By Dave DeFusco
At the recent Graduate Symposium of Science, Health and Technology, Jenny Maharjan, a student in the M.S. in Biotechnology Management & Entrepreneurship, tackled one of the most daunting challenges in oncology: how to treat aggressive childhood bone cancer with greater precision and fewer side effects.
“Cancer remains a leading cause of death globally,” said Maharjan, “and the current treatments often fall short, especially for children, because they’re limited by poor tumor specificity and damaging off-target effects.”
In her presentation, “Development of Radioimmunoconjugate for Diagnosis and Treatment of Osteosarcoma with a Focus in Pediatric Population,” Maharjan introduced her research into radioimmunoconjugates, a class of targeted cancer therapies that combine imaging and radiotherapy into a single, potent tool for detection and treatment.
Her work centers on a novel therapy under development by Frezent Biological Solutions, a biotechnology startup aiming to revolutionize treatment for recurrent cancers, particularly osteosarcoma, the most common type of bone cancer in children and adolescents. Maharjan’s project offers a strategic and scientific roadmap for how Frezent’s investigational therapy could not only reach the clinic, but change lives.
Radio theranostics, the field in which Maharjan’s research is rooted, merges diagnostics and therapeutics into one unified approach. Among these technologies, radioimmunoconjugates, which are antibodies linked to radioactive isotopes, have emerged as one of the most promising, offering the ability to precisely home in on tumor-associated antigens. This allows clinicians to both visualize and attack cancer cells while minimizing collateral damage to healthy tissue.
“In a disease like osteosarcoma, especially in pediatric cases, the ability to deliver treatment directly to the tumor without harming growing tissues is absolutely critical,” said Maharjan.
But such therapies face significant challenges, from scaling production and ensuring radiation safety to selecting the optimal radioisotopes and delivery mechanisms. To address these, Maharjan conducted a comprehensive study—part scientific inquiry, part commercial strategy.
Under the guidance of her advisor, Dr. Robert Friedman, an industry professor in the Katz School’s biotechnology program, and Dr. Natasha Shtraizent, founder of Frezent Biological Solutions, Maharjan undertook a deep dive into three main objectives:
- Assessing the Market and Scientific Landscape: She analyzed trends in the global radiopharmaceutical and theranostics market, a field growing at a compound annual growth rate of 4.6%, with a projected size of $19.91 billion by 2030. This included major players like Novartis, Telix Pharmaceuticals and Y-mAbs, as well as emerging technologies such as SADA PRIT and Accum.
- Defining a Target Product Profile (TPP): Maharjan proposed a detailed TPP for a radioimmunoconjugate therapy targeting IGF2R, a receptor overexpressed in many osteosarcoma tumors. The profile addressed pediatric, adolescent and adult dosing requirements, along with regulatory considerations critical to radiopharmaceutical approval.
- Identifying the Commercial Opportunity: By examining Frezent’s market positioning, Maharjan projected a serviceable obtainable market of $55.99 million in the United States alone by 2030, based on IGF2R expression in 50% of osteosarcoma cases. Globally, osteosarcoma accounts for 37.5% of the $15.2 billion bone cancer market, signaling a significant opening for investment and collaboration.
“Jenny’s work represents the best of what we strive for at the Katz School—scientific rigor, entrepreneurial thinking and a deep commitment to patient impact,” said Dr. Friedman. “She’s not just developing a new therapy, she’s helping to build the foundation for a company that could transform the standard of care for a vulnerable pediatric population.”
The strategic analysis outlined in her presentation doesn't just support Frezent’s clinical goals, it helps investors and potential collaborators visualize the path forward by de-risking the early stages of biotech innovation with sound data and foresight.
With innovations like Frezent’s radioimmunoconjugate on the horizon, the future of pediatric oncology looks more hopeful than ever. Maharjan’s work demonstrates how an emerging generation of scientists, trained to think beyond the bench, can accelerate progress in life-saving ways.
“Ultimately, the objective of the research is to help bring therapies to children who don’t have many options today—therapies that are smarter, safer and more effective,” said Maharjan. “If we can align the science with strong commercial and regulatory strategies, we can make that happen.”
