Radiopharm Theranostics announced it has agreed commercial terms for services in a signed Letter of Intent (LOI) with global oncology provider GenesisCare, whose support is critical to start Radiopharm's first Phase 1 trial in Australia. The phase 1 therapeutic trial will involve Radiopharm's proprietary nanobody from its Nano-mAbs platform, which targets the PDL1 expression in non-small cell lung cancer, the most common type of lung cancer. This is an area of high unmet need and there is potential for the treatment to be the "first in class" radiopharmaceutical therapy targeting PDL1. Whilst the LOI is not a binding agreement, work has already commenced under the LOI. The
corresponding services agreement is currently being negotiated. The term of the initial project is anticipated to be 18 months. The overall cost of the services under the LOI are not considered material and are included in existing budgets and funding. Under the LOI, Radiopharm will deploy its novel radiopharmaceutical (RAD204) targeting PDL/1-positive lung cancer in patients at Australian clinical research centres secured by GenesisCare. It is likely that this will be the first-ever human clinical trial exposure to this Radiopharm compound and, if successful, will set the stage for expanded development in lung cancer patients whose cancer is sensitive to treatment with this type of immunotherapy.