Ratio Therapeutics has secured $50m in a Series B financing round, a significant move aimed at advancing targeted radiotherapies for cancer treatment.

The funding, which takes the company's total capital raised to $90m since its inception in 2021, will bolster the development of its proprietary technology platforms, Trillium and Macropa.

The funding round saw continued support from Series A leaders Schusterman and Duquesne. New investors including Bristol Myers Squibb, PagsGroup and the Center for Technology Licensing at Cornell University also took part.

The capital will aid the company in expanding the applications of its platforms, which are designed for developing new fit-for-purpose radiopharmaceuticals.

It will advance the clinical development of its FAP-targeted radiopharmaceutical therapeutic.

The Trillium and Macropa platforms utilise the tumour-killing properties of alpha particles and are engineered to be tunable. This approach facilitates the creation of a variety of new radiopharmaceuticals to address a wide spectrum of solid tumours.

The platforms will overcome the challenges of delivery, safety and efficacy associated with most radiopharmaceuticals.

Ratio Therapeutics chairman and CEO Dr Jack Hoppin stated: “This funding advances Ratio's technology platforms and will help launch clinical trials for our FAP-targeted radiotherapeutic, which aims to treat a broad array of solid-tumour cancers.

“We have filed two INDs [investigational new drug applications] and completed enrolment in both radiation dosimetry studies in support of two of our corporate partnerships.

“Now we have the backing to move our first therapeutic candidate into clinical trials by the end of this year.”

The company develops next-generation precision radiopharmaceuticals for solid tumours, intending to transform oncology treatment paradigms.