Radiopharm Theranostics to acquire Pharma15 Corp

Australian radiopharmaceuticals developer Radiopharm Theranostics (ASX: RAD) announced that through its wholly-owned US subsidiary, it has entered into a binding agreement to acquire Pharma15 Corporation, a private US-based venture which is developing next-generation therapeutic radiopharmaceuticals for prostate cancer.

Pharma15 was founded by leading radiopharmaceutical scientist Professor David Ulmert and chief executive Suzanne Dance. Pharma15 is developing assets which seek to overcome resistance to prostate-specific membrane antigen (PSMA) targeting cancer therapies currently available or in late-stage development. In each case, the technologies exhibit highly specific targeting of receptors expressed on cancer cells, but not in healthy tissues. This selectivity may further limit toxicity in the new approaches to targeted radiotherapy in prostate cancer.

Financial terms of the deal