Ratio raises $50M as radiopharma field finds its groove
Radiopharmaceutical biotech Ratio Therapeutics has raised a $50 million Series B to bring its first therapeutic into the clinic, it said Wednesday morning.
The biotech has now raised a total of $90 million since its founding in mid-2021. Based in Boston’s Seaport District, the biotech unveiled itself in June 2022 and has already inked collaborations with Bayer, Merck and Lantheus.
Radiopharma companies have been in the news with considerably more frequency in recent months with two key acquisitions by Eli Lilly and Bristol Myers Squibb, and financing rounds rolling in for a string of startups, like Artbio, Convergent Therapeutics and Abdera Therapeutics. Bristol Myers invested in Ratio’s Series B. The expanding market is also causing CDMOs to iron out supply chain bumps and configure access to raw materials.
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