Aptevo Therapeutics Inc. (NASDAQ: APVO) and Niowave Inc. have entered into a 50/50 strategic collaboration to develop up to three radiopharmaceutical oncology programs, aiming to address the growing demand for targeted cancer therapies. The partnership leverages Aptevo’s multispecific antibody platforms and Niowave’s radioisotope production and supply expertise, marking a significant step in the $17 billion radiopharmaceutical therapy (RPT) market.
Radiopharmaceutical therapy represents a novel approach to treating metastatic cancers by targeting cancer cells directly while sparing healthy tissue, unlike traditional treatments that can cause extensive collateral damage. The field has attracted over $17 billion in investments, according to estimates compiled by Aptevo, underscoring its potential to treat difficult-to-manage cancers. However, advancement has been hindered by the need for better tumor targeting and reliable isotope access—two challenges this collaboration aims to solve.
Under the agreement, Aptevo will contribute assets from its proprietary multispecific antibody platforms, including targeting assets directed against Nectin-4, a clinically validated cancer target expressed on the surface of solid tumors. Niowave will provide radioisotopes such as actinium-225 and related manufacturing and supply capabilities. The companies have designed and are ready to initiate the first stage of the collaboration, which will inform future development.
Niowave also made an equity investment in Aptevo, representing an initial ownership position of 7.9%, with the potential to increase to up to 19.99% through warrant exercises. This financial commitment underscores Niowave’s confidence in the partnership’s potential to advance new treatment options for patients with high unmet needs.
“This collaboration will deepen our radiopharmaceutical development capabilities and better position us to support current partners and the broader industry,” said Mike Zamiara, CEO of Niowave. “Our investment reflects our confidence in the opportunity to combine Aptevo’s targeting capabilities with Niowave’s radioisotope production and supply expertise.”
The collaboration marks Aptevo’s entrance into radiopharmaceutical-based therapeutic development, expanding beyond its existing pipeline of immuno-oncology therapies like mipletamig, which is in phase 1b clinical trials for acute myeloid leukemia. For Niowave, it represents its first foray into therapeutic development, extending its role beyond isotope manufacturing and supply.
Radiopharmaceutical therapy has drawn interest from Big Pharma, which has been investing in emerging companies to capitalize on this clinically validated oncology area. However, development has been constrained by limited access to critical isotopes and manufacturing infrastructure. Niowave, a leading manufacturer and supplier of isotopes with established relationships across the radiopharmaceutical ecosystem, is well-positioned to address these supply constraints.
“Aptevo and Niowave are aiming to change that,” said Jeff Lamothe, President and CEO of Aptevo. “By combining our targeting approach with Niowave’s isotope capabilities, we are well-positioned to explore new ways to address the complexity of many kinds of cancer.” The partnership aims to provide a capital-efficient path to build radiopharmaceutical oncology programs, potentially offering more effective treatments with fewer side effects for patients with difficult-to-treat cancers.
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