B. Riley Securities, a middle market investment bank, led a $46.9 million financing for Radiopharm Theranostics, an ASX-listed clinical stage biotechnology company developing targeted radiopharmaceutical therapies and diagnostics for multiple types of cancer. The financing consisted of a $4.99 million strategic investment and a $41.9 million institutional placement.
B. Riley acted as financial advisor to RAD and facilitated the strategic investment, asset rights and development agreement with Lantheus, an ASX-listed clinical stage biopharmaceutical company that develops and commercializes products for imaging, cardiology and endocrinology. B. Riley also led the placement financing.
“We are excited to partner with RAD, helping them continue their important work developing the next generation of targeted radiotherapies and diagnostics to fight cancer,” Patrice McNicoll, co-head of investment banking at B. Riley Securities, said. “We were able to leverage our expertise within radiopharma, in addition to strategic and investor relationships, to effectuate a transformative transaction. The capital we helped RAD raise fully funds the pipeline through multiple clinical data readouts.”
B. Riley’s investment banking team was led by Patrice McNicoll, Matt Feinberg, Brian Taylor, Melissa Woodson and Daniel Lewis, and included Connor Boyle and Noah Rich. B. Riley’s capital markets team was led by Chad Ritchie and included Dawn Farrell, Kathy Innis and Sam Cook.
