With diverse applications in diagnostic imaging, theragnostics, and targeted therapy, radiopharmaceuticals are gradually tapping into an ocean of unlimited opportunities
By 2030, the radiopharmaceutical market size is expected to grow to $12.18B. In 2023, Lilly (POINT Biopharma) topped the list among Radiopharma companies with a market cap of $726.88B followed by Novartis with a market cap of $235.92B, RayzeBio with $102.14B
PharmaShots brings a condensed report on the Top 20 Radiopharma Companies based on Market Cap.
20. Radiopharm Theranostics
Market Cap: $14.29M
Founded Year: 2021
Total Employees: ~50
Headquarters: Victoria, Australia
Stock Exchange: ASX
Radiopharm Theranostic is an Australian biotech company indulged in the pre-clinical or clinical-stage development of radiopharmaceuticals for the diagnosis and treatment of various indications, including cancer
The company has a vast pipeline of products under clinical development, including RAD101 for Brain Metastases and RAD301 for Pancreatic Cancer. Moreover, under its pre-clinical development pipeline, the company currently has RAD202 for Breast and Gastric Cancer, RAD402 for Prostate Cancer, RAD206 for Breast and Lung Cancer, etc.
In Mar 2023, Radiopharm reported the acquisition of Pharma15 Corp
19. OncoTherapy Science
Market Cap: $28.78M
Founded Year: 2017
Total Employees: ~31
Headquarters: Oslo, Norway
Stock Exchange: OSE
A biotech company, Thor Medical, develops and commercializes alpha-particle emitters as a therapy for the treatment of cancer. The company develops these products by separating the naturally occurring radioactive decay products from Thorium (Th-232)
The company leverages its technology to develop radioactive products. Thor Medical is indulged in the business of supplying alpha-emitters to companies developing radiopharmaceuticals for tumor-targeted cancer therapies
In Jun 2023, Thor Medical signed a definitive share exchange agreement with Nordic Nanovector to combine the two companies in an all-share transaction. Nordic Nanovector is known for its antibody-radionuclide conjugates with lead assets including Betalutin, a novel CD37-targeting antibody-radionuclide-conjugate being developed for the treatment of patients with NHL
18. QSam Biosciences
Market Cap: $28.78M
Founded Year: 2001
Total Employees: ~60
Headquarters: Kawasaki, Japan
Stock Exchange: TYO
OncoTherapy Science discovers and develops molecular-targeted anti-cancer drugs, cancer therapies, and cancer-specific serum diagnostic markers to improve clinical benefits among patients. The company develops its products using cancer-specific genes highly expressed in cancer cells
The company develops a variety of products including, low molecular drugs, antibody drugs, cancer peptide vaccines, and diagnostic medicines.OncoTherapy had earlier reported a significant anti-cancer activity of OTSA101 in mouse xenograft models
Moreover, in terms of its radio pharma business, the company is currently developing OTSA101, an anti-FZD10 antibody that specifically binds to FZD10 in cancer cells, for the treatment of Synovial Sarcoma
17. Perseus Proteomics
Market Cap: $29.39M
Founded Year: 2004
Total Employees: ~4
Headquarters: Texas, United States
Stock Exchange: OTCMKTS
A clinical-stage biotech company, QSam Biosciences develops and commercializes targeted therapeutic radiopharmaceuticals for the treatment of cancers in adults and paediatric patients
CycloSam (Samarium-153 DOTMP), a bone-targeting radiopharmaceutical developed by Iso Therapeutics, is among the company’s lead radiopharma assets. The company is currently evaluating CycloSam under clinical trial for the treatment of bone cancer and related diseases
In Nov 2023, Telix Pharmaceuticals signed a conditional term sheet to acquire QSam Biosciences for its lead asset CycloSam
16. Thor Medical
Market Cap: $34.37M
Founded Year: 2001
