Curasight A/S

What Curasight A/S does

Curasight A/S is a Danish clinical-stage radiopharmaceutical company developing a theranostics platform centered on the urokinase-type plasminogen activator receptor (uPAR), a protein expressed in more than 85% of solid tumors and implicated in tumor invasion, angiogenesis, and metastasis. Its two lead assets share the proprietary AE105 targeting ligand: uTRACE®, a uPAR-PET diagnostic imaging agent evaluated in more than 450 patients across nine Phase II trials in eight solid tumor indications, and uTREAT®, a first-in-class uPAR-targeted radioligand therapy administered via super-selective intra-arterial catheter injection with mannitol blood-brain barrier opening in brain indications. Lead clinical programs are a Phase 1 trial in glioblastoma (first patient dosed December 2025 with encouraging preliminary safety and uptake data) and a Phase 2 prostate cancer imaging trial run with Curium Inc. under an exclusive global license signed May 2023.

The company's business model is pre-commercial and license-driven. Curasight has no marketed products; future revenue is expected from product sales and licensing royalties following regulatory approval, with the Curium partnership serving as the template for asset-light commercialization in non-core indications. The company is listed on Spotlight Stock Market (ticker: CURAS) since October 2020, headquartered in Copenhagen with approximately 10 employees supplemented by specialist consultants, and has raised approximately DKK 97M at IPO plus DKK 51.2M via 2024 rights issue and additional directed issues and a DKK 40M Fenja Capital loan facility through 2025–2026. Operating losses have widened as expected (kDKK -55,592 in 2025 vs. -40,367 in 2024) reflecting clinical-stage R&D burn.

Curasight's strategic positioning rests on patent protection in Europe, US, Canada, and Japan (with the core US uTRACE® patent extended to 2035), a decade-plus academic foundation at Rigshospitalet and University of Copenhagen led by co-founder/CSO Professor Andreas Kjær, and a 'pipeline-in-a-drug' thesis that a single shared ligand can address multiple high-unmet-need solid tumors including glioblastoma, prostate cancer, neuroendocrine tumors, head and neck cancer, NSCLC, and pancreatic cancer.

Name

Curasight A/S

Legal name

Curasight A/S

Website

https://curasight.com

Company type

Public

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Curasight A/S is a Danish clinical-stage radiopharmaceutical company developing a uPAR-targeted theranostics platform combining uTRACE® PET diagnostics and uTREAT® radioligand therapy to diagnose and treat aggressive solid tumors including glioblastoma, prostate, and other uPAR-expressing cancers.

Ownership category

akta.pro rank

Product category

Radiopharmaceuticals

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

In Vitro & In Vivo Diagnostic Substances (2835)

akta.pro primary industry

Theranostic Radiopharmaceutical Platforms (Paired Dx/Tx) (HLAIAGAC)

Keywords

• Radiopharmaceutical therapy
• Cancer theranostics
• PET imaging diagnostics
• Radioligand therapy
• UPAR targeted oncology

Headquarters

HQ city

Copenhagen

HQ country

Denmark

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Pre-commercial / Clinical-stage: Curasight is a clinical-stage radiopharmaceutical company with no marketed products. Revenue will be derived from product sales and/or licensing royalties following regulatory approval. The company has not yet disclosed commercial revenue.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Curasight A/S is a clinical-stage Danish biotech company developing a proprietary uPAR-targeted theranostics platform. Its lead therapeutic candidate, uTREAT®, is a first-in-class radioligand therapy targeting aggressive solid tumors, paired with uTRACE®, a companion uPAR-PET imaging agent that enables patient selection and treatment monitoring. Both products share the same proprietary AE105 ligand targeting the urokinase-type plasminogen activator receptor (uPAR), which is expressed in more than 85% of solid tumors.

Product overview

Curasight A/S has developed a uPAR Theranostics Platform that combines two core products: uTRACE® (a uPAR-PET diagnostic imaging agent) and uTREAT® (a first-in-class uPAR-targeted radioligand therapy). Both products share the same proprietary uPAR-targeting ligand (AE105 peptide), enabling a true theranostic approach where uTRACE® is used for patient selection and tumor targeting confirmation, while uTREAT® delivers targeted radiation therapy. The platform is designed to treat aggressive solid tumors across multiple indications including glioblastoma, prostate cancer, neuroendocrine tumors, head and neck cancer, NSCLC, and pancreatic cancer.

