Radiopharm commences First Phase 1 trialling in Australia

Radiopharm Theranostics (ASX:RAD) has entered a non-binding agreement with Australia’s largest provider of integrated cancer care GenesisCare to start its first Phase 1 trial locally.

Involving Radiopharm’s proprietary nanobody from its Nano-mAbs platform, the phase 1 therapeutic trial will target lung cancer.

This treatment has the potential to be the 'first in class' radiopharmaceutical therapy targeting PDL1.

The drug will specifically target the PDL1 expression in non-small cell lung cancer, which is the most common type of lung cancer.

Improving patient outcomes

“This is currently an area of high unmet need, and we are hopeful of bringing a first in class treatment to the market that will greatly improve patient outcomes,” said Radiopharm CEO, Riccardo Canevari.

“This is currently an area of high unmet need, and we are hopeful of bringing a first in class treatment to the market that will greatly improve patient outcomes.”

A leading provider of integrated oncology care globally, GenesisCare has than 440 locations in Australia, UK, USA and Spain.

Commenting on the today’s announced agreement, GenesisCare’s Kris Barooshian said:

“To date, radiopharmaceutical treatments have predominantly been utilised in the treatment of prostate cancer and neuroendocrine tumours, so it is exciting to be expanding the nuclear medicine treatment paradigm to new therapeutic areas.”

Radiopharm’s share price was down -3.70% two hours out from the close today.

Radiopharm traded lower today.