Business Description

Description of Our Business We are a clinical-stage biopharmaceutical company pioneering the development of targeted radiotherapies to address significant unmet medical needs in oncology. We are focused on employing a biology-driven approach to develop differentiated, first-in-class radiopharmaceutical therapeutics for patients with solid tumors and hematologic malignancies. Our mission is to transform cancer treatment by delivering innovative radioconjugates that maximize therapeutic efficacy while minimizing toxicity to healthy tissue by combining our deep understanding of tumor biology and translational medicine with our expertise in radiochemistry. Since our inception, we have focused on developing innovative and differentiated radiotherapies. Our pipeline of both early and later stage development programs is a testimony to our approach in three areas with: (1) two novel solid tumor product candidates, ATNM-400 and Actimab-A, with pan-tumor potential, (2) Actimab-A, which is also being developed as a therapeutic backbone for acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS) in partnership with the National Cancer Institute (NCI), and (3) two targeted conditioning agents, Iomab-B for bone marrow transplant and Iomab-ACT for cell & gene therapies. Our solid tumor asset, ATNM-400, targets a novel, antigen which does not target PSMA, with demonstrated pre-clinical activity across metastatic castration-resistant prostate cancer (mCRPC), non-small cell lung cancer (NSCLC), and breast cancer. Actimab-A, targets myeloid derived suppressor cells (MDSC’s) and is being studied in multiple solid tumors in combination with immune checkpoint inhibitors where MDSC’s are known to act as an efficacy deterrent for these agents. Our hematology franchise includes: Actimab-A, a CD33-targeted therapy; as well as, Iomab-B and Iomab-ACT which are CD45-targeting conditioning agents. Both Actimab-A and Iomab-B are Phase 2/3 ready assets and are supported by extensive validation in over 15 clinical trials in which more than 500 patients were treated. The radiopharmaceutical therapeutics market has experienced significant growth and validation in recent years. The FDA approval s of Pluvicto ® (177Lu-PSMA-617) for prostate cancer and Lutathera ® (177Lu-DOTATATE) for gastroenteropancreatic neuroendocrine tumors (GEP-NETs) ha ve demonstrated the transformative potential of targeted radiotherapy. Pluvicto ® is the first radiopharmaceutical to achieve blockbuster status and generated approximately $2 billion in sales in 2025 and is forecast by its sponsor Novartis to reach peak sales of $5 billion. Lutathera® is also forecasted to attain blockbuster status by Novartis. 1 Many companies have entered the space, perhaps attracted by the success of the aforementioned products and also the acquisitions of several companies in recent years. However, most companies have focused on just a handful of targets. Consequently, we believe the radiopharmaceutical field remains in its early stages despite the number of companies now developing radiotherapies. This is apparent as a majority of the radiotherapy industry development pipeline is clustered around a handful of biological targets with most companies focused on prostate-specific membrane antigen (PSMA), somatostatin receptor type 2 (SSTR2) antagonists/agonists and variations on the theme (NSTR2, NSTR3, etc), and fibroblast activation protein (FAP). Each of these targets features multiple programs using different targeting moieties including but not limited to peptides, small molecules, antibodies as well as various isotope payloads including beta emitters like Lutetium-177 and alpha emitters such as Actinium-225 and Lead-212. In contrast, we see a significant opportunity to broaden the patient populations benefiting from targeted radiopharmaceuticals by coupling our understanding of tumor biology and translational medicine with our expertise in radiochemistry to develop novel programs against differentiated targets with multi-indication potential. From 2013 to 2023, there was approximately $17 billion in high-value mergers and acquisitions focused on radiopharmaceutical assets, capabilities and infrastructure.…