Aptevo Therapeutics Inc. (NASDAQ:APVO), a clinical-stage biotechnology company developing novel multispecific immuno-oncology therapeutics based on its proprietary ADAPTIR™ and ADAPTIR-FLEX™ platform technologies, and Niowave, Inc., a leader in radioisotope production and supply with established partnerships across the radiopharmaceutical ecosystem, today announced a 50/50 strategic collaboration to develop up to three radiopharmaceutical oncology programs.
Niowave made an at-the-market equity investment in Aptevo at closing, representing an initial ownership position of 7.9%,[1] with the potential to build a meaningful equity stake of up to 19.99% through warrant exercises at a premium to the initial purchase and future purchases of Aptevo common stock. This structure aligns incentives between the two organizations and supports the long-term advancement of the collaboration.