Aptevo Therapeutics Inc. (NASDAQ: APVO) and Niowave Inc. have announced a 50/50 strategic collaboration to develop up to three radiopharmaceutical oncology programs, aiming to advance targeted cancer therapies in a market that has attracted over $17 billion in investments. The partnership leverages Aptevo's multispecific antibody platforms and oncology expertise with Niowave's radioisotope production, supply, and manufacturing capabilities.
Radiopharmaceutical therapy (RPT) is an emerging approach that targets cancer cells directly while sparing healthy tissue, offering a potentially more effective treatment for metastatic cancers. However, the field faces challenges in tumor targeting and reliable isotope access. This collaboration aims to address both, with Niowave also making an equity investment in Aptevo, initially representing a 7.9% ownership stake with potential to reach up to 19.99% through warrant exercises.
Under the agreement, Aptevo will contribute assets from its ADAPTIR™ and ADAPTIR-FLEX™ platforms, including targeting assets directed against Nectin-4, a clinically validated cancer target expressed on solid tumors. Niowave will provide radioisotopes such as actinium-225 and related manufacturing capabilities. The companies have designed and are ready to initiate the first stage of the collaboration, which will inform future development.
“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.”
For Aptevo, this marks an expansion into radiopharmaceuticals, building on its existing phase 1b clinical trial of mipletamig for acute myeloid leukemia. “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 timing is opportune as Big Pharma increasingly invests in radiopharmaceutical companies, highlighting the need for innovation-driven platforms. Niowave's established relationships in the radiopharmaceutical ecosystem provide a reliable isotope supply in a resource-constrained market. The collaboration aims to overcome limitations that have prevented radiopharmaceuticals from achieving blockbuster status, potentially offering new treatment options for patients with difficult-to-treat cancers.
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