Ratio Therapeutics Enters into Research Collaboration and License Agreement with RayzeBio to Advance a Novel Radiopharmaceutical Program

Collaboration brings together complementary expertise and proprietary technologies to advance a next-generation radiopharmaceutical candidate with the potential to enhance tumor targeting.

BOSTON, Sept. 9, 2026 /PRNewswire/ -- Ratio Therapeutics Inc. (Ratio), a pharmaceutical company employing innovative technologies to develop best-in-class radiopharmaceuticals for cancer treatment, today announced that it has entered into a research collaboration and license agreement with RayzeBio, Inc., a clinical-stage radiopharmaceutical company with a mission to transform the lives of people with cancer, to advance a novel radiopharmaceutical program focused on two undisclosed targets.

Under the terms of the agreement, Ratio will receive an upfront payment and is eligible to receive development, regulatory and commercial milestone payments, as well as royalties on net sales. The companies will apply their respective discovery, translational and radiopharmaceutical expertise to design, evaluate and optimize a next-generation clinical development candidate. RayzeBio has an exclusive worldwide license to candidates and products developed under the program and, following completion of specified research, translational and candidate-assessment activities led by Ratio, will assume responsibility for further development, manufacturing and commercialization worldwide. "The team at Ratio is proud to partner with RayzeBio to advance a next-generation novel radiopharmaceutical approach," said Jack Hoppin, Ph.D., Chief Executive Officer of Ratio. "By bringing together the complementary scientific expertise, technologies, and capabilities of both organizations, we believe this collaboration creates an opportunity to develop a differentiated therapeutic candidate. Together, Ratio's discovery and translational capabilities and RayzeBio's complementary radiopharmaceutical expertise position us to explore innovative approaches aimed at improving tumor targeting, retention, and therapeutic efficacy, with the goal of delivering meaningful benefits for patients with cancer."

"The collaboration with Ratio represents an exciting opportunity to explore the potential of novel radiopharmaceutical approaches designed to address the complexity and heterogeneity of cancer," said Ben Hickey, President of RayzeBio. "The combination of our respective technologies and complementary development expertise creates a strong foundation for generating a novel differentiated therapeutic candidate. We believe this approach has the potential to support more precise tumor targeting and expand future therapeutic options for patients with cancer."

About Ratio Therapeutics

Ratio Therapeutics Inc. is a clinical-stage pharmaceutical company with the mission to accelerate the development of next-generation precision radiopharmaceuticals for solid tumors and transform oncology treatment paradigms. With headquarters and laboratories in Boston, the company currently employs a growing team of multidisciplinary experts with backgrounds in radiopharmaceutical discovery and development. Ratio's proprietary R&D platforms, Trillium™ and Macropa™, enable the development of fit-for-purpose heterobifunctional radiopharmaceuticals for therapy and imaging that possess pharmacokinetic modulation, thereby improving drug availability, tumor delivery, and tumor loading. The company maintains a strong commitment to manufacturing through its hybrid manufacturing approach with CDMOs and its own state-of-the-art facility located in Salt Lake City, Utah, ensuring reliable supply and quality in radiopharmaceutical production. View Ratio's pipeline here.

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SOURCE Ratio Therapeutics Inc.