Starpharma (ASX: SPL), an innovative biotechnology company with over two decades of experience advancing dendrimer technology, has announced a research and option agreement with Radiopharm Theranostics (ASX: RAD) to develop a novel radiotherapy asset. Starpharma will apply its proprietary DEP® platform technology to develop and manufacture a dendrimer-drug conjugate incorporating a radiopharmaceutical molecule under development by Radiopharm. This agreement marks Starpharma’s first radiopharmaceutical partnership and the first Star Navigator program to advance into a formal research collaboration.
Under the terms of the agreement, Starpharma will receive R&D service and manufacturing fees for its work, which commences immediately. Radiopharm will be granted an exclusive option to license the developed asset, subject to successful development and manufacturing. Upon exercising the option, Radiopharm will pay Starpharma an option fee of AUD $0.5 million, followed by an upfront payment of AUD $2 million under the license agreement.
Starpharma is also eligible to receive up to AUD $89 million in success-based milestones, along with royalties on net sales. Starpharma’s CEO, Cheryl Maley, expressed excitement about the partnership, highlighting its validation of dendrimers in radiopharmaceutical drug development. Radiopharm’s CEO, Riccardo Canevari, added that the collaboration is to explore innovative options to improve the efficacy and safety of new radiopharmaceutical vectors.
The collaboration aligns with Starpharma’s strategy of developing high-value assets and forming strategic partnerships in radiopharmaceuticals. Starpharma’s Star Navigator program facilitates partnerships by allowing collaborators to access and evaluate the benefits of its technology. The company confirmed this collaboration will not impact the progress of Starpharma’s internal development efforts, including their HER2-targeted radiotheranostic program.
