Congratulations to West Valley City and Salt Lake County! Ratio Therapeutics, a biotechnology company developing targeted radiopharmaceuticals for the treatment of cancer, has announced plans to expand operations in the region. The company intends to create 100 new jobs in West Valley City over the next 10 years.

The company’s announcement was the result of collaboration among Jonathan Springmeyer of West Valley City, Doug Cole of NAI Premier, EDCUtah, Wasatch Group, the Governor’s Office of Economic Opportunity, and Kelvyn Cullimore of BioUtah.

EDCUtah was introduced to Ratio TX through Doug Cole at NAI Premier. In the early stages of the project, EDCUtah provided preliminary research on Utah’s business environment to support their evaluation process. We facilitated key introductions, including to the Governor’s Office of Economic Opportunity (GOEO) for potential incentives, and connected Ratio TX with West Valley City's economic development director, Jonathan Springmeyer. Additional introductions included BioUtah, Eide Bailly, and the Utah Inland Port Authority (UIPA) to explore support opportunities.

“We believe that Ratio Therapeutics will not only enhance the scientific community in West Valley City but will also bring new jobs, research opportunities, and commercial activity,” said Jonathan Springmeyer, director of economic development for West Valley City. “Their presence will help solidify our city’s reputation as a national leader in the life sciences sector. We wholeheartedly support Ratio Therapeutics’ efforts to establish operations here and look forward to the positive contributions they will bring to our city and to the shared goals of fostering innovation and improving lives.”

“Utah’s vibrant life sciences sector is a key driver of our state’s economic strength and quality of life,” said Ryan Starks, executive director of EDCUtah. “Advancements like those pursued by Ratio Therapeutics not only drive innovation but also create meaningful benefits for communities and fuel sustainable economic growth across the state. Supporting their growth helps us foster cutting-edge innovation, generate high-quality job opportunities, and reinforce Utah’s leadership in health innovation and sustainable economic development.”

Ratio Therapeutics is a company that develops targeted radiotherapeutics for cancer treatment, focusing on using small molecule targeting agents to attack various cancer targets. They use proprietary research and development platforms to create these agents, which can also accommodate imaging and therapeutic radioisotopes for theranostics. Their mission is to develop next-generation precision radiopharmaceuticals for solid tumors and transform oncology treatment paradigms.

"Utah stood out as a natural choice for Ratio’s expansion given its growing life sciences ecosystem, strong support for innovation and access to key suppliers in our field like Nusano. This will not only help us rapidly advance our cancer therapies but will also attract top-tier talent, create high-quality jobs and establish the critical manufacturing infrastructure needed to deliver radiopharmaceuticals in Utah and the broader North America," said Jack Hoppin, Ph.D., chairman and CEO of Ratio. "We’re excited to partner with the Wasatch Group, an organization that shares our ambition to drive the life sciences field forward, for the construction of our new research and manufacturing facility in Utah.”

The Utah Governor’s Office of Economic Opportunity (GOEO) – an EDCUtah founding investor – assisted the project by approving Ratio Therapeutics for Economic Development Tax Increment Financing (EDTIF).

“Utah’s thriving life sciences industry is a cornerstone of our state’s economic prosperity and quality of life,” said Jefferson Moss, executive director of the Governor’s Office of Economic Opportunity. “Cancer research plays a critical role in solving disease and improving lives, and we’re proud to invite these critical innovations to our state. By supporting companies like Ratio Therapeutics, we foster innovation, create high-quality jobs, and strengthen Utah’s position as a leader in health innovation and long-term economic growth.”‍

Rex Buys, business development manager, led the project for EDCUtah.‍

EDCUtah Investors: If you were involved with this project and would like to have your organization mentioned, please email connect@edcutah.org and we’ll update this article.‍