BOSTON, July 31, 2026
Ratio Therapeutics announced the successful closing of a $70 million Series C financing, increasing the company’s total capital raised to more than $240 million. The financing attracted continued support from existing investors Duquesne Family Office and Bristol Myers Squibb, alongside new investments from Catalio Capital Management, Eli Lilly and Company, and Wasatch Group. The proceeds will support the advancement of Ratio’s targeted radiotherapeutics pipeline, including its ongoing ATLAS Phase 1/2 trial evaluating [Ac-225]RTX-2358 in advanced sarcomas, expansion of its next-generation radioligand therapy pipeline, and continued investment in manufacturing infrastructure to support future commercial production
Funding to Accelerate Clinical Development and Pipeline Expansion
The newly secured capital will primarily be used to advance the company’s lead radiotherapeutic candidate, [Ac-225]RTX-2358, which is currently being evaluated in the ATLAS Phase 1/2 clinical trial for patients with advanced sarcomas. Ratio also plans to move its next-generation radioligand therapy (RLT) candidate into clinical testing while expanding its discovery programs to target additional high-value oncology indications. The company aims to leverage its proprietary radiopharmaceutical platform to develop therapies for multiple tumor types with significant unmet medical needs, broadening its oncology portfolio beyond its current pipeline.
Manufacturing Investment Supports Long-Term Growth Strategy
In addition to advancing clinical development, Ratio will invest in strengthening its proprietary radiopharmaceutical technology platform and expanding manufacturing capacity. The company operates a hybrid manufacturing model supported by its vertically integrated production facility in Utah, external manufacturing partners, and a diversified isotope supply network. Scaling manufacturing capabilities is expected to support pipeline growth and prepare the company for future commercial demand as additional radiopharmaceutical candidates progress through clinical development.
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Investment Reflects Confidence in Radiopharmaceutical Platform
According to Ratio Therapeutics, the financing demonstrates strong investor confidence in the company’s scientific platform, clinical progress, and long-term strategy. Chief Executive Officer Dr. Jack Hoppin noted that the funding will help advance the ATLAS trial while supporting preparations for the company’s fifth Investigational New Drug (IND) filing. Investors also highlighted Ratio’s consistent execution across clinical development, strategic collaborations, and manufacturing expansion as key factors supporting the investment. With additional capital in place, the company is positioned to accelerate development of targeted, pharmacokinetically optimized radiopharmaceuticals designed to improve cancer treatment outcomes.
Source: Ratio Therapeutics press release
