Top 20 Radiopharma Companies of 2024 Based on Market Cap

Shots:

With diverse applications in diagnostic imaging, theragnostics, and targeted therapy, radiopharmaceuticals are gradually tapping into an ocean of unlimited opportunities
By 2030, the radiopharmaceutical market size is expected to grow to $12.18B. In 2023, POINT Biopharma topped the list among radiopharma companies with a market cap of $726.88B followed by Novartis with a market cap of $235.92B, RayzeBio with $102.14B
PharmaShots brings a condensed report on the Top 20 Radiopharma Companies based on Market Cap.

20. Radiopharm Theranostics

Market Cap: $14.4M

Founded Year: 2021

Total Employees: ~50

Headquarters: Victoria, Australia

Stock Exchange: ASX

Radiopharm Theranostic is an Australian biotech company indulged in the pre-clinical or clinical-stage development of radiopharmaceuticals for the diagnosis and treatment of various indications, including cancer
The company has a vast pipeline of products under clinical development, including RAD101 for Brain Metastases and RAD301 for Pancreatic Cancer. Moreover, under its pre-clinical development pipeline, the company currently has RAD202 for Breast and Gastric Cancer, RAD402 for Prostate Cancer, RAD206 for Breast and Lung Cancer, etc.
In Mar 2023, Radiopharm reported the acquisition of Pharma15 Corp

19. OncoTherapy Science

Market Cap: $28.9M

Founded Year: 2001

Total Employees: ~60

Headquarters: Kawasaki, Japan

Stock Exchange: TYO

OncoTherapy Science discovers and develops molecular-targeted anti-cancer drugs, cancer therapies, and cancer-specific serum diagnostic markers to improve clinical benefits among patients. The company develops its products using cancer-specific genes highly expressed in cancer cells
The company develops a variety of products including, low molecular drugs, antibody drugs, cancer peptide vaccines, and diagnostic medicines. OncoTherapy had earlier reported a significant anti-cancer activity of OTSA101 in mouse xenograft models
Moreover, in terms of its radio pharma business, the company is currently developing OTSA101, an anti-FZD10 antibody that specifically binds to FZD10 in cancer cells, for the treatment of Synovial Sarcoma

18. QSam Biosciences

Market Cap: $29.4M

Founded Year: 2004

Total Employees: ~4

Headquarters: Texas, United States

Stock Exchange: OTCMKTS

A clinical-stage biotech company, QSam Biosciences develops and commercializes targeted therapeutic radiopharmaceuticals for the treatment of cancers in adults and paediatric patients
CycloSam (Samarium-153 DOTMP), a bone-targeting radiopharmaceutical developed by Iso Therapeutics, is among the company’s lead radiopharma assets. The company is currently evaluating CycloSam under clinical trial for the treatment of bone cancer and related diseases
In Nov 2023, Telix Pharmaceuticals signed a conditional term sheet to acquire QSam Biosciences for its lead asset CycloSam

17. Perseus Proteomics

Market Cap: $34.4M

Founded Year: 2001

Total Employees: ~20

Headquarters: Tokyo, Japan

Stock Exchange: TYO

A subsidiary of FUJIFILM Corporation, Perseus Proteomics' primary business idea is to discover and develop monoclonal antibodies. The company leverages the hybridoma method (animal immunes) and the phase display method (human antibodies) to develop antibodies for a wide range of indications
Currently, the company’s pipeline focuses on the development of PPMX-T002 and PPMX-T004, both of which are anti-cancer drugs with an antibody targeting CDH3 connected with a radioisotope yttrium 90 (90Y). Moreover, the company is also indulged in developing PPMX-T003 for Blood Cancers, including Polycythaemia Vera and Aggressive NK-Cell Leukaemia
In Dec 2023, Perseus Proteomics reported the P-I clinical trial results evaluating the safety and efficacy of PPMX-T003 in Polycythaemia Vera patients

16. Thor Medical

Market Cap: $41.5M

Founded Year: 2017

Total Employees: ~31

Headquarters: Oslo, Norway

Stock Exchange: OSE

A biotech company, Thor Medical, develops and commercializes alpha-particle emitters as a therapy for the treatment of cancer. The company develops these products by separating the naturally occurring radioactive decay products from Thorium (Th-232)
The company leverages its technology to develop radioactive products. Thor Medical is indulged in the business of supplying alpha-emitters to companies developing radiopharmaceuticals for tumor-targeted cancer therapies
In Jun 2023, Thor Medical signed a definitive share exchange agreement with Nordic Nanovector to combine the two companies in an all-share transaction. Nordic Nanovector is known for its antibody-radionuclide conjugates with lead assets including Betalutin, a novel CD37-targeting antibody-radionuclide-conjugate being developed for the treatment of patients with NHL

