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NM-03 (also known as RAD204) is a nanobody-based radiopharmaceutical developed by NanoMab Technology and out-licensed to Radiopharm Theranostics. Although some early pipeline listings associated the asset with HER2-negative breast cancer, the drug specifically targets Trophoblast cell-surface antigen 2 (TROP-2), a protein overexpressed in various epithelial tumors, including triple-negative breast cancer (TNBC). NM-03 utilizes a camelid-derived single-domain antibody (nanobody) platform, which allows for high-affinity binding, deep tumor penetration, and rapid systemic clearance. It is designed as a theranostic agent, capable of being labeled with isotopes for both diagnostic imaging (e.g., PET/SPECT) and targeted radionuclide therapy (e.g., using Lutetium-177 or Actinium-225).
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