Ratio Therapeutics, Inc., a clinical-stage pharmaceutical company developing radiopharmaceuticals for cancer treatment, has closed a $70 million Series C financing.
The round included participation from existing investors Duquesne Family Office and Bristol Myers Squibb, alongside new investors Catalio Capital Management, Eli Lilly and Company and Wasatch Group.
The company expects to use the proceeds to advance its ongoing ATLAS study evaluating lead radiotherapeutic asset [Ac-225]RTX-2358 in advanced sarcomas, and to move its next-generation candidate into the clinic. It also plans to expand its discovery pipeline into additional oncology targets and to scale manufacturing capability.
"This financing reflects the confidence our investors and strategic partners have in the progress we have made to date and the opportunities that lie ahead," said Dr Jack Hoppin, chief executive of Ratio Therapeutics. "As we march the ATLAS trial forward and prepare for our 5th IND filing, these proceeds are instrumental across the development and ultimately the supply of our targeted and PK-optimized radiopharmaceuticals."
"Ratio is a leader in radiopharmaceutical innovation and it has backed up science with execution — hitting clinical milestones, deepening strategic partnerships, and building the manufacturing infrastructure this modality demands," said Sue Meng, managing director of Duquesne Family Office.
The round is a clear example of a large single-family office investing directly alongside strategic corporate investors in clinical-stage biotechnology. Direct participation of this kind requires scientific diligence capability in-house or through trusted co-investors — one of the recurring structural questions for family offices building healthcare and longevity exposure.
UKFOS Editorial · 4 AUGUST 2026