Management, a division of Wasatch Group.
The partnership is expected to create high-quality jobs in the Salt Lake Valley while strengthening Utah's growing reputation as a center for healthcare innovation. The Wasatch Group, a Utah-based private holding company with investments in real estate, consumer goods, medical technology, and venture capital, has positioned its Medical Innovation Technology Campus near the University of Utah to host startups and research labs.
"Ratio's cutting-edge work in radiopharmaceuticals perfectly aligns with our vision for this innovation hub," Bowman added. "At Wasatch, we take a value-driven approach to business while never losing sight of what matters most: the people whose lives will be improved through these medical advancements."
Manufacturing Capabilities
The facility will be designed to meet the specialized requirements of radiopharmaceutical production, including radiation containment, specialized handling equipment, and compliance with Good Manufacturing Practice (GMP) standards. By establishing in-house manufacturing capabilities, Ratio aims to overcome supply chain challenges that have historically limited the widespread adoption of radiopharmaceuticals.
As the field of targeted radiopharmaceuticals continues to gain momentum in oncology, Ratio's investment in manufacturing infrastructure positions the company to capitalize on growing clinical interest and potential market opportunities in precision cancer treatment.