15. CASI Pharmaceuticals

Market Cap: $77.5M

Founded Year: 1991

Total Employees: ~200

Headquarters: Beijing, China

Stock Exchange: NASDAQ

A US-based pharmaceutical company, CASI Pharmaceuticals is a renowned biopharma company that develops and commercializes pharmaceutical therapies across the globe, including the US and China
Zevalin, a CD20-directed radiotherapeutic antibody, is a lead asset to the company developed under the radiopharma segment. Earlier in Feb 2019, CASI Pharmaceuticals received the exclusive license to Zevalin from Acrotech Biopharma
In Jul 2023, CASI Pharmaceuticals reported the acquisition of all rights and global intellectual property rights to Cleave Therapeutics’ CB-5339, a novel VCP/p97 inhibitor

14. Cellectar Biosciences

Market Cap: $117.5M

Founded Year: 1996

Total Employees: ~15

Headquarters: New Jersey, United States

Stock Exchange: NASDAQ

A late clinical-stage biopharma company, Cellectar Biosciences is a company that discovers and develops proprietary drugs through its Phospholipid Drug Conjugate (PDC) delivery platform
The company mainly targets cancer indications by developing PDC targeting cancer cells to deliver an effective and safe off-target effect. Under its product pipeline, the company has CLR 131, a small-molecule PDC designed to provide targeted delivery of iodine-131 (radioisotope) directly to cancer cells along with proprietary preclinical PDC chemotherapeutic programs and multiple partnered PDC assets
In Oct 2023, Cellectar secured four patents for its PDC delivery platform and iopofosine (131I) across Europe, Australia, and Canada

13. Dong Wha Pharmaceutical

Market Cap: $204.8M

Founded Year: 1897

Total Employees: ~800

Headquarters: Seoul, Korea

Stock Exchange: KRX

Dong Wha Pharmaceutical is a Korean pharma company that discovers and develops pharmaceutical products covering therapy areas, including antipyretics, analgesics, and antibiotics for cardiovascular, dermatological, and alimentary ailments
As an asset under its radiopharma business, the company is currently developing Milican (DW-166HC) injections for Hepatocellular Carcinoma and Haemophiliac Arthritis
In Aug 2023, Dong Wha Pharma reported the acquisition of TRUNG SON Pharma, a Vietnamese Pharmacy Chain, for an aggregate of ~$301M

12. Actinium Pharmaceuticals

Market Cap: $222.6M

Founded Year: 2000

Total Employees: ~50

Headquarters: New York, United States

Stock Exchange: NYSE

A clinical stage targeted radiotherapy company; Actinium Pharmaceuticals focuses on developing therapeutics for patients with unmet needs. Strengthened by its Antibody Warhead Enabling (AWE) technology Platform, the company manages to produce highly selective and potent antibody radiation conjugates
Actinium's lead candidate is Iomab-B (CD45) (apamistamab-I-131) currently in P-III, indicated for BMT conditioning. In P-I, Actinium has Iomab-ACT (CD45), Actimab-A (CD33) and CLAG-M, Actimab-A (CD33) and Venetoclax, Actimab-A (CD33) and Venetoclax with HMA.
In Feb 2023, Actinium Pharmaceuticals signed a Cooperative Research and Development Agreement (CRADA) with the NCI to develop Actimab-A for the treatment of Acute Myeloid Leukaemia (AML) and other Hematologic Malignancies

11. Clarity Pharmaceuticals

Market Cap: $503.6M

Founded Year: 2010

Total Employees: ~40

Headquarters: Sydney, Australia

Stock Exchange: ASX

A clinical stage radiopharma company, Clarity Pharmaceuticals discovers and develops radiopharmaceuticals for the treatment of various therapy areas with Oncology as its primary focus
Targeted Copper Theragnostic (TCT) is the company’s lead asset developed based on its SAR Technology Platform for the treatment of children and adults with cancer. Clarity’s pipeline is lined up with a series of products for the treatment of various indications including Prostate Cancer (SAR-bisPSMA, SAR-BBN) and Neuroblastoma (SARTATE)
In Apr 2023, Clarity Pharmaceuticals received $6.7M as R&D Tax Incentive Refund as part of the Australian Federal Government’s R&D Tax Incentive Program

