NEW YORK – Radiopharm Theranostics on Friday said that it will acquire Pharma15 and its antibody-based radio-immuno theranostic platform for developing therapies in PSMA-expressing prostate cancers.
Sydney-based Pharma15 is developing radiotherapeutics that overcome resistance to currently available PSMA-targeting cancer therapies. Under the agreement, Radiopharm will acquire 100 percent of Pharma15 shares at a purchase price of A$5.9 million (US$4 million) to be paid in two equal installments. One installment is to be paid on March 3, 2023, and the second on the first anniversary following completion of the acquisition. In addition, the agreement includes consideration for a milestone payment of A$3.4 million upon filing of a new drug application with the US Food and Drug Administration. The closing date for the acquisition is March 6, 2023.
Pharma15 Cofounder David Ulmert and Ken Herrmann, a professor of nuclear medicine at the University of Duisburg-Essen, will join Radiopharm's scientific advisory board.
Radiopharm's pipeline includes investigational radiotherapeutics and diagnostics in development for a range of cancers including clinical-stage programs in brain metastasis, HER2-positive breast cancer, and non-small cell lung cancer. In September 2022, Radiopharm launched a joint venture with MD Anderson Cancer Center to develop four therapeutic products based on technologies developed at MD Anderson.