Total Employees: ~20
Headquarters: Tokyo, Japan
Stock Exchange: TYO
An integral part of FUJIFILM Corporation, Perseus Proteomics’ primary business idea is to discover and develop monoclonal antibodies. The company leverages the hybridoma method (animal immunes) and the phase display method (human antibodies) to develop antibodies for a wide range of indications
Currently, the company’s pipeline focuses on the development of PPMX-T002 and PPMX-T004, both of which are anti-cancer drugs with an antibody targeting CDH3 connected with a radioisotope yttrium 90 (90Y). Moreover, the company is also indulged in developing PPMX-T003 for Blood Cancers, including Polycythaemia Vera and Aggressive NK-Cell Leukaemia
In Dec 2023, Perseus Proteomics reported the P-I clinical trial results evaluating the safety and efficacy of PPMX-T003 in Polycythaemia Vera patients
15. CASI Pharmaceuticals
Market Cap: $73M
Founded Year: 1991
Total Employees: ~200
Headquarters: Beijing, China
Stock Exchange: NASDAQ
A US-based pharmaceutical company, CASI Pharmaceuticals is a renowned biopharma company that develops and commercializes pharmaceutical therapies across the globe, including the US and China
Zevalin, a CD20-directed radiotherapeutic antibody, is a lead asset to the company developed under the radiopharma segment. Earlier in Feb 2019, CASI Pharmaceuticals received the exclusive license to Zevalin from Acrotech Biopharma
In Jul 2023, CASI Pharmaceuticals reported the acquisition of all rights and global intellectual property rights to Cleave Therapeutics’ CB-5339, a novel VCP/p97 inhibitor
14. Cellectar Biosciences
Market Cap: $118.15M
Founded Year: 1996
Total Employees: ~15
Headquarters: New Jersey, United States
Stock Exchange: NASDAQ
A late clinical-stage biopharma company, Cellectar Biosciences is a company that discovers and develops proprietary drugs through its Phospholipid Drug Conjugate (PDC) delivery platform
The company mainly targets cancer indications by developing PDC targeting cancer cells to deliver an effective and safe off-target effect. Under its product pipeline, the company has CLR 131, a small-molecule PDC designed to provide targeted delivery of iodine-131 (radioisotope) directly to cancer cells along with proprietary preclinical PDC chemotherapeutic programs and multiple partnered PDC assets
In Oct 2023, Cellectar secured four patents for its PDC delivery platform and Iopofosine (131I) across Europe, Australia, and Canada
13. Dong Wha Pharmaceutical
Market Cap: $204.84M
Founded Year: 1897
Total Employees: ~800
Headquarters: Seoul, Korea
Stock Exchange: KRX
Dong Wha Pharmaceutical is a Korean pharma company that discovers and develops pharmaceutical products covering therapy areas, including antipyretics, analgesics, and antibiotics for cardiovascular, dermatological, and alimentary ailments
As an asset under its radiopharma business, the company is currently developing Milician (DW-166HC) injections for Hepatocellular Carcinoma and Haemophiliac Arthritis
In Aug 2023, Dong Wha Pharma reported the acquisition of TRUNG SON Pharma, a Vietnamese Pharmacy Chain, for an aggregate of ~$301M
12. Actinium Pharmaceuticals
Market Cap: $226.71M
Founded Year: 2000
Total Employees: ~50
Headquarters: New York, United States
Stock Exchange: NYSE
A clinical-stage targeted raclinical-stagediotherapy company; Actinium Pharmaceuticals focuses on developing therapeutics for patients with unmet needs. Strengthened by its Antibody Warhead Enabling (AWE) technology Platform, the company manages to produce highly selective and potent antibody radiation conjugates
Actinium’s lead candidate is lomab-B (CD45) (apamistamab-I-131) currently in P-III, indicated for BMT conditioning. In P-I, Actinium has Iomab-ACT (CD45), Actimab-A (CD33) and CLAG-M, Actimab-A (CD33) and Venetoclax, Actimab-A (CD33) and Venetoclax with HMA.
