RAD Increases Ownership in Radiopharm Ventures to 75%

Radiopharm Theranostics (ASX:RAD, “Radiopharm” or the “Company”), a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for areas of high unmet medical needs, is pleased to announce that it has increased its ownership stake in Radiopharm Ventures, LLC, a joint venture created with The University of Texas MD Anderson Cancer Center, from 51% to 75%.

Radiopharm Ventures, LLC, is a joint venture created in Q3 2022 between MD Anderson and Radiopharm Theranostics
Leading candidate B7H3 mAb is successfully completing preclinical studiesB7H3 Phase I therapeutic clinical trial planned to start in H1 CY2025B7H3 Phase 1 will be the first clinical trial globally targeting B7H3 as with a systemic radiopharmaceuticalTwo additional preclinical Radiopharm Ventures’ assets show early positive results – move to final candidate selection

The move to an increased ownership percentage comes as the joint venture continues to show promising progress in its cancer therapeutic pipeline, including the advancement of its leading B7H3 candidate and other preclinical assets.

B7-H3 is an immune checkpoint protein that is very infrequently seen in the majority of healthy cells but it is consistently abnormally overexpressed in the majority of cancer tissues. High expression of B7H3 in cancer is associated with greater tumor size and lymphatic invasion.

The B7H3 monoclonal antibody (mAb) lead candidate is successfully completing preclinical studies.

The company plans to initiate a Phase I therapeutic trial in the first half of calendar 2025, making a significant step toward clinical application.

Additionally, two other preclinical candidates have demonstrated early positive results and have progressed towards final candidate selection, with potential applications across multiple solid tumour types.

To support these advancements and its ownership percentage increase to 75%, Radiopharm has committed an additional USD$4.0 million to the joint venture, to cover future preclinical and clinical expenses.

Radiopharm and MD Anderson launched Radiopharm Ventures, LLC in September 2022 to develop novel radiopharmaceutical products for cancer treatment. The joint venture leverages MD Anderson’s expertise in antigen discovery and molecular imaging alongside Radiopharm’s capabilities in developing radiopharmaceutical therapies.

Riccardo Canevari, CEO & Managing Director of Radiopharm, commented: ‘We are encouraged by the progress to date within Radiopharm Ventures. The increased ownership by RAD, coupled with the advancements in the associated programs, positions us well to enter a Phase 1 clinical trial with B7H3 next year.”

Click here for the full ASX Release