Aptevo and Niowave Partner to Advance Radiopharmaceutical Cancer Therapies
Aptevo Therapeutics and Niowave Inc. have formed a 50/50 strategic collaboration to develop up to three radiopharmaceutical oncology programs, combining Aptevo's targeting platforms with Niowave's isotope supply capabilities to address a $17 billion market.
Two companies are joining forces to tackle one of oncology's most promising yet supply-constrained fields: radiopharmaceutical therapy. Aptevo Therapeutics Inc. (NASDAQ: APVO), a clinical-stage biotechnology company, and Niowave Inc., a radioisotope producer, have announced a 50/50 strategic collaboration to develop up to three radiopharmaceutical oncology programs. The partnership aims to combine Aptevo's multispecific antibody platforms with Niowave's radioisotope production and supply expertise, targeting a market that has already attracted over $17 billion in investments, according to Aptevo's estimates.
Radiopharmaceutical therapy (RPT) works by delivering a radioactive payload directly to cancer cells, sparing healthy tissue from the collateral damage associated with conventional treatments. The approach is particularly relevant for metastatic cancers that have spread throughout the body. However, the field has been held back by two key challenges: the need for better tumor targeting and reliable access to isotopes. Aptevo brings its ADAPTIR™ and ADAPTIR-FLEX™ platforms, which are designed to create precise, multi-specific antibodies that engage the immune system to selectively attack tumors. Niowave, meanwhile, offers expertise in manufacturing and supplying radioisotopes, including actinium-225, in a market where supply constraints have limited development.
Under the terms of the agreement, Aptevo will contribute targeting assets directed against Nectin-4, a clinically validated cancer target expressed on the surface of solid tumor cells. Niowave will provide radioisotopes and related manufacturing capabilities. The companies have already designed the first program and are ready to initiate the initial stage, which will inform future development. To underscore its commitment, Niowave 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.
“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, in a statement. “Our investment reflects our confidence in the opportunity to combine Aptevo’s targeting capabilities with Niowave’s radioisotope production and supply expertise.”
The partnership marks Aptevo's entry into radiopharmaceutical development, expanding beyond its existing phase 1b clinical trial of mipletamig for acute myeloid leukemia. For Niowave, it represents a first foray into therapeutic development, extending its role beyond isotope supply. The timing may be opportune, as Big Pharma has been investing heavily in emerging radiopharmaceutical companies, highlighting the need for innovative platforms and reliable isotope access that smaller players can provide.
“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. “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 radiopharmaceutical therapy market, despite significant investment, has been limited by supply constraints and the need for precise targeting. Aptevo and Niowave aim to overcome these hurdles, potentially offering new treatment options for patients with difficult-to-treat cancers. The collaboration's first program targeting Nectin-4 builds on an established target while applying Aptevo's engineering capabilities in a novel way. To learn more about Aptevo, click here.