Radiopharm Theranostics (ASX:RAD) – developing a portfolio of assets targeting cancer

Radiopharm Theranostics Limited (ASX:RAD) CEO and Managing Director Riccardo Canevari provides an update on the company’s pipeline and discusses the recent licensing of an asset from UCLA.

Lauren Evans: Hi. This is Lauren Evans for the Finance News Network. Joining us today from Radiopharm Theranostics (ASX:RAD) is Chief Executive Officer Riccardo Canevari. Riccardo, welcome back to FNN.

Riccardo Canevari: Thank you very much for having me.

Lauren Evans: It’s great to have you. Before we start, for new investors, could you give us a brief overview of the company?

Riccardo Canevari: Radiopharm Theranostics is a startup biotech with a clear mission. The mission is to improve outcomes for patients living with oncological disease. And the unique way we do this is leveraging the innovation of radiopharmaceutical therapy. This is our focus. This is where we believe we can create a difference.

Lauren Evans: Last time you were on the network, you announced your first clinical trial with GenesisCare. Can you give us an update on how this is all going?

Riccardo Canevari: We plan to start quite soon. In the next weeks, we are waiting to receive approval to start the trial. And we are very excited that we can start bringing innovation to Australia in an important area like non-small cell lung cancer. It’s a very high unmet medical need area, and we really hope that our products can bring hope to patients suffering from this disease.

Lauren Evans: And you’ve got a lot going on. What other projects do you have on the go?

Riccardo Canevari: Yes, we have a large pipeline, so we are very excited that we can start multiple clinical trials in the US and in Australia. So, in Australia, in addition to the trial in lung cancer, we are also planning a trial in prostate cancer, and this will happen in the next months as well. So, two therapeutic trials soon in Australia. And the US, of course, is also an important market for us, and we’ve planned two trials in US. In this case, we would like to focus on HER2 breast cancer and pancreatic cancer. So, it’s a very important moment for the company because all our preclinical work and all our imaging work now is becoming a therapeutic option in the trial. So, it’s a pivotal moment.

Lauren Evans: And Radiopharm in-licensed a new asset from UCLA. Can you tell us more about that?

Riccardo Canevari: The focus of the company, Radiopharm Theranostics, is really to bring innovation through radiopharmaceutical therapies. So, when we looked at UCLA, we found this asset very interesting. It’s a monoclonal antibody with a dual mechanism of action for patients suffering from osteosarcoma. Osteosarcoma is a tough disease, is mainly affecting kids from seven to 17 years old, and there is not many solution available for the oncologists or paediatric oncologists that want to try to have an impact on the disease. So, the product is in preclinical stage, but we believe that in 12 months from now, we can start our first Phase 1 trial.

Lauren Evans: Thanks, Riccardo. There has been a bit of a pullback in the biotech sector, so why should investors be looking at Radiopharm?

Riccardo Canevari: Yes, it’s a tough moment for biotech. It’s Australia, it’s US, it’s everywhere. We believe in the mid-term and long-term value of our company. Our company has asset, products, medicine that are very differentiated and are in an area of high unmet medical need. So what we can do now is really to work hard, or work harder, focus on execution, to be sure that we deliver on the promises of starting the clinical trials soon. It’s a company that has unique assets and in an area that is a fast-growing market, like the new pillar represented by the radiopharmaceutical therapy. We believe there’s good reason to believe in the company.

Lauren Evans: And given where everything is at, what does the outlook look like for the next six months?

Riccardo Canevari: We have a very busy period. In the next six months, 12 months, we have five clinical milestones, very important. So, we have a Phase 2 trial currently ongoing in the UK. It’s for patient with brain metastasis and is our imaging agent. We expect to have results around June or July this year, so very soon. And it’s going to be very important to decide about the next step. And also we have the already mentioned new Phase 1 trial starting soon. So, our focus is really to start the trial, to deliver for patients and to bring the pipeline to the next step.

Lauren Evans: Riccardo, thanks so much for joining us today. All the best, and I look forward to hearing from you again later in the year.

Riccardo Canevari: Thanks a lot, Lauren, for having me.