Radiopharm Announces Strategic Co-Development Partnership with Lantheus for Australia

Rhea-AI Summary

Radiopharm Theranostics (ASX:RAD) has entered into a strategic co-development partnership with Lantheus to advance clinical development of radiopharmaceuticals in Australia. The collaboration will initially focus on a basket clinical trial targeting multiple solid tumors. Under the agreement, Lantheus will cover all clinical development costs, and Radiopharm will receive up to USD 2 million in milestone payments for achieving key objectives in the first imaging trial, including ethics committee approval, first patient dosing, and completion of patient enrollment. Radiopharm will lead the clinical development efforts in Australia, leveraging its infrastructure and experience in the field.

Positive

• Secured full funding from Lantheus for clinical development costs
• Potential to earn up to USD 2 million in milestone payments
• Partnership with established global leader in radiopharmaceuticals
• No capital outlay required from Radiopharm for clinical trials

Negative

• Milestone payments contingent on achieving specific clinical targets
• to Australian market development

• RAD to advance the clinical development of Lantheus innovative radiopharmaceuticals in Australia
• Initial collaboration will focus on a Phase 1 imaging trial
• Financial incentives to be paid to RAD upon meeting clinical milestone targets

SYDNEY, Dec. 30, 2024 (GLOBE NEWSWIRE) -- 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 need, is pleased to announce that it has entered into a strategic co-development partnership with Lantheus to advance the clinical development of innovative radiopharmaceuticals in Australia.

Under the agreement, Radiopharm will lead clinical development efforts in Australia, leveraging its extensive experience and infrastructure to drive advancements in the field. The collaboration includes plans for a basket clinical trial targeting multiple solid tumors, underscoring both companies' commitment to addressing unmet medical needs in oncology.

As part of the partnership, Lantheus will cover all clinical development costs associated with the program. Additionally, Radiopharm will receive up to USD 2 million as milestone payments upon achieving key clinical development objectives, including ethics committee approval, first patient dosing, and completion of patient enrolment, for the first imaging trial subject to this agreement.

Lantheus CEO Brian Markison commented, “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, stated, “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.”

About Radiopharm Theranostics

Radiopharm Theranostics is a clinical stage radiotherapeutics company developing a world-class platform of innovative radiopharmaceutical products for diagnostic and therapeutic applications in areas of high unmet medical need. Radiopharm has been listed on ASX (RAD) since November 2021. The company has a pipeline of six distinct and highly differentiated platform technologies spanning peptides, small molecules and monoclonal antibodies for use in cancer, in pre-clinical and clinical stages of development from some of the world’s leading universities and institutes. The pipeline has been built based on the potential to be first-to-market or best-in-class. The clinical program includes one Phase II and two Phase I trials in a variety of solid tumour cancers including lung, pancreas, and brain. Learn more at radiopharmtheranostics.com.

Authorized on behalf of the Radiopharm Theranostics Board of Directors by Executive Chairman Paul Hopper.

For more information:

Riccardo Canevari
CEO & Managing Director
P: +1 862 309 0293
E: rc@radiopharmtheranostics.com

Matt Wright
NWR Communications
P: +61 451 896 420
E: matt@nwrcommunications.com.au

Follow Radiopharm Theranostics:

Website – https://radiopharmtheranostics.com/
Twitter – https://twitter.com/TeamRadiopharm
Linked In – https://www.linkedin.com/company/radiopharm-theranostics/
InvestorHub – https://investorhub.radiopharmtheranostics.com/

This press release was published by a CLEAR® Verified individual.

FAQ

What are the milestone payment terms in the Radiopharm-Lantheus partnership?

Radiopharm (ASX:RAD) will receive up to USD 2 million in milestone payments upon achieving key clinical development objectives, including ethics committee approval, first patient dosing, and completion of patient enrollment for the first imaging trial.

Who will cover the clinical development costs in the Radiopharm-Lantheus partnership?

Lantheus will cover all clinical development costs associated with the program in Australia.

What type of clinical trial is planned under the Radiopharm-Lantheus partnership?

The collaboration includes plans for a basket clinical trial targeting multiple solid tumors.

What is Radiopharm's role in the partnership with Lantheus?

Radiopharm will lead clinical development efforts in Australia, leveraging its extensive experience and infrastructure to advance radiopharmaceutical development.

When was the Radiopharm-Lantheus partnership announced?

The partnership was announced on December 30, 2024.