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Ratio Therapeutics

A clinical-stage biotechnology company developing targeted radiopharmaceutical therapies for cancer. Ratio Therapeutics focuses on precision radiotherapies designed to deliver radioactive isotopes directly to tumor cells while minimizing exposure to healthy tissues.

Company Overview

Ratio Therapeutics is a biotechnology company dedicated to developing next-generation radiopharmaceutical drugs for oncology. The company’s strategy centers on targeted radiotherapeutics that combine tumor-binding molecules with therapeutic radioisotopes, enabling selective destruction of cancer cells.

Its platform integrates molecular targeting agents with isotopes used for both diagnostic imaging and therapy, creating theranostic drug candidates capable of identifying and treating tumors.

The company’s development model emphasizes small-molecule radioligands designed to improve tumor penetration and pharmacokinetics compared with conventional antibody-based radiotherapies.

Headquarters and Global Presence

Ratio Therapeutics is headquartered in Boston, Massachusetts, in the United States.

The company collaborates with pharmaceutical companies, clinical researchers and isotope suppliers to support radiopharmaceutical discovery and clinical development programs.

Founding and History

Ratio Therapeutics was founded in 2021 by scientists Jack Hoppin and John Babich, both researchers with experience in nuclear medicine and radiopharmaceutical development.

The company was established to accelerate the development of precision radiopharmaceutical therapies targeting solid tumors. Since its launch, Ratio has raised venture financing to support its platform and clinical programs.

Funding rounds have included participation from investors and industry partners such as Bristol Myers Squibb and several venture capital firms.

Therapy Areas and Focus

Ratio Therapeutics develops targeted radiotherapies primarily for oncology.

Key areas of focus include:

solid tumors
tumor-specific molecular targets such as fibroblast activation protein
precision radiopharmaceutical diagnostics and therapeutics

These programs aim to improve cancer treatment by delivering radiation directly to tumor sites.

Technology Platforms and Modalities

Ratio Therapeutics’ technology platform integrates several proprietary radiopharmaceutical technologies.

Key components include:

Trillium™ targeting scaffold, which enables fine-tuning of drug pharmacokinetics and tumor targeting
Macropa™ chelator technology, designed to bind alpha-emitting isotopes such as actinium-225
small-molecule radioligands capable of carrying both diagnostic and therapeutic isotopes

Together these technologies enable the development of targeted alpha therapies and theranostic radiopharmaceuticals.

Key Pipeline and Programs

FAP-targeted radiotherapeutic program

Modality: targeted alpha radiotherapy
Target: fibroblast activation protein (FAP) expressed in tumor microenvironments
Status: Phase 1/2 clinical development
Mechanism: tumor-targeted radioligand delivering actinium-225 radiation to cancer cells.

Radiopharmaceutical discovery programs

Modality: small-molecule targeting agents carrying imaging or therapeutic radioisotopes
Indication focus: multiple solid tumors
Status: preclinical and early clinical development.

The company’s pipeline includes both therapeutic radioligands and diagnostic imaging agents.

Key Personnel

Jack Hoppin, Co-Founder and Chief Executive Officer
John Babich, Co-Founder and Chief Scientific Officer and President

Strategic Partnerships

Ratio Therapeutics collaborates with pharmaceutical companies and isotope suppliers to support development of its radiopharmaceutical programs.

Key partnerships include:

Bayer, collaborating on development of actinium-225-based radiotherapies
Lantheus, collaborating on diagnostic radiopharmaceutical programs
Merck (MSD), collaborating on research initiatives in radiopharmaceutical oncology
NorthStar Medical Radioisotopes, supporting isotope supply for therapeutic development.

These collaborations support research, clinical trials and manufacturing capabilities.

FAQ Section

The central strategic issue is demonstrating that next-generation radiopharmaceuticals can achieve superior tumor targeting and therapeutic efficacy while minimizing radiation exposure to healthy tissues. Clinical validation will determine whether the company’s platforms can deliver improved outcomes compared with existing radioligand therapies.

Radiopharmaceutical therapies use radioactive isotopes attached to tumor-targeting molecules to selectively deliver radiation to cancer cells. This approach allows treatment to be concentrated in tumors while limiting damage to surrounding tissues.

The company combines pharmacokinetic tuning technology with advanced isotope-binding chemistry. This enables the design of small-molecule radiotherapies capable of delivering alpha-emitting isotopes with improved tumor penetration and controlled biodistribution.

Actinium-225 is a high-energy alpha-emitting isotope that can destroy cancer cells with minimal penetration into surrounding tissues. Targeted delivery of this isotope is a central focus of the company’s radiopharmaceutical programs.

Ratio Therapeutics’ development programs focus primarily on solid tumors and cancers characterized by identifiable molecular targets in the tumor microenvironment.

The company integrates small-molecule targeting ligands with diagnostic imaging and therapeutic isotopes. Early imaging studies can help identify optimal drug candidates before advancing them into full therapeutic development.

Key issues include: