ITM Acquires a New Platform for the Development of Next-Generation Theranostics
• Technology platform for PET tracers strengthens ITM’s radiodiagnostic portfolio
• Additional assets potentially expand ITM’s pipeline of novel targeted radionuclide therapeutics
Garching / Munich, Germany – August 18, 2022 – ITM Isotope Technologies Munich SE (ITM), a leading radiopharmaceutical biotech company, today announced that it has signed an agreement to acquire Positron Precision GmbH, a company developing a technology platform for positron emission tomography (PET) tracers and various radiotherapeutic candidates. As a result of the transaction, ITM will be able to develop next-generation “shake and inject” cold kits to target a broad range of indications, thereby further strengthening its position in the field of radiodiagnostics. In addition, the transaction will add new therapeutic candidates to ITM’s robust radiotherapeutic oncology pipeline.
“As we continue to expand our position as a global leader in the development and manufacturing of innovative, first-in-class targeted radiopharmaceuticals, the acquisition of this technology provides us with a new tool to overcome current hurdles in developing PET radiodiagnostics. The proprietary platform can be coupled with a range of targeting molecules and allows for fast integration of novel imaging compounds that can advance towards the market within a few years both within our pipeline and together with trusted partners,” commented Steffen Schuster, CEO of ITM. “By extending our diagnostic and therapeutic portfolio, ITM consequently pursues the theranostic concept of molecular precision oncology.”
The acquisition gives ITM access to a DATA chelator-based platform technology leveraging gallium-68 (68Ga) as the fastest growing PET radionuclide to develop new targeted PET solutions. These new, “shake and inject” cold kits will be easy to handle and are reconstituted at room temperature.
The transaction also provides the company with therapeutic candidates which perfectly fit into ITM’s development strategy and might expand the company’s future clinical pipeline. Further information on these assets and other deal terms were not disclosed.
ITM is a global leader in the production and supply of high-quality medical radioisotopes for diagnosis and targeted treatment of various cancer indications and has established a wide-reaching international supply network. The company has integrated its expertise in developing a broad proprietary pipeline of targeted radiopharmaceutical diagnostics and therapeutics. ITM combines its medical radioisotopes including 68Ga, n.c.a. lutetium-177 (177Lu) and actinium-225 (225Ac) with targeting molecules capable of reaching a range of tumors, including gastroenteropancreatic neuroendocrine tumors (GEP-NETs). The acquisition allows ITM to further leverage its capabilities to bring novel radiopharmaceuticals to the market.
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About Targeted Radionuclide Therapy
Targeted Radionuclide Therapy is an emerging class of cancer therapeutics, which seeks to deliver radiation directly to the tumor while minimizing radiation exposure to normal tissue. Targeted radiopharmaceuticals are created by linking a therapeutic radioisotope to a targeting molecule (e.g., peptide, antibody, small molecule) that can precisely recognize tumor cells and bind to tumor-specific characteristics, like receptors on the tumor cell surface. As a result, the radioisotope accumulates at the tumor site and decays, releasing a small amount of ionizing radiation, thereby destroying tumor tissue. The precise localization enables targeted treatment with minimal impact to healthy surrounding tissue.
About ITM Isotope Technologies Munich SE
ITM, a leading radiopharmaceutical biotech company, is dedicated to providing a new generation of radiomolecular precision therapeutics and diagnostics for hard-to-treat tumors. We aim to meet the needs of cancer patients, clinicians and our partners through excellence in development, production and global supply. With improved patient benefit as the driving principle for all we do, ITM advances a broad precision oncology pipeline, including two phase III studies, combining the company’s high-quality radioisotopes with a range of targeting molecules. By leveraging our nearly two decades of pioneering radiopharma expertise, central industry position and established global network, ITM strives to provide patients with more effective targeted treatment to improve clinical outcome and quality of life. www.itm-radiopharma.com
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