Ratio Therapeutics Raises $70M to Advance Cancer Radiopharmaceutical Pipeline

Ratio Therapeutics, Inc. (Ratio), a clinical-stage pharmaceutical company developing best-in-class radiopharmaceuticals for cancer treatment, announced the closing of a $70 million Series C financing.

The financing included strong participation from existing investors Duquesne Family Office and Bristol Myers Squibb, along with new investors Catalio Capital Management, Eli Lilly and Company, and Wasatch Group.

Proceeds from the financing will fuel Ratio's next phase of growth. The company expects to use the funding to advance its ongoing ATLAS study evaluating its lead radiotherapeutic asset in advanced sarcomas, and to move its next-generation RLT candidate into the clinic. Ratio also plans 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. In parallel, the company will continue to strengthen its proprietary radiopharmaceutical technology and scale its manufacturing capabilities to support pipeline expansion and future commercial demand.

"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 5^th IND filing, these proceeds are instrumental across the development and ultimately the supply of our targeted and PK-optimized radiopharmaceuticals."

"Ratio is a leader in radiopharmaceutical innovation and it has backed up science with execution — hitting clinical milestones, deepening strategic partnerships, and building the manufacturing infrastructure this modality demands," said Sue Meng, Managing Director of Duquesne Family Office. "We've tracked that progress closely, and our investment reflects our strong conviction in Ratio's platform and its potential to change outcomes for patients."