Company: RDPTF
Filing Date: 2025-09-18
Form Type: 20-F
Source: 0001213900-25-088699
Chunk: 132

Company: Radiopharm Theranostics Ltd
Filing Date: 2025-09-18
Form: 20-F
Item: Item 8
Chunk 132
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 decides to terminate the development of a clinical asset, the license of the patent rights
used to develop such product will immediately terminate.

Radiopharm Ventures may, respectively,
four years and seven years from the selection date of a clinical target to initiate a Phase II and Phase III clinical trial. If Radiopharm
Ventures fails to do so, the license of the patent rights used to develop the clinical target shall immediately terminate.

Under the agreement, Radiopharm
will pay MD Anderson an aggregate amount equal to US$32.275 million upon achievement of several therapeutic clinical development and regulatory
approval milestones. For further details, please see Note 13(f) to financial statements for fiscal 2025 in this Annual Report. In addition,
Radiopharm Ventures must pay a single-digit running royalty on net sales for any product targeting an approved indication covered by the
licensed patents. Running royalties accrued shall be credited against the minimum annual royalties due. After the first sale of any product
targeting an approved indication covered by the licensed patents, Radiopharm Ventures must pay minimum annual royalties of $100,000 following
the first and second anniversary of the date of the agreement (if there has been a first sale) and $200,000 for each subsequent year.
Running royalties accrued will be credited against the minimum annual royalties due. Radiopharm has paid approximately US$1.5 million
to MD Anderson through June 30, 2025.

Our agreement with MD Anderson
will remain effective until the later of (i) the expiration, cancellation, withdrawal or express abandonment of the patents licensed or
(ii) twenty years from the effective date of the agreement. In addition, the agreement may terminate (i) for cause by MD Anderson in case
of material breaches by Radiopharm Ventures, (ii) immediately by MD Anderson if Radiopharm Ventures does not initiate a Phase II or Phase
III clinical trial within six or nine years respectively from the effective date of the agreement, or (iii) if MD Anderson terminates
the member’s agreement regarding the formation of Radiopharm Ventures.

Limited Liability Company Agreement between Radiopharm Theranostics
(USA) Inc. and MD Anderson

In September 2022, Radiopharm
USA and MD Anderson entered into a Limited Liability Company Agreement to manage the governance of Radiopharm Ventures. Radiopharm USA
owned 51% of the units issued by Radiopharm Ventures and MD Anderson owned 49% of the units issued by Radiopharm Ventures. Each