Ratio Therapeutics, a US-based clinical-stage developer of radiopharmaceuticals for cancer treatment, has closed a $70m Series C financing round. The funding will be used to advance its ATLAS clinical trial, which is assessing its lead candidate [Ac-225]RTX-2358, a fibroblast activation protein (FAP)-targeted radiotherapeutic, for patients with advanced sarcomas. Ratio Therapeutics plans to expand its discovery pipeline to additional cancer targets and apply its technology to new tumour types that are not currently being addressed. On the manufacturing side, Ratio Therapeutics utilises a hybrid model, combining a vertically integrated site in Utah with outsourcing to external partners and diversified isotope supply. This approach is designed to provide flexible clinical and potential commercial supply as the company expands its radiopharmaceutical pipeline.