Boston firm to build manufacturing facility on Wasatch Group campus

Ratio Therapeutics Inc., a pharmaceutical company using new technology to develop radiopharmaceuticals for cancer treatment and monitoring, has entered into an agreement with the Medical Innovation Technology Management (MIT) division of Salt Lake City’s Wasatch Group to partner and construct a radiopharmaceutical research and manufacturing facility in Utah.

The Boston firm expects the plant to be fully operational in the second half of 2027.

The 65,000-square-foot manufacturing facility will support vertical integration of Ratio’s current and future pipeline of next-generation radiopharmaceuticals, with the capacity to efficiently scale manufacturing for future commercial needs as Ratio advances its candidates through clinical trials, the company said. The facility will enable end-to-end production capabilities while allowing the company to leverage the region’s robust radiopharmaceutical supply network and proximity to an international airport with central North American access, positioning Ratio to meet the supply chain demands of radiopharmaceutical development and commercialization.

“Ratio is excited to partner with Wasatch, who is ambitiously driving our field forward. With our pipeline advancing rapidly, securing a strategic manufacturing footprint is crucial to our long-term vision,” said Jack Hoppin, chairman and CEO of Ratio. “This facility not only places us near potential suppliers, such as Nusano, but also provides the infrastructure needed to meet future manufacturing demands at commercial scale and represents a major step toward Ratio's mission of developing and rapidly transitioning innovative radiopharmaceuticals to the clinic.”

“We are thrilled to welcome Ratio Therapeutics as the first tenant in our Medical Innovation Technology Research and Development Park, which we designed specifically to foster the medical breakthroughs of tomorrow,” said Tanner J.M. Bowman, president of MIT Management. “Ratio’s cutting-edge work in radiopharmaceuticals perfectly aligns with our vision for this innovation hub. This partnership not only brings high-quality jobs to Salt Lake Valley but also strengthens Utah’s growing reputation as a center for health care innovation. We’re proud to provide the environment that will help Ratio deliver life-changing cancer treatments to patients in need.”

The 33-year-old Wasatch Group builds businesses that span commercial and multi-family residential real estate development and management, medical technology, property innovation, consumer products manufacturing and venture capital. Its Medical Innovation Technology Campus is home to a range of startup companies, medical labs and research facilities, all in close proximity to the University of Utah and other health care companies.