10. Fusion Pharmaceuticals

Market Cap: $917.4M

Founded Year: 2014

Total Employees: ~100

Headquarters: Ontario, Canada

Stock Exchange: NASDAQ

A clinical-stage biopharma company, Fusion Pharmaceuticals is committed to developing radiopharmaceuticals in the form of precision medicines. Targeted Alpha Therapies (TAT) is a platform that develops radiopharmaceuticals by conjugating alpha particle emitting isotopes to various targeting molecules to deliver alpha particle payload to tumors selectively
[225Ac]-FPI-1434 (FPI-1434) is a lead asset under Fusion’s clinical pipeline, developed by combining an antibody, IGF-1R, with its Fast-Clear linked technology to create a TAT for utility across multiple tumor types
In Feb 2023, Fusion Pharmaceuticals reported the acquisition of RadioMedix’s IND application for the P-II (TATCIST) clinical trial evaluating 25Ac-PSMA I&T for the treatment of Prostate Cancer

09. Jubilant Pharma

Market Cap: $1.06B

Founded Year: 1978

Total Employees: ~1,034

Headquarters: Uttar Pradesh, India

Stock Exchange: NSE

A multinational pharmaceutical company specializing in a wide range of products and services, Jubilant Pharma holds a reputable position among radiopharmaceutical companies. With four manufacturing facilities in North America and two in India, Jubilant has a widespread customer base in 80 countries
Jubilant divides its business into three segments viz. Speciality Pharmaceuticals, CDMO, and Generics. Jubilant's approved products are RUBY-FILL, HICON, DRAXIMAGE, SMART-FILL, and Lyophilized kits, including MDP/MDP-25, MAA, DTPA, Sestamibi, and Gluceptate
In Jun 2023, Jubilant Radiopharma’s RUBY Rubidium Elution System and RUBY-FILL (Rubidium Rb82 generator) received the US FDA’s approval for the evaluation of regional myocardial perfusion in patients

08. Eczacıbaşı-Monrol

Market Cap: $1.1B

Founded Year: 1951

Total Employees: ~13,000

Headquarters: Istanbul, Turkey

Stock Exchange: IST

A global radiopharmaceutical company, Eczacıbaşı-Monrol develops and manufactures GMP grade radioisotopes and radiopharmaceuticals. Under its radiotherapy segment, the company develops, manufactures, and distributes LUTETIUM (177LU) CHLORIDE N.C.A and LUTETIUM (177LU) CHLORIDE C.A for cancer treatment
The company divides its wide range of products into four categories viz. Theragnostic, Pet Products, Spect Products, and Cold Kits
In Sep 2023, Eczacıbaşı-Monrol reported its decision to invest $37.59M to increase its production capacity for non-carrier-added Lutetium-177 (n.c.a. Lu-177) as a step to fulfil the growing global demand for this product

07. PeptiDream

Market Cap: $1.4B

Founded Year: 2006

Total Employees: ~713

Headquarters: Kanagawa, Japan

Stock Exchange: TYO

A Japanese biopharma company, PeptiDream discovers and develops functional peptide therapeutics for the treatment of diseases with unmet needs
PeptiDream entered the business of radiopharmaceuticals by acquiring all the outstanding shares of the FUJIFILM Toyama Chemical, a subsidiary of Fujifilm Corporation indulged in the business of radiopharmaceuticals. The acquisition brought eight undisclosed radiopharma therapeutic products under PeptiDream’s pipeline for the treatment of Thyroid, Non-Hodgkin's Lymphoma, and Pheochromocytoma/Paraganglioma
In Sep 2023, PeptiDream entered into a collaboration and license agreement with Genentech to discover and develop novel macrocyclic peptide-radioisotope drug conjugates

06. Telix Pharmaceuticals

Market Cap: $2.5B

Founded Year: 2015

Total Employees: ~230

Headquarters: Melbourne, Australia,

Stock Exchange: ASX

A clinical-stage biopharma company, Telix Pharmaceuticals develops and commercializes diagnostic and therapeutic radiopharmaceuticals
The company’s pipeline contains a broad range of products including TLX591 (177Lu–rosopatamab), TLX592 (225Ac–RADmAb), TLX250 (177Lu–girentuximab), TLX101 (131I-IPA), and TLX66 (90Y-besilesomab) covering therapy areas including Prostate, Kidney, Brain, Blood, and Bone Marrow Cancers
In Nov 2023, Telix Pharmaceuticals signed a conditional term sheet to acquire QSAM Biosciences

