Starpharma (ASX: SPL), an innovative biotechnology company with over two decades of experience in advancing dendrimer technology from the lab to the patient, has announced a research and option agreement with Radiopharm Theranostics (ASX: RAD) to develop a novel radiotherapy asset. The agreement follows six months of preliminary research under Starpharma’s Star Navigator program, marking a key milestone as Starpharma’s first radiopharmaceutical partnership and the first Star Navigator program to advance into a formal research collaboration. Starpharma will apply its proprietary DEP® platform technology to develop and manufacture a dendrimer-drug conjugate incorporating a radiopharmaceutical molecule under development by Radiopharm.
Under the terms of the agreement, Starpharma will receive R&D service and manufacturing fees for this initial phase of work, with activities commencing immediately. Starpharma will grant Radiopharm an exclusive option to license the developed asset. Upon successful development and manufacture, an option fee of AUD $0.5 million will be payable to Starpharma. Subsequent to Radiopharm exercising its option, an exclusive license agreement would be entered into.
The license agreement includes an upfront payment of AUD $2 million to Starpharma. The company is also eligible to receive up to AUD $89 million in success-based development, regulatory, and commercial milestones, along with royalties on net sales. Starpharma’s CEO, Cheryl Maley, expressed enthusiasm for the partnership, highlighting the potential of dendrimers in radiopharmaceutical drug development and its validation of Starpharma’s technology.
Radiopharm Theranostics is a clinical-stage radiotherapeutics company developing a platform of innovative radiopharmaceutical products for diagnostic and therapeutic applications. Radiopharm CEO Riccardo Canevari stated that they are committed to exploring different and innovative options, with the potential to improve efficacy and safety. The collaboration aims to leverage Starpharma’s DEP® platform to create targeted cancer therapies and expand commercial opportunities for both companies.
