Boston, USA-based pharmaceutical company employing a suite of innovative technologies to develop best-in-class radiopharmaceuticals for the treatment and monitoring of cancers, Ratio Therapeutics closed its Series B financing with USD 50 million. The company announced the closure on January 17, 2023. Schusterman and Duquesne led the financing for the company. Meanwhile, PagsGroup, Bristol Myers Squibb and the Center for Technology Licensing at Cornell University joined in the funding.
Purpose of financing for Ratio Therapeutics
With the latest financing, Ratio Therapeutics seeks to expand the application of its proprietary technology platforms, Trillium™ as well as Macropa™. It further aims to develop novel best-in-class fit-for-purpose radiopharmaceuticals. In addition, the funding also drives the clinical development of the company’s fibroblast activation protein-alpha (FAP) targeted radiopharmaceutical therapeutic.
So far, the total financing raised by the company amounts to more than USD 90 million.
What the company’s official has to add
Dr. Jack Hoppin, Ratio’s Chairman and Chief Executive Officer, said, “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-tumour cancers. 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.”
What the investors have to comment
In addition, Dr. Mey Boukenna of PagsGroup, the Boston-based family office of Stephen Pagliuca, said, “The FAP-targeted therapeutic program has the potential to provide much-needed treatment to patients with multiple types of cancer. With Ratio’s unique assets and technology, 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 the company
John Babich, Ph.D., and Jack Hoppin, Ph.D. are the co-founders of the company. Ratio Therapeutics Inc. is a Boston-based pharmaceutical company. It is on the mission to accelerate the development of next-generation precision radiopharmaceuticals for solid tumours and transform oncology treatment paradigms. Th3 company currently employs a growing team of radiopharmaceuticals discovery as well as development experts. Ratio’s proprietary R&D platforms, Trillium™ and Macropa™, enable the imaging, discovery, and further the advancement of novel radiopharmaceuticals. Built to be the radiopharmaceuticals discovery and development partner of choice, Ratio currently collaborates with Bayer, Lantheus and Merck.
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