Aptevo Therapeutics Inc. (NASDAQ: APVO) and Niowave Inc. have announced a 50/50 strategic collaboration to develop up to three radiopharmaceutical oncology programs, leveraging Aptevo's multispecific antibody platforms and Niowave's radioisotope production and supply capabilities. The partnership includes an equity investment by Niowave in Aptevo, representing an initial ownership position of 7.9%, with potential to increase up to 19.99% through warrant exercises.
Radiopharmaceutical therapy (RPT) is gaining traction as a targeted approach to treat metastatic cancers by delivering radioactive isotopes directly to tumor cells while sparing healthy tissue. The field has attracted over $17 billion in investments, according to estimates compiled by Aptevo. However, progress has been hindered by limited access to critical isotopes and insufficient tumor targeting. This collaboration aims to overcome those barriers.
Aptevo brings its ADAPTIR™ and ADAPTIR-FLEX™ platforms, which are modular protein technologies designed to create precise, multispecific antibodies that engage the immune system. Niowave contributes its expertise in radioisotope production, including actinium-225, and manufacturing capabilities. The first program will target Nectin-4, a clinically validated cancer target expressed on the surface of solid tumors.
“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.”
Jeff Lamothe, President and CEO of Aptevo, added: “The collaboration between Aptevo and Niowave reflects a strategic expansion of Aptevo’s development plan... 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 timing is strategic, as Big Pharma has been investing heavily in radiopharmaceutical companies, underscoring the need for innovative platforms and reliable isotope supply. Niowave's established relationships across the radiopharmaceutical ecosystem reinforce its role as a reliable partner in a resource-constrained market. Together, the companies aim to advance new treatment options for patients with difficult-to-treat cancers.
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