Point Pharma Inc., a late-stage biopharmaceutical company focused on bringing precision radiopharmaceutical therapies to patients with cancer, and Therapeutics Acquisition Corp., d/b/a Research Alliance Corp. I, a special purpose acquisition company sponsored by RA Capital Management, have agreed to combine. Upon closing of the business combination, RACA will be renamed Point Biopharma Global Inc., and its common stock is expected to be listed on the Nasdaq Capital Market under the ticker symbol “PNT.”

Point’s management team will lead the combined company post-closing, and CEO Joe McCann will serve as the chief executive officer of the combined company. David Lubner, one of the directors of RACA, will be joining the board of directors of the combined entity.

A group of investors has committed to participate in the transaction through a common stock PIPE of approximately $165 million at $10.00 per share. Investors in the PIPE include lead investor RA Capital Management, an affiliate of RACA’s sponsor, as well as Johnson & Johnson Innovation, Surveyor Capital, Farallon Capital Management LLC, BVF Partners LPBoxer CapitalSphera Healthcare, Woodline Partners LPSuvretta Capital, Fairmount Funds, and Perceptive Advisors.

“It is an incredibly exciting time for radiopharmaceuticals,” said McCann. “Innovations in isotope production, combined with advancements in tumor targeting is enabling the creation of next-generation precision oncology medicines, some of which have already demonstrated greater efficacy with less side effects than the previous standard of care. With the funds raised from this transaction, Point will be well financed to complete our two Phase 3 trials for radioligands to treat prostate and neuroendocrine cancers, advance our early-stage pipeline, and complete construction on our manufacturing facility in Indianapolis, Indiana. I am excited by how strongly Point is now positioned to deliver on its mission of making radioligand therapy applicable to more cancers and available to more people, thereby improving the lives of cancer patients and their families everywhere.”

“We are excited to have the opportunity to support the POINT team in their mission to bring their pipeline of alpha- and beta-emitting radioligand therapies to patients living with cancer,” said Peter Kolchinsky, CEO of RACA and Managing Partner at RA Capital Management. “Radiopharmaceuticals are complex drug products that literally blast through cancer cells and can lead to cures but require deep expertise to develop and substantial infrastructure investments to manufacture. We believe the POINT team has this expertise and with this transaction will have the capital it needs to deliver on the promise of their technologies.” 

Perella Weinberg Partners LP is acting as lead financial and capital markets advisor to Point.  Cowen and Company LLC and Piper Sandler are also acting as capital markets advisors to Point. Jefferies LLC is acting as lead financial and capital markets advisor to RACA. Bass, Berry & Sims PLC is acting as lead legal counsel to Point. Goodwin Procter LLP is acting as lead legal counsel to RACA.