05. Lantheus Medical Imaging Inc.

Market Cap: $4.7B

Founded Year: 1956

Total Employees: ~600

Headquarters: Massachusetts, United States

Stock Exchange: NASDAQ

An American healthcare company, Lantheus Medical discovers and develops imaging diagnostics, targeted therapeutics, and AI-based solutions for the treatment of severe conditions. The company functions under three business segments, including Precision Diagnostics, Radiopharmaceutical Oncology, and Strategic Partnerships
Lantheus offers radiopharmaceutical cancer diagnostics and medicines under its radiopharma divisions, including Azedra (iobenguane I-131), approved for the treatment of Paraganglioma and Locally Progressed or Metastatic Pheochromocytoma
In Feb 2023, Lantheus reported the acquisition of Cerveau Technologies as a step to expand its Imaging Pipeline for Alzheimer’s Disease

04. Bayer

Market Cap: $30.7B

Founded Year: 1863

Total Employees: ~1,01,400

Headquarters: Leverkusen, Germany

Stock Exchange: ETR

A multinational biopharma company, Bayer has been a renowned name in the pharmaceutical sector over the years. The company develops and commercializes therapeutic products targeting therapy areas, including Oncology, Cardiovascular, and kidney diseases
Under its radiopharmaceutical division, Bayer develops a radioactive therapeutic agent, Xofigo, for the treatment of patients with Castration-Resistant Prostate Cancer (mCRPC), Symptomatic Bone Metastases, and Visceral Metastatic Disease
In May 2023, Bayer presented the real-world data from the (REASSURE) clinical trial evaluating Xofigo for the treatment of mCRPC at ASCO 2023

03. RayzeBio (A Subsidiary of BMS)

Market Cap: $102.1B

Founded Year: 2018

Total Employees: ~250

Headquarters: California, United States

Stock Exchange: NYSE

RayzeBio (a subsidiary of BMS) is a clinical-stage radiopharmaceutical company, dedicated to the discovery and development of actinium-based radiopharmaceuticals for the treatment of a wide range of Cancer indications
Lead assets under RayzeBio’s clinical portfolio include RYZ101 (225Ac-DOTATATE) for Extensive Stage Small Cell Lung Cancer (ES-SCLC) and RYZ801 for Hepatocellular Carcinoma (HCC) along with multiple preclinical assets targeting solid tumors
In Dec 2023, RayzeBio signed a definitive merger agreement to be acquired by BMS for an aggregate of $3.6B

02. Novartis

Market Cap: $235.5B

Founded Year: 1996

Total Employees: ~1,02,000

Headquarters: Basel, Switzerland

Stock Exchange: SWX

A multination biopharma company, Novartis discovers and develops pharmaceutical products in Oncology, Hepatology, Immunology, Dermatology, Musculoskeletal Diseases, Neuroscience, and Ophthalmology
Novartis functions under its radiopharmaceutical division through its subsidiary Endocyte, a biopharma company committed to the development of targeted therapies for a personalized approach to Cancer treatment. Pluvicto (177Lu-PSMA-617), a radioligand therapeutic targeting the PSMA in prostate cancer patients, is Endocyte’s lead asset under the radiopharma segment
In Dec 2023, Novartis reported the expansion of its radiopharmaceutical manufacturing network by building a production facility in China through an investment of over $600M

01. POINT Biopharma (A Subsidiary of Eli Lilly and Company)

Market Cap: $726.9B

Founded Year: 2019

Total Employees: N/A

Headquarters: Indiana, United States

Stock Exchange: NYSE

A precision oncology company focussed solely on radiopharmaceuticals; Point Biopharma (a subsidiary of Eli Lilly and Company) is a clinical stage inspired to develop top-grade radioligand therapies
To expand its radiopharma portfolio, Eli Lilly and Company acquired Point Biopharma in 2023. Point Biopharma has an impressive portfolio of candidates, including 177Lu-PNT2002 (P-III), 177Lu-DOTA-TATE (P-III), 177Lu-PNT6555 (P-I), and 225Ac-PNT6555 in the preclinical stage
In Dec 2023, Eli Lilly completed the acquisition of POINT Biopharma

Sources: