Aptevo and Niowave Form 50/50 Collaboration to Develop Radiopharmaceutical Cancer Therapies

Aptevo Therapeutics Inc. (NASDAQ: APVO) and Niowave Inc. have entered into a 50/50 strategic collaboration to develop up to three radiopharmaceutical oncology programs, leveraging their respective strengths in tumor targeting and radioisotope production. The partnership marks Aptevo's entry into radiopharmaceutical therapy (RPT), a novel approach that aims to destroy cancer cells directly while sparing healthy tissue, addressing the limitations of conventional cancer treatments that cause collateral damage.

Radiopharmaceutical therapy has garnered significant interest, with over $17 billion in investments, according to estimates compiled by Aptevo. This search-and-destroy method is particularly promising for metastatic cancers that are difficult to treat. However, the field requires better tumor targeting and reliable isotope access to advance. Aptevo brings its multispecific platforms and oncology development expertise, while Niowave contributes radioisotope production, supply, and manufacturing capabilities. To underscore the commitment, Niowave made an equity investment in Aptevo, representing an initial ownership position of 7.9%, with the potential to build an equity stake of up to 19.99%.

“This collaboration will deepen our radiopharmaceutical development capabilities and better position us to support current partners and the broader industry,” said Mike Zamiara, CEO of Niowave. “Our investment reflects our confidence in the opportunity to combine Aptevo’s targeting capabilities with Niowave’s radioisotope production and supply expertise. Together, we expect to help advance new treatment options for patients with difficult-to-treat cancers.”

The collaboration builds on Aptevo's existing pipeline, including a phase 1b clinical trial of mipletamig for acute myeloid leukemia, and expands into the high-growth radiopharmaceutical market. For Niowave, it marks the first entry into therapeutic development beyond isotope manufacture. The companies will initially focus on Nectin-4, a clinically validated cancer target expressed on the surface of solid tumors, applying Aptevo's multispecific engineering capabilities in a new way. The first stage of the collaboration is ready to initiate, with potential catalysts depending on results.

“The collaboration between Aptevo and Niowave reflects a strategic expansion of Aptevo’s development plan, and we are extremely pleased to be working with Niowave,” said Jeff Lamothe, President and CEO of Aptevo. “By combining our targeting approach with Niowave’s isotope capabilities, we are well-positioned to explore new ways to address the complexity of many kinds of cancer.”

The timing aligns with growing interest from Big Pharma in radiopharmaceutical therapies, which have emerged as a clinically validated area of oncology. However, development has been constrained by limited access to critical isotopes and manufacturing infrastructure. Niowave is a leading manufacturer and supplier of isotopes with established relationships across the radiopharmaceutical ecosystem, reinforcing its role as a reliable supply partner. Together, Aptevo and Niowave aim to overcome these limitations and advance new treatment options for patients with high unmet need.

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