Rhine Pharma was formed following a collaboration between Telix and Heidelberg University Hospital (UKHD), which aimed to develop a PSMA2-targeting small molecule that could be labelled with either 99mTc for SPECT3 imaging, or 188Re for radioligand therapy. The collaboration successfully created a potential next-generation theranostic compound, RHN0014, which Rhine Pharma is advancing into a novel Phase I/IIa theranostic clinical study as of Q4 2024, exploring the safety profile and efficacy of both 99mTc-RHN001 and 188Re-RHN001 in patients with advanced prostate cancer.