Radiopharm Theranostics (ASX:RAD) Boosts Stake to 75% in Joint Venture with MD Anderson

August 27, 2024 10:00 AM AEST | By Sonal Goyal

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Radiopharm Theranostics (ASX:RAD) Boosts Stake to 75% in Joint Venture with MD Anderson — Image source: Company update

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Highlights

RAD has increased its ownership in Radiopharm Ventures, LLC to 75% from 51%.

The venture was established in September2022 with MD Anderson.

B7H3 mAb, the lead candidate, is successfully completing preclinical studies, with a Phase 1 therapeutic clinical trial targeted in 1H 2025.

Radiopharm Theranostics Limited (ASX:RAD) has increased its stake in Radiopharm Ventures, LLC, a joint venture (JV) formed in 2022 with The University of Texas MD Anderson Cancer Center. Originally holding a 51% stake, RAD now owns 75%.

This expansion comes as the JV makes notable progress with its cancer therapy pipeline, especially with the development of the B7H3 candidate and other preclinical assets.

What is B7H3?

B7H3 is an immune checkpoint protein infrequently found in healthy cells but overexpressed in most cancer tissues. High B7H3 expression is closely associated with more aggressive tumour characteristics, including larger tumour size and lymphatic invasion.

The lead candidate, a B7H3 monoclonal antibody (mAb), is nearing the end of preclinical studies, with a Phase 1 therapeutic trial planned for the first half of 2025. This trial will be a significant milestone as it will be the first study targeting B7H3 with a systemic radiopharmaceutical.

Additional preclinical candidates show promise

In addition to the B7H3 candidate, RAD is advancing two other preclinical candidates with early positive results. These are approaching final candidate selection for potential use across various solid tumour types.

RAD commits US$4 million

To support these developments, RAD has committed an additional US$4.0 million to the JV. This funding will be used to cover clinical and preclinical expenses.

The collaboration with MD Anderson allows Radiopharm to leverage the institution's world-renowned expertise in antigen discovery and molecular imaging, enhancing its radiopharmaceutical therapy capabilities.

RAD shares were trading at AU$0.034 apiece at the time of writing on 27 August 2024.

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