# Ratio Therapeutics

> Ratio Therapeutics is a Boston-based clinical-stage biotech engineering next-generation targeted radiopharmaceuticals for solid tumors. Its proprietary Trillium and Macropa platforms tune how radioactive cancer-killing payloads travel through the body, aiming to deliver a lethal dose to tumors while sparing healthy tissue. Backed by major pharma partners including Novartis, Bayer, Lantheus and Bristol Myers Squibb, Ratio is advancing FAP- and SSTR2-targeted programs from imaging into therapy.

- **Founded:** 2021
- **Headquarters:** Boston, United States
- **Founders:** Jack Hoppin (Co-Founder & CEO), John Babich (Co-Founder, President & Chief Science Officer)
- **Team size:** 76 employees
- **Products:** Trillium platform, Macropa platform, RTX-1363S
- **Notable:** Closed $50M Series B in January 2024, bringing total raised to over $90M., Signed a license and collaboration agreement with Novartis worth up to $745M., Dosed first patient in a Phase I FAP-targeted PET imaging study with Lantheus and PharmaLogic (2023).

## Products & services

- **Trillium platform** — A tri-functional targeting scaffold that combines pharmacokinetic modulation with best-in-class chelation. One arm binds the tumor target, one carries the radionuclide payload, and one interacts reversibly with albumin to tune how long the compound circulates.
- **Macropa platform** — Proprietary chelation technology that holds large alpha-emitting radionuclides such as actinium-225 securely, enabling multi-isotope theranostic compounds for both imaging and therapy.
- **RTX-1363S** — A highly selective, high-affinity fibroblast activation protein (FAP) inhibitor radiolabeled with copper-64 for PET imaging, now advancing into Phase 1/2 therapy in late-stage aggressive sarcomas.

## Achievements

- Closed $50M Series B in January 2024, bringing total raised to over $90M.
- Signed a license and collaboration agreement with Novartis worth up to $745M.
- Dosed first patient in a Phase I FAP-targeted PET imaging study with Lantheus and PharmaLogic (2023).
- Dosed first cohort in a Phase 1/2 study of a FAP-targeted radiopharmaceutical in late-stage aggressive sarcomas.
- Built two proprietary, validated platforms (Trillium and Macropa) spun out of founder research at Weill Cornell.

## Latest updates

- **2024-11** — Entered a license and collaboration agreement with Novartis worth up to $745M for an SSTR2-targeted radiotherapeutic.
- **2024-01** — Announced $50M Series B financing led by returning investors Schusterman and Duquesne with new investor Bristol Myers Squibb.
- **2023-07** — Announced first patient dosed in Phase I study of FAP-targeted radiopharmaceutical for PET imaging, in collaboration with Lantheus and PharmaLogic.
- **2023-01** — Closed $20M Series A financing to advance targeted radiotherapies.

## Links

- Website: https://ratiotx.com
- LinkedIn: http://www.linkedin.com/company/ratio-therapeutics
- Twitter/X: https://twitter.com/Ratio_Tx

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Profile page: https://yespress.io/ratio-therapeutics
Published by YesPress — https://yespress.io
Last updated: 2026-06-07