Ratio Therapeutics secures $70m Series C funding for cancer radiotherapy

Ratio Therapeutics, a US-based clinical-stage developer of radiopharmaceuticals for cancer treatment, has closed a $70m Series C financing round. Existing investors Duquesne Family Office and Bristol Myers Squibb participated, joined by new investors such as Catalio Capital Management, Eli Lilly and Company, and Wasatch Group. The funding will be used to advance its ATLAS clinical trial, which is assessing its lead candidate [Ac-225]RTX-2358 for patients with advanced sarcomas. Further resources will also be directed towards moving a next-generation radioligand therapy candidate into clinical studies. Ratio Therapeutics plans to expand its discovery pipeline to additional cancer targets and apply its technology to new tumour types. The company will also use the investment to scale its proprietary radiopharmaceutical technology and manufacturing capabilities. Its development portfolio includes [Ac-225]RTX-2358 in the ATLAS Phase I/II trial and next-generation programmes targeting gastrin-releasing peptide receptor (GRPR). Ratio Therapeutics employs a hybrid manufacturing model, combining a vertically integrated site in Utah with outsourcing to external partners and diversified isotope supply.