Boston-based Ratio Therapeutics secures $50M in series B round funding, bringing the total raised to date to over $90 million.
The latest round witnessed continued participation from Series A leads Schusterman and Duquesne and welcomed among others PagsGroup, Bristol Myers Squibb and the Center for Technology Licensing at Cornell University.
Read also – WA-based Oleria Secures $33.1M in Series A Round Funding
This financing will expand the applications of company’s proprietary technology platforms, Trillium™ and Macropa™, to develop novel best in class fit-for-purpose radiopharmaceuticals.
Additionally, the funding will drive the clinical development of the company’s fibroblast activation protein-alpha (FAP) targeted radiopharmaceutical therapeutic.
Read also – Conn.-based Kusari Secures $8m in Pre-Seed & Seed Funding
Dr. Jack Hoppin, Ratio’s Chairman and Chief Executive Officer said, “This funding advances Ratio’s technology platforms and will help launch clinical trials for our FAP-targeted radiotherapeutic which aims to treat a broad array of solid-tumor cancers, We are grateful to our investors for their confidence in our technology. We have filed two INDs and completed enrollment in both radiation dosimetry studies in support of two of our corporate partnerships. Now we have the backing to move our first therapeutic candidate into clinical trials by the end of this year.”
Dr. Mey Boukenna of PagsGroup, the Boston-based family office of Stephen Pagliuca said, “The FAP-targeted therapeutic program has the potential to provide much needed treatment to patients with multiple types of cancer, With Ratio’s unique assets and technology, and Drs. Babich and Hoppin standing as pioneers in the radiopharmaceutical field, we believe they are very well positioned to advance novel radiopharmaceutical cancer treatments and diagnostics into the clinic.”
About Ratio Therapeutics
Ratio Therapeutics Inc. is a Boston-based pharmaceutical company with the mission to accelerate the development of next-generation precision radiopharmaceuticals for solid tumors and transform oncology treatment paradigms.
Read also – Boston-based Digital Onboarding Secures $58M in Funding
Founded by John Babich, Ph.D., and Jack Hoppin, Ph.D., the company currently employs a growing team of radiopharmaceuticals discovery and development experts with backgrounds in the life science industry. Ratio’s proprietary R&D platforms, Trillium™ and Macropa™, enable the imaging, discovery, and advancement of novel radiopharmaceuticals.
