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 already seen over $17 billion in investments. The partnership combines Aptevo's expertise in multispecific antibody platforms with Niowave's radioisotope production and supply capabilities, addressing two critical needs in the radiopharmaceutical therapy (RPT) field: better tumor targeting and reliable isotope access.
Radiopharmaceutical therapy represents a novel approach to treating metastatic cancers by targeting cancer cells directly while sparing healthy tissue, unlike conventional therapies that cause significant collateral damage. The field has garnered substantial interest from Big Pharma, with major investments flowing into emerging radiopharmaceutical companies. However, development has been constrained by limited access to critical isotopes and manufacturing infrastructure. Niowave, a leading manufacturer and supplier of isotopes with established relationships across the radiopharmaceutical ecosystem, brings essential supply capabilities to the collaboration.
Under the terms of the agreement, Aptevo will contribute assets from its proprietary multispecific antibody platforms, including targeting assets directed against Nectin-4, a clinically validated cancer target with broad relevance across solid tumors. Niowave will provide radioisotopes and related manufacturing and supply capabilities, including actinium-225 and additional radioisotopes. The companies have designed and are already ready to initiate the first stage of the collaboration, which will inform next steps and future development.
To underscore their commitment, Niowave has 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 at a premium to the initial purchase and future purchases of Aptevo common stock. This investment reflects Niowave's confidence in the opportunity to combine Aptevo's targeting capabilities with its own radioisotope expertise.
“This collaboration will deepen our radiopharmaceutical development capabilities and better position us to support current partners and the broader industry,” said Mike Zamiara, Chief Executive Officer of Niowave. “Our investment reflects our confidence in the opportunity to combine Aptevo’s targeting capabilities with Niowave’s radioisotope production and supply expertise. Together, we expect to help advance new treatment options for patients with difficult-to-treat cancers.”
The collaboration marks Aptevo's entrance into radiopharmaceutical-based therapeutic development, expanding beyond its current focus on multispecific immuno-oncology therapeutics. The company is already involved in a phase 1b clinical trial of mipletamig for acute myeloid leukemia (AML). For Niowave, the partnership represents its first entry into therapeutic development, extending beyond radioisotope manufacture and supply.
“The collaboration between Aptevo and Niowave reflects a strategic expansion of Aptevo’s development plan, and we are extremely pleased to be working with Niowave,” said Jeff Lamothe, President and Chief Executive Officer of Aptevo. “We have established a strong foundation and clinical proof-of-concept with our multispecific assets, and this partnership enables us to extend that capability into radiopharmaceuticals, an increasingly important area of therapeutic development in oncology. 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.”
For leaders in business and technology, this collaboration highlights the growing importance of radiopharmaceutical therapies in oncology and the strategic moves by smaller, innovation-driven companies to fill gaps left by Big Pharma. The partnership could accelerate the development of targeted cancer treatments with fewer side effects, potentially reshaping the treatment landscape for metastatic cancers. As the radiopharmaceutical therapy market gains momentum, Aptevo and Niowave's combined capabilities may position them to capitalize on a high-growth area, provided their initial programs yield promising results.
