Starpharma Advances into Radiopharmaceuticals with Radiopharm Collaboration

Starpharma (ASX: SPL) has entered the radiopharmaceutical arena with a new research and option agreement signed with Radiopharm Theranostics (ASX: RAD, NASDAQ: RADX), marking the company’s first formal partnership in this rapidly advancing field.

The agreement builds on six months of preliminary research under Starpharma’s Star Navigator program, during which both parties explored the integration of Starpharma’s proprietary DEP platform with Radiopharm’s radiotherapeutic molecules. The result is a new collaboration aimed at developing a dendrimer drug conjugate to advance novel cancer therapies.

Under the agreement, Starpharma will receive research and manufacturing service fees as it begins development immediately. Radiopharm has also secured an exclusive option to license the resulting asset. If exercised, Starpharma will receive a A$500,000 option fee, followed by an upfront payment of A$2 million and up to A$89 million in potential milestone payments, as well as royalties on net sales.

The deal highlights the commercial potential of Starpharma’s dendrimer technology in targeted cancer treatment. The DEP platform allows precise delivery of therapeutic payloads, improving drug performance while reducing toxicity — a particularly valuable characteristic in radiotherapy applications.

Chief Executive Officer Cheryl Maley described the agreement as a pivotal milestone for the company.

“This is Starpharma’s first radiopharmaceutical collaboration and the first Star Navigator initiative to progress into a formal research partnership,” said Maley. “It provides external validation of the DEP platform’s potential in radiopharmaceutical development, a space where we see growing industry momentum.”

Maley emphasised that the partnership does not affect Starpharma’s internal pipeline, including its HER2 targeted radiotheranostic program, which remains a core priority. Instead, the deal expands commercial avenues and demonstrates the platform’s flexibility to support multiple partnerships simultaneously.

Radiopharm Theranostics Chief Executive Officer Riccardo Canevari echoed the sentiment, citing the growing complexity and innovation in the radiotherapeutic space.

“We are committed to exploring new mechanisms and delivery approaches,” said Canevari. “Working with Starpharma opens the door to potentially safer and more effective radiopharmaceutical vectors.”

Radiopharm brings a broad pipeline of clinical and preclinical assets across peptide, small molecule and antibody platforms, with active trials targeting cancers of the brain, breast and lung.

Starpharma’s dendrimer platform is already the basis for three clinical stage drug candidates and several over the counter commercial products. The DEP technology is gaining traction for its ability to improve the therapeutic index of oncology drugs and now looks set to enter the radiotherapy market with strong backing.

This collaboration reflects the increasing interest in non traditional cancer modalities and strengthens both companies' positions in a field projected to grow significantly as precision medicine and targeted therapies become the new standard in oncology.