In Feb 2023, Actinium Pharmaceuticals signed a Cooperative Research and Development Agreement (CRADA) with the NCI to develop Actimab-A for the treatment of Acute Myeloid Leukaemia (AML) and other Hematologic Malignancies
11. Clarity Pharmaceuticals
Market Cap: $499.84M
Founded Year: 2010
Total Employees: ~40
Headquarters: Sydney, Australia
Stock Exchange: ASX
A clinical stage radiopharma company, Clarity Pharmaceuticals discovers and develops radiopharmaceuticals for the treatment of various therapy areas with Oncology as its primary focus
Targeted Copper Theragnostic (TCT) is the company’s lead asset developed based on its SAR Technology Platform for the treatment of children and adults with cancer. Clarity’s pipeline is lined up with a series of products for the treatment of various indications including Prostate Cancer (SAR-bisPSMA, SAR-BBN) and Neuroblastoma (SARTATE)
In Apr 2023, Clarity Pharmaceuticals received $6.7M as R&D Tax Incentive Refund as part of the Australian Federal Government’s R&D Tax Incentive Program
10. Fusion Pharmaceuticals
Market Cap: $905.07M
Founded Year: 2014
Total Employees: ~100
Headquarters: Ontario, Canada
Stock Exchange: NASDAQ
A clinical-stage biopharma company, Fusion Pharmaceuticals is committed to developing radiopharmaceuticals in the form of precision medicines. Targeted Alpha Therapies (TAT) is a platform that develops radiopharmaceuticals by conjugating alpha particle emitting isotopes to various targeting molecules to deliver alpha particle payload to tumors selectively
[225Ac]-FPI-1434 (FPI-1434) is a lead asset under Fusion’s clinical pipeline, developed by combining an antibody, IGF-1R, with its Fast-Clear linked technology to create a TAT for utility across multiple tumor types
In Feb 2023, Fusion Pharmaceuticals reported the acquisition of RadioMedix’s IND application for the P-II (TATCIST) clinical trial evaluating 25Ac-PSMA I&T for the treatment of Prostate Cancer
09. Jubilant Pharma
Market Cap: $1.06B
Founded Year: 1978
Total Employees: ~1,034
Headquarters: Uttar Pradesh, India
Stock Exchange: NSE
A multinational pharmaceutical company specializing in a wide range of products and services, Jubilant Pharma holds a reputable position among radiopharmaceutical companies. With four manufacturing facilities in North America and two in India, Jubilant has a widespread customer base in 80 countries
Jubilant divides its business into three segments viz. Speciality Pharmaceuticals, CDMO, and Generics. Jubilant’s approved products are RUBY-FILL, HICON, DRAXIMAGE, SMART-FILL, and Lyophilized kits, including MDP/MDP-25, MAA, DTPA, Sestamibi, and Gluceptate
In Jun 2023, Jubilant Radiopharma’s RUBY Rubidium Elution System and RUBY-FILL (Rubidium Rb82 generator) received the US FDA’s approval for the evaluation of regional myocardial perfusion in patients
08. Eczacıbaşı-Monrol
Market Cap: $1.11B
Founded Year: 1951
Total Employees: ~13,000
Headquarters: Istanbul, Turkey
Stock Exchange: IST
A global radiopharmaceutical company, Eczacıbaşı-Monrol develops and manufactures GMP grade radioisotopes and radiopharmaceuticals. Under its radiotherapy segment, the company develops, manufactures, and distributes LUTETIUM (177LU) CHLORIDE N.C.A and LUTETIUM (177LU) CHLORIDE C.A for cancer treatment
The company divides its wide range of products into four categories viz. Theragnostic, Pet Products, Spect Products, and Cold Kits
In Sep 2023, Eczacıbaşı-Monrol reported its decision to invest $37.59M to increase its production capacity for non-carrier-added Lutetium-177 (n.c.a. Lu-177) as a step to fulfil the growing global demand for this product
07. PeptiDream
Market Cap: ~1.37B
Founded Year: 2006
Total Employees: ~713
Headquarters: Kanagawa, Japan
Stock Exchange: TYO
A Japanese biopharma company, PeptiDream discovers and develops functional peptide therapeutics for the treatment of diseases with unmet needs
PeptiDream entered the business of radiopharmaceuticals by acquiring all the outstanding shares of the FUJIFILM Toyama Chemical, a subsidiary of Fujifilm Corporation indulged in the business of radiopharmaceuticals. The acquisition brought eight undisclosed radiopharma therapeutic products under PeptiDream’s pipeline for the treatment of Thyroid, Non-Hodgkin’s Lymphoma, and Pheochromocytoma/Paraganglioma
In Sep 2023, PeptiDream entered into a collaboration and license agreement with Genentech to discover and develop novel macrocyclic peptide-radioisotope drug conjugates
06. Telix Pharmaceuticals
Market Cap: $2.55B
Founded Year: 2015
Total Employees: ~230
Headquarters: Melbourne, Australia,
Stock Exchange: ASX
A clinical-stage biopharma company, Telix Pharmaceuticals develops and commercializes diagnostic and therapeutic radiopharmaceuticals
The company’s pipeline contains a broad range of products including TLX591 (177Lu–rosopatamab), TLX592 (225Ac–RADmAb), TLX250 (177Lu–girentuximab), TLX101 (131I-IPA), and TLX66 (90Y-besilesomab) covering therapy areas including Prostate, Kidney, Brain, Blood, and Bone Marrow Cancers
In Nov 2023, Telix Pharmaceuticals signed a conditional term sheet to acquire QSAM Biosciences
