--- title: "Aptevo and Niowave launch 50/50 radiopharmaceutical collaboration" url: "https://aibio.space/news/aptevo-niowave-launch-50-50-radiopharmaceutical-collaboration/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-05-27" section: "Financings" tickers: "NASDAQ:APVO" source: "https://www.sec.gov/Archives/edgar/data/1671584/000119312526241867/apvo-ex99_1.htm" summary: "Aptevo and Niowave agreed to a 50/50 collaboration to develop up to three radiopharmaceutical oncology programs, with Niowave making an at-the-market equit" --- By the aibio.space news desk. Sources - [Aptevo Therapeutics Inc. 8-K (2026-05-27)](https://www.sec.gov/Archives/edgar/data/1671584/000119312526241867/apvo-ex99_1.htm) - [Aptevo Therapeutics Inc. 10-K (2026-03-26): business](https://www.sec.gov/Archives/edgar/data/1671584/000119312526126278/apvo-20251231.htm) - [Aptevo Therapeutics Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1671584/000119312526126278/) [APVO](https://aibio.space/companies/aptevo-therapeutics/) 2026-05-27 # Aptevo and Niowave launch 50/50 radiopharmaceutical collaboration Tickers [APVO](https://aibio.space/companies/aptevo-therapeutics/) Aptevo and Niowave agreed to a 50/50 collaboration to develop up to three radiopharmaceutical oncology programs, with Niowave making an at-the-market equity investment at closing. ## Key facts - **Company**: Aptevo Therapeutics Inc. (NASDAQ: APVO) - **News type**: Financings - **Primary source**: [Aptevo Therapeutics Inc. 8-K (2026-05-27)](https://www.sec.gov/Archives/edgar/data/1671584/000119312526241867/apvo-ex99_1.htm) *Traders on the NYSE floor, 1963. Photo: Thomas J. O'Halloran, public domain, via Wikimedia Commons. The picture shows the field, not the companies named.* Aptevo Therapeutics Inc. and Niowave, Inc. said on May 27, 2026 that they have agreed to 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. The release is an [exhibit to an 8-K](https://www.sec.gov/Archives/edgar/data/1671584/000119312526241867/apvo-ex99_1.htm). ## The equity investment and the terms The release says Niowave's investment represents an initial ownership position of 7.9%. That figure is based on Aptevo's shares outstanding as of May 13, 2026, as reported in its most recent quarterly filing, and assumes no exercise at closing of the warrants Niowave acquired. Niowave may build a stake of up to 19.99% through warrant exercises at a premium to the initial purchase price and through future purchases of Aptevo common stock. Under the agreement, Aptevo will contribute assets from its proprietary multispecific antibody platforms, beginning with targeting assets directed against Nectin-4, along with associated development expertise. Niowave will provide radioisotopes and related manufacturing and supply capabilities, including Actinium-225 and additional radioisotopes. Neither the release nor the 8-K itself names an underwriter, placement agent or financial advisor for the equity investment. The release gives no dollar amount for the investment, no share price and no warrant terms. ## Why the companies say they partnered Jeff Lamothe, President and Chief Executive Officer of Aptevo, said the collaboration is a strategic expansion of Aptevo's development plan. He said the company had established clinical proof-of-concept with its multispecific assets and that the partnership extends that capability into radiopharmaceuticals. Lamothe's claim of clinical proof-of-concept is the company's own. Lamothe also said: "Niowave brings critical expertise in radioisotope production and supply, which is essential to advancing this class of therapies." Mike Zamiara, Chief Executive Officer of Niowave, said the investment reflects confidence in combining Aptevo's targeting capabilities with Niowave's radioisotope production and supply expertise. The release describes Niowave's first investment in a therapeutic development program. The release calls the deal Aptevo's expansion into radiopharmaceutical-based therapeutic development, a potential high-growth and increasingly validated area of oncology. It notes multi-billion-dollar transactions in other radiopharmaceutical companies by large pharmaceutical companies; none involves Aptevo. The release says radiopharmaceutical therapies deliver targeted radiation directly to tumor cells and are increasingly developed in combination with immunotherapy. It says development has been constrained by limited access to critical isotopes and manufacturing infrastructure, as well as the need for effective targeting strategies. Nectin-4 is described as a clinically validated cancer target with broad relevance across solid tumors. ## The company and its financial position Aptevo describes itself as a clinical-stage biotechnology company developing bispecific and trispecific immunotherapies for cancer. The company has two clinical candidates and six preclinical candidates, all created from its ADAPTIR and ADAPTIR-FLEX platforms. Its 10-K describes the lead clinical candidate, mipletamig, as a CD123xCD3 T cell engager being evaluated in the RAINIER trial. The XBRL data show research and development expense of $14.5 million for 2025, compared with $14.4 million for 2024. The net loss was $26.0 million in 2025 and $24.1 million in 2024. Operations used $25.6 million of cash in 2025 and $23.8 million in 2024. Year-end 2024 cash and cash equivalents were $8.7 million. ## What the deal leaves open The release names no program, indication, budget or timeline, and shows no data for any radiopharmaceutical built from Aptevo's assets. It says development of this class has been constrained by limited access to isotopes and manufacturing infrastructure, which Niowave is meant to address, but it does not say they are solved. Under a 50/50 structure Aptevo gives up half of the programs it starts, and the release does not estimate its share of costs. The equity side cuts both ways. Fresh money helps a company that used $25.6 million of cash in operations in 2025, yet a stake that can rise to 19.99% through warrants and further purchases means dilution for other shareholders and a partner with real influence. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story APVO Aptevo Therapeutics Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/aptevo-niowave-launch-50-50-radiopharmaceutical-collaboration/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Aptevo and Niowave launch 50/50 radiopharmaceutical collaboration", 2026-05-27, https://aibio.space/news/aptevo-niowave-launch-50-50-radiopharmaceutical-collaboration/