Differentiator

Problem solved

Functional benefit

Brands

• uTRACE: uPAR-PET imaging and diagnostics technology for finding, visualising, and predicting whether a cancer is aggressive and how it should be treated.
• uTREAT

Products and services

• uTREAT® First-in-class uPAR-targeted radioligand therapy (RLT) designed to treat aggressive solid tumors including glioblastoma. It uses a proprietary ligand (AE105) to target the urokinase-type plasminogen activator receptor (uPAR), delivering targeted radiation directly to cancer cells while minimizing irradiation of healthy tissue. Intended for oncology patients with uPAR-expressing tumors.
• uTRACE®

Quantifiable outcome

• Phase 1 glioblastoma trial: clear and sustained uTREAT® uptake in tumor for at least 24 hours in first patient; biodistribution compatible with delivering therapeutically relevant radiation doses without reaching dose limits for healthy organs
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Curium Inc.coreStrategic or Co-development Partner · 1 May 2023Exclusive global license and collaboration agreement signed May 2023 with Curium Inc., a global leader in radiopharmaceuticals, for the development and commercialization of uTRACE® for use in prostate cancer. Curium supports Phase 2 prostate cancer trial across nine sites in Germany, Sweden, and Denmark. Part 1 of the trial is completed; Part 2 recruitment is well underway with completion expected in H1 2026.
• DLA Piper Denmark Law Firm P/SminorImplementation/ SI/ Consulting PartnerLegal advisor to Curasight, represented by Ulrik Bangsbo Hansen, Partner. Provides legal counsel for financing transactions, corporate governance, and regulatory matters. DLA Piper Denmark hosts Curasight's Annual General Meetings.
• Rigshospitalet / Copenhagen University Hospital / University of CopenhagencoreStrategic or Co-development PartnerScientific foundation of uPAR platform originates from more than a decade of research at Rigshospitalet and University of Copenhagen, led by Professor Andreas Kjær and his research group. Research demonstrated uPAR expression in >85% of solid tumors including glioblastoma, pancreatic, prostate, lung, and colorectal cancers.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Bayer (Radiopharmaceuticals / Xofigo): Major pharma with approved radiopharmaceutical Xofigo (radium-223 for prostate cancer bone metastases) and active radioligand pipeline. Comparable as a large incumbent with overlapping radiopharma ambitions in solid tumor oncology.
• Lantheus Holdings: Radiopharmaceutical company with commercial imaging products (e.g., Pylarify for PSMA-PET imaging) and expanding radioligand therapy pipeline. Comparable to Curasight as a peer in nuclear medicine imaging and emerging therapy, though larger and commercial-stage.
• Novartis (Radioligand Therapy franchise): Acquired Pluvicto (177Lu-PSMA-617 for prostate cancer) and Lutathera (177Lu-DOTATATE for neuroendocrine tumors) — established the radioligand therapy category with FDA-approved products. Comparable as the dominant incumbent in the same therapeutic modality Curasight is pursuing, though Novartis has vastly greater resources and a commercial-stage product.
• POINT Biopharma (acquired by Eli Lilly): Clinical-stage radioligand therapy company (acquired by Lilly in 2023) developing next-generation radiopharmaceuticals targeting solid tumors including prostate cancer. Comparable platform strategy to Curasight, with strong validation of radiopharma M&A appetite.
• Bristol Myers Squibb (RayzeBio radiopharma acquisition): Acquired RayzeBio in 2024 to build an actinium-based radiopharmaceutical platform for solid tumors. Comparable as a large incumbent aggressively expanding into radioligand therapy, signaling strategic M&A interest in the category where Curasight operates.
• Fusion Pharmaceuticals (acquired by AstraZeneca): Clinical-stage radioconjugate company (now part of AstraZeneca) developing alpha-emitting radioligand therapies for solid tumors. Highly comparable platform approach to Curasight's uPAR-targeted radioligand, with the validation signal of a big-pharma acquisition.

Direct peers

• Telix Pharmaceuticals: Commercial-stage radiopharmaceutical company developing diagnostic and therapeutic radioligands (e.g., Illuccix for PSMA-PET imaging in prostate cancer). Most directly comparable to Curasight as a theranostic-focused radiopharma targeting solid tumors with both imaging and therapy agents.
• Curium Inc. Global leader in radiopharmaceuticals and Curasight's strategic partner under the exclusive global license for uTRACE® in prostate cancer. Highly comparable business model (radiopharma with diagnostic imaging products), though Curium operates at greater scale and commercial stage.

Emerging players

• ITM Isotope Technologies Munich SE: Radiopharmaceutical company developing targeted radionuclide therapies and diagnostics for solid tumors. Comparable as a clinical-to-commercial-stage radiopharma with theranostic ambitions in oncology.
• Clarity Pharmaceuticals: Clinical-stage radiopharmaceutical company developing both diagnostic (e.g., SAR-bisPSMA for prostate imaging) and therapeutic (SAR technology platform) agents. Closely comparable stage and theranostic approach to Curasight, also publicly listed with similar size profile.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/curasight

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds7 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Curasight A/S