Radiopharm Theranostics Ltd secures brain tumour-targeting technology for clinical pipeline portfolio

Radiopharm Theranostics Ltd (ASX:RAD) has sublicensed a promising imaging and therapeutic radiopharmaceutical technology created by the Case Western Reserve University (CWRU) of Ohio, United States, from NeoIndicate, LLC.

When combined with low-level radiation, the PTPµ-targeted agent functions as a highly specific Positron Emission Tomography (PET) imaging agent. When combined with high energy radiation, the PTPµ-targeted agent works as a radiopharmaceutical theranostic to destroy tumours.

PTPµ (PTPmu), the target of the treatment, is a unique biomarker present only in tumour cells but not healthy cells.

Under the sublicensing agreement, Radiopharm has the right to develop the PTPµ-targeted agent as an imaging diagnostic and as a targeted radiopharmaceutical theranostic as part of its clinical development pipeline.

The company considers highly specific, targeted agents for the imaging and treatment of tumours as the future of precision medicine, a category this technology falls squarely within.

Manufacturing of PTPµ is scheduled to commence in December 2022.

“Commercial terms very attractive”

“We are eager to bring the highly sensitive and tumour-specific PTPµ-targeted agent to our clinical development pipeline and plan to enter Phase 1 studies in approximately 12 months,” Radiopharm Theranostics CEO and managing director Riccardo Canevari said

“The sublicensing agreement with NeoIndicate, who licensed the technology from CWRU, will build upon our portfolio of targeted radiopharmaceutical therapies.

“A number of tumour types can be detected with this novel PTPµ-targeted agent. Due to the limited treatment options and immediate need for therapies, we are focused on detecting and treating aggressive brain tumours with the PTPµ-targeted agents.

“From a cash perspective, the commercial terms are very attractive and can be absorbed into our existing cash flow forecasts.”

Radiopharm believes the radionuclide carrying PTPµ-targeting agent holds the potential of a ‘first in class’ therapy in a range of tumour types, made all the more attractive by ‘modest’ cash obligations and single-digit royalties within the commercial terms of the sublicensing.

Shares are trading 8.57% higher at $0.19.

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