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Highlights
- RAD has entered into a strategic co-development partnership with Lantheus for advancing innovative radiopharmaceuticals development in Australia.
- Initial collaboration will focus on a Phase 1 imaging trial.
- The agreement includes a financial incentive of US$2 million to be paid to RAD upon meeting agreed clinical milestones.
Radiopharm Theranostics (ASX:RAD) has announced a strategic co-development partnership with Lantheus. The collaboration aims to accelerate the clinical development of innovative radiopharmaceuticals in Australia.
RAD is a clinical-stage biopharmaceutical company with focus on the development of oncology radiopharmaceuticals.
Objective of the partnership
The partnership’s initial focus is a Phase 1 imaging trial targeting multiple solid tumours.
RAD will lead the clinical development efforts in Australia, leveraging its expertise and infrastructure to advance cutting-edge radiopharmaceuticals. This initiative highlights the shared commitment of both companies to addressing high unmet needs in oncology.
Lantheus will fund all clinical development expenses under the partnership. Radiopharm is eligible to receive up to US$ 2 million in milestone payments upon achieving key clinical objectives, including ethics committee approval, first patient dosing, and completion of patient enrolment, for the first imaging trial outlined in the agreement.
RAD shares jump
Following the announcement, RAD share price jumped over 13% to trade at AU$0.026 per share at the time of writing on 30 December 2024.
