When it comes to treating metastatic cancers, the current approach often destroys healthy tissue along with tumors. Radiopharmaceutical therapy (RPT), which targets cancer cells directly while sparing healthy cells, has garnered over $17 billion in investments, according to estimates compiled by Aptevo Therapeutics Inc. (NASDAQ: APVO). This search-and-destroy method is proving particularly effective for cancers that have spread throughout the body.
RPT drugs consist of a targeting molecule designed to find cancer cells and a radioactive isotope that destroys them. Both components are critical for the field to advance, and now Aptevo, a clinical-stage biotechnology company developing multispecific immuno-oncology therapeutics, and Niowave Inc., a radioisotope production and supply company, are teaming up to address these needs.
The two companies recently signed a 50/50 strategic collaboration to develop up to three radiopharmaceutical oncology programs. Aptevo brings its multispecific platforms and oncology development expertise, while Niowave contributes radioisotope production, supply, and manufacturing capabilities. To underscore their commitment, Niowave made an equity investment in Aptevo, representing an initial ownership position of 7.9%, with the potential to build an equity stake of up to 19.99% through warrant exercises.
“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.”
The collaboration marks Aptevo’s entry into radiopharmaceutical development, building on its phase 1b clinical trial of mipletamig for acute myeloid leukemia. Mipletamig and other investigational therapies are built on Aptevo’s ADAPTIR™ and ADAPTIR-FLEX™ platforms, which create precise, multi-specific antibodies that engage the immune system to selectively attack tumors.
For Niowave, the partnership represents its first foray into therapeutic development, extending beyond its core business of radioisotope manufacture and supply. By combining Aptevo’s targeting platforms with Niowave’s isotope capabilities, the companies aim to advance new treatments for patients with high unmet need.
Under the agreement, Aptevo will contribute assets from its proprietary multispecific antibody platforms, including targeting assets directed against Nectin-4, a clinically validated cancer target expressed on the surface of cancer cells. Niowave will provide radioisotopes like actinium-225 and related manufacturing and supply capabilities. The companies have designed and are ready to initiate the first stage of the collaboration, which will inform next steps.
“The collaboration between Aptevo and Niowave reflects a strategic expansion of Aptevo’s development plan,” said Jeff Lamothe, President and CEO of Aptevo. “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 radiopharmaceutical therapy market has drawn interest from Big Pharma, with investments underscoring the role of smaller, innovation-driven platforms. Development has been constrained by limited access to critical isotopes and manufacturing infrastructure. Niowave is a leading manufacturer and supplier of isotopes with established relationships across the radiopharmaceutical ecosystem. Combined, Aptevo said they can support radiopharmaceutical development in complex tumor settings that big pharmaceutical companies struggle to address alone.
To learn more about Aptevo, click here.
