Radiopharm Theranostics (RAD) Deutsche Bank ADR Virtual Investor Conference summary

Conference overview

• Presented at the 30th Deutsche Bank Depositary Receipts Virtual Investor Conference, highlighting a differentiated radiopharmaceutical pipeline targeting PD-L1, HER2, B7-H3, and KLK3 in prostate cancer.

• Emphasized a capital-efficient, non-vertically integrated model with distributed development and strategic partnerships, aligned with active radiopharma M&A trends.

• Highlighted industry trends, including a shift from infrastructure M&A to pipeline expansion, with big pharma seeking differentiated molecules and scalable multi-asset development.

Key platform and pipeline highlights

• Four clinical-stage radiotherapeutics target PD-L1, HER2, B7-H3, and KLK3, each with first-in-class potential and validated biology, leveraging both nanobody and mAb platforms.

• Protein-engineered molecules are designed for superior biodistribution and improved therapeutic index.

• The pipeline includes multiple independent opportunities for clinical and commercial success, with ongoing Phase I trials for all four lead assets.

Pipeline and clinical progress

• Four core therapeutic assets are in phase I, with PD-L1 and HER2 programs at mid-phase I and KLK3 and B7-H3 at early phase I; all are first-in-class with ongoing dose escalation.

• PD-L1 radiopharmaceutical is the only one in clinical development, showing promising tumor uptake and safety; dose escalation ongoing in Australia.

• HER2 nanobody program targets a unique epitope, with improved tumor-to-kidney ratio via molecular engineering; phase I progressing with new formulation to reduce kidney uptake.

• KLK3 program uses terbium-161 for prostate cancer, aiming for high specificity and reduced off-target toxicity; phase I underway to overcome PSMA limitations.

• B7-H3 monoclonal antibody program is recruiting strongly in the US, with modified Fc regions for better biodistribution and reduced toxicity; phase I basket trial enrolling multiple tumor types.