Radiopharm Theranostics (ASX:RAD), a clinical-stage biopharmaceutical company developing novel oncology radiopharmaceuticals, has increased its ownership stake in Radiopharm Ventures, LLC, the company’s joint venture with The University of Texas MD Anderson Cancer Center (MDACC), from 75 per cent to 87.5 per cent.
The decision to increase equity in the joint venture comes as Radiopharm Ventures continues to make progress in its therapeutic pipeline, led by its first-in-class B7H3-targeting candidate, Betabart (RV01). The monoclonal antibody (mAb), radiolabelled with lutetium, is being developed as a radiopharmaceutical therapeutic for multiple solid tumours.
In July 2025, the U.S. Food and Drug Administration (FDA) granted Investigational New Drug (IND) clearance for Betabart, enabling the launch of a Phase I dose-escalation trial. The study will evaluate safety and early efficacy in patients with a range of solid tumours, with the first patient expected to be dosed in the first quarter of 2026. According to Radiopharm, clinical sites are already activated in preparation for enrollment.
If successful, this will mark the first clinical trial globally targeting B7H3 using a systemic radiopharmaceutical agent. B7H3 is an immune checkpoint protein that is rarely expressed in normal tissue but is commonly overexpressed in a wide range of tumour types. High levels of B7H3 have been associated with more aggressive disease and lymphatic invasion, making it a high-potential therapeutic target.
“Now is an exciting time to increase our ownership in the joint venture, as we approach first-in-human data for Betabart,” said Riccardo Canevari, CEO and Managing Director of Radiopharm. “We remain confident in the potential value of this program and its ability to provide new therapeutic options for patients with difficult-to-treat solid tumours.”
Beyond Betabart, Radiopharm Ventures is advancing two additional preclinical assets, both of which have shown encouraging early results. These candidates are progressing toward final selection in 2026, with potential applications across multiple tumour types.
Radiopharm Ventures, LLC was established in September 2022 as a collaboration between Radiopharm Theranostics and MD Anderson Cancer Center. The joint venture combines MD Anderson’s leading expertise in antigen discovery and molecular imaging with Radiopharm’s development capabilities in radiopharmaceutical therapies.