Starpharma Eyes $89M Milestones in Radiopharmaceutical Deal with Radiopharm
Starpharma has entered a strategic research and option agreement with Radiopharm Theranostics to develop a novel radiotherapy asset using its proprietary dendrimer technology, unlocking potential milestone payments of up to AUD $89 million.
- Research and option agreement signed between Starpharma and Radiopharm Theranostics
- Development of dendrimer-drug conjugate incorporating Radiopharm’s radiopharmaceutical molecule
- Starpharma to receive R&D fees and potential milestone payments up to AUD $89 million
- First radiopharmaceutical partnership for Starpharma and first Star Navigator program to formal collaboration
- Agreement includes option fee and royalties on net sales upon licensing
A New Chapter in Radiopharmaceutical Innovation
Starpharma, a Melbourne-based biotech company renowned for its dendrimer technology, has announced a significant partnership with Radiopharm Theranostics to develop a novel radiotherapy asset. This collaboration marks Starpharma's first formal radiopharmaceutical partnership and represents a milestone for its Star Navigator program, which aims to foster external collaborations by showcasing the versatility of its proprietary DEP® platform.
Under the agreement, Starpharma will leverage its dendrimer platform to develop and manufacture a dendrimer-drug conjugate that incorporates a radiopharmaceutical molecule currently under development by Radiopharm. This approach combines Starpharma’s nanoscale dendrimer technology with Radiopharm’s expertise in radiotherapeutics, potentially creating a differentiated asset in the fast-evolving field of targeted cancer therapies.
Financial Structure and Strategic Implications
Starpharma will begin immediate R&D and manufacturing activities, receiving service fees during this phase. Upon successful development and manufacturing, Radiopharm will have an exclusive option to license the asset, triggering a AUD $0.5 million option fee payable to Starpharma. Should Radiopharm exercise this option, Starpharma stands to gain an upfront payment of AUD $2 million, with the potential for up to AUD $89 million in milestone payments tied to development, regulatory, and commercial achievements, plus royalties on net sales.
This financial framework underscores the commercial potential of the collaboration and reflects confidence in the underlying technology. It also highlights Starpharma’s strategic focus on forming partnerships that can accelerate the translation of its dendrimer platform into impactful therapeutic solutions.
Broader Context and Future Outlook
Starpharma’s CEO Cheryl Maley emphasized that this partnership complements rather than competes with the company’s internal HER2-targeted radiotheranostic program, which remains a core priority. Instead, the collaboration with Radiopharm expands Starpharma’s footprint in radiopharmaceuticals and demonstrates the platform’s adaptability across multiple projects simultaneously.
Radiopharm’s CEO Riccardo Canevari expressed enthusiasm about exploring innovative radiotherapeutic modalities with Starpharma’s dendrimer technology, aiming to enhance efficacy and safety profiles of new radiopharmaceutical vectors. This partnership could thus pave the way for novel treatment options in oncology, addressing unmet medical needs.
As the radiopharmaceutical sector rapidly evolves, this agreement positions both companies to capitalize on emerging opportunities. For Starpharma, it validates the commercial and scientific promise of dendrimers in targeted cancer therapy, while for Radiopharm, it offers access to a cutting-edge delivery platform that could differentiate its pipeline assets.
Bottom Line?
This collaboration signals a promising expansion for Starpharma’s dendrimer technology, with milestone payments and licensing potential that could reshape its commercial trajectory.
Questions in the middle?
- Will Radiopharm exercise its exclusive option to license the dendrimer conjugate asset?
- How will this partnership impact the timelines and resources allocated to Starpharma’s internal radiotheranostic programs?
- What clinical indications will the novel radiotherapy asset target, and how soon might it enter human trials?
