Starpharma (ASX:SPL) Partners with Radiopharm Theranostics to Develop Radiotherapy Asset
Research and Partnership Details
Starpharma (ASX:SPL) has entered a research and option agreement with Radiopharm Theranostics (ASX:RAD, NASDAQ:RADX) to develop a novel radiotherapy asset. Utilizing Starpharma’s proprietary DEP® platform technology, the collaboration aims to develop and manufacture a dendrimer-drug conjugate that incorporates a radiopharmaceutical molecule under Radiopharm’s development.
Financial Terms
Under the agreement, Starpharma will receive R&D service and manufacturing fees, with activities commencing immediately. Radiopharm is granted an exclusive option to license the developed asset, which would involve a AUD $0.5 million option fee subject to successful development and manufacturing milestones. Upon exercising the option, an exclusive license agreement would provide Starpharma with an upfront payment of AUD $2 million, up to AUD $89 million in success-based milestones, and royalties on net sales.
Executive Comments
Starpharma’s Chief Executive Officer, Cheryl Maley, stated, “Starpharma is pleased to announce this research and option agreement with Radiopharm Theranostics, marking a key milestone for Starpharma as our first radiopharmaceutical partnership and the first Star Navigator program to progress into a formal research collaboration. It also provides external validation of the potential of dendrimers in the fast-evolving area of radiopharmaceutical drug development.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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