• RAD to advance the clinical development of Lantheus innovative radiopharmaceuticals in Australia
• Initial collaboration will focus on a Phase 1 imaging trial
• Financial incentives to be paid to RAD upon meeting clinical milestone targets

Radiopharm Theranostics (ASX:RAD, “Radiopharm” or the “Company”), a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for areas of high unmet medical need, is pleased to announce that it has entered into a strategic co-development partnership with Lantheus to advance the clinical development of innovative radiopharmaceuticals in Australia.

Under the agreement, Radiopharm will lead clinical development efforts in Australia, leveraging its extensive experience and infrastructure to drive advancements in the field. The collaboration includes plans for a basket clinical trial targeting multiple solid tumors, underscoring both companies' commitment to addressing unmet medical needs in oncology.

As part of the partnership, Lantheus will cover all clinical development costs associated with the program. Additionally, Radiopharm will receive up to USD 2 million as milestone payments upon achieving key clinical development objectives, including ethics committee approval, first patient dosing, and completion of patient enrolment, for the first imaging trial subject to this agreement.

Lantheus CEO Brian Markison commented, “This partnership is an important step forward in our purpose to advance our best-in-class radiopharmaceutical therapies. Radiopharm’s deep expertise and capabilities in Australia make them an ideal collaborator for this endeavor.”

Riccardo Canevari, CEO of Radiopharm, stated, “We are thrilled to collaborate with Lantheus, a global leader in radiopharmaceuticals. This partnership strengthens our ability to bring innovative treatments to patients in need and demonstrates the power of combining our expertise and resources.”