Ratio Therapeutics announced today that it closed a $70 million Series C financing to support its radiopharmaceutical development and manufacturing.
Existing investors Duquesne Family Office and Bristol Myers Squibb participated. New investors Catalio Capital Management, Eli Lilly and Wasatch Group joined as well.
Boston-based Ratio plans to use the proceeds to fund its next phase of growth. That includes strengthening its proprietary radiopharmaceutical technology and scaling manufacturing capabilities to support pipeline expansion and future commercial demand. Other uses include advancing its ongoing study of its lead radiotherapeutic asset [Ac-225]RTX-2358 in advanced sarcomas.
The company also plans to move its next-generation RLT candidate into the clinic. Ratio also intends to expand its discovery pipeline into new, high-value oncology targets, extending its radiopharmaceutical platform beyond its current indications and into additional tumor types with significant unmet need and substantial market potential.
“This financing reflects the confidence our investors and strategic partners have in the progress we have made to date and the opportunities that lie ahead,” said Dr. Jack Hoppin, Chief Executive Officer of Ratio Therapeutics. “As we march the ATLAS trial forward and prepare for our 5th IND filing, these proceeds are instrumental across the development and ultimately the supply of our targeted and PK-optimized radiopharmaceuticals.”
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