05. Lantheus Medical Imaging Inc.
Market Cap: $4.68B
Founded Year: 1956
Total Employees: ~600
Headquarters: Massachusetts, United States
Stock Exchange: NASDAQ
An American healthcare company, Lantheus Medical discovers and develops imaging diagnostics, targeted therapeutics, and AI-based solutions for the treatment of severe conditions. The company functions under three business segments, including Precision Diagnostics, Radiopharmaceutical Oncology, and Strategic Partnerships
Lantheus offers radiopharmaceutical cancer diagnostics and medicines under its radiopharma divisions, including Azedra (iobenguane I-131), approved for the treatment of Paraganglioma and Locally Progressed or Metastatic Pheochromocytoma
In Feb 2023, Lantheus reported the acquisition of Cerveau Technologies as a step to expand its Imaging Pipeline for Alzheimer’s Disease
04. Bayer
Market Cap: $30.7B
Founded Year: 1863
Total Employees: ~1,01,400
Headquarters: Leverkusen, Germany
Stock Exchange: ETR
A multinational biopharma company, Bayer has been a renowned name in the pharmaceutical sector over the years. The company develops and commercializes therapeutic products targeting therapy areas, including Oncology, Cardiovascular, and kidney diseases
Under its radiopharmaceutical division, Bayer develops a radioactive therapeutic agent, Xofigo, for the treatment of patients with Castration-Resistant Prostate Cancer (mCRPC), Symptomatic Bone Metastases, and Visceral Metastatic Disease
In May 2023, Bayer presented the real-world data from the (REASSURE) clinical trial evaluating Xofigo for the treatment of mCRPC at ASCO 2023
03. RayzeBio (A Subsidiary of BMS)
Market Cap: $102.14B
Founded Year: 2018
Total Employees: ~250
Headquarters: California, United States
Stock Exchange: NYSE
RayzeBio (a subsidiary of BMS) is a clinical-stage radiopharmaceutical company, dedicated to the discovery and development of actinium-based radiopharmaceuticals for the treatment of a wide range of Cancer indications
Lead assets under RayzeBio’s clinical portfolio include RYZ101 (225Ac-DOTATATE) for Extensive Stage Small Cell Lung Cancer (ES-SCLC) and RYZ801 for Hepatocellular Carcinoma (HCC) along with multiple preclinical assets targeting solid tumors
In Dec 2023, RayzeBio signed a definitive merger agreement to be acquired by BMS for an aggregate of $3.6B
02. Novartis
Market Cap: $235.92B
Founded Year: 1996
Total Employees: ~1,02,000
Headquarters: Basel, Switzerland
Stock Exchange: SWX
A multination biopharma company, Novartis discovers and develops pharmaceutical products in Oncology, Hepatology, Immunology, Dermatology, Musculoskeletal Diseases, Neuroscience, and Ophthalmology
Novartis functions under its radiopharmaceutical division through its subsidiary Endocyte, a biopharma company committed to the development of targeted therapies for a personalized approach to Cancer treatment. Pluvicto (177Lu-PSMA-617), a radioligand therapeutic targeting the PSMA in prostate cancer patients, is Endocyte’s lead asset under the radiopharma segment
In Dec 2023, Novartis reported the expansion of its radiopharmaceutical manufacturing network by building a production facility in China through an investment of over $600M
01. POINT Biopharma (A Subsidiary of Eli Lilly and Company)
Market Cap: $726.88B
Founded Year: 2019
Total Employees: N/A
Headquarters: Indiana, United States
Stock Exchange: NYSE
A precision oncology company focussed solely on radiopharmaceuticals; Point Biopharma (a subsidiary of Eli Lilly and Company) is a clinical stage inspired to develop top-grade radioligand therapies
To expand its radiopharma portfolio, Eli Lilly and Company acquired Point Biopharma in 2023. Point Biopharma has an impressive portfolio of candidates, including 177Lu-PNT2002 (P-III), 177Lu-DOTA-TATE (P-III), 177Lu-PNT6555 (P-I), and 225Ac-PNT6555 in the preclinical stage
In Dec 2023, Eli Lilly completed the acquisition of POINT Biopharma
Sources:
Annual reports
SEC Filings
Press releases
Company websites
Market Cap Source: Google Finance (28th Feb 2024)
Currency Conversion: X-Rates (28th Feb 2024)
Note:
All market caps were marked on 28th Feb 2024
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