POINT Biopharma Debuts as Publicly Traded Next-Generation Radiotherapeutics Company

POINT Biopharma Inc. ("POINT"), a company accelerating the discovery, development and global access to radiopharmaceuticals, today announced the completion of its business combination with Therapeutics Acquisition Corp., d/b/a Research Alliance Corp. I (Nasdaq: RACA) ("RACA"), a special purpose acquisition company ("SPAC"), sponsored by RA Capital Management. POINT Biopharma Global Inc. ("New POINT"), the resulting combined company, will commence trading shares of its common stock on the Nasdaq Capital Market (the "NASDAQ") under the ticker symbol "PNT" on July 1, 2021.

The shareholders of RACA approved the transaction at a special meeting held on June 29, 2021. The transaction was previously approved by POINT's shareholders. New POINT's management team will be led by Chief Executive Officer Joe McCann, who previously served as POINT's Chief Executive Officer.

"We are excited to be entering the public markets at a time when innovative radiopharmaceuticals have gained so much momentum and are being recognized as potential options for many types of cancer, including large indications such as prostate cancer. Looking ahead, we are working diligently to complete our two Phase 3 studies in prostate and neuroendocrine cancers, qualify of our manufacturing facility in Indiana, continue to build a robust radioisotope supply chain and advance our pipeline of therapeutic pre-clinical programs, including our Fibroblast Activation Protein-α, towards the clinic, in combination with alpha and beta emitting radioisotopes" said Dr. Joe McCann. "We want to thank our entire team, our new and existing shareholders, and all those involved in making this transaction a success. We look forward to bringing the next-generation of precision oncology medicines to patients."

"To date, POINT has demonstrated their deep expertise in advancing a pipeline of novel radio-pharmaceuticals to improve current standard of care for patients with little or no therapeutic options," said Peter Kolchinsky, Chief Executive Officer of RACA and Managing Partner at RA Capital Management. "We believe that the Company now has the capital resources required to advance their late stage radioligand therapies towards commercialization and continue to develop their early stage pipeline, both of which have the potential to meaningfully improve the prognosis and quality of life of patients."

Summary of Transaction

On March 15, 2021, POINT entered into a definitive business combination agreement with RACA, a SPAC, sponsored by RA Capital Management, that was created for the purpose of entering into a business combination with a selected biopharmaceutical company and bringing the combined entity to the NASDAQ.

As a result of the business combination, New POINT received gross proceeds of approximately $286.7 million, which included $165 million from a fully-committed PIPE led by RA Capital Management and top-tier U.S. healthcare investors including Johnson & Johnson Innovation - JJDC, Inc., Surveyor Capital (a Citadel company), Farallon Capital Management, L.L.C., BVF Partners L.P., Boxer Capital, Sphera Healthcare, Woodline Partners LP, Suvretta Capital, Fairmount Funds, and Perceptive Advisors.

The description of the business combination contained herein is only a high-level summary and is qualified in its entirety by reference to the underlying documents filed with the U.S. Securities and Exchange Commission (the "SEC"). A more detailed description of the terms of the transaction has been provided in RACA's definitive proxy statement filed with the SEC on June 9, 2021.

Advisors

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

About POINT Biopharma Global Inc.

POINT Biopharma Global Inc. is a globally focused radiopharmaceutical company building a platform for the clinical development and commercialization of radioligands that fight cancer. POINT Biopharma Global Inc. is combining a portfolio of best-in-class radiopharmaceutical assets, a seasoned management team, expertise in radioisotopes such as Actinium-225 (Ac-225) and Lutetium-177 (Lu-177), manufacturing technology and novel direct-to-patient targeting to revolutionize theragnostic drug development and radioligand commercialization.