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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, 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.

 

ITM Corporate Communications

Julia Hofmann / Svenja Gaertner
Telefon: +49 89 329 8986 1502                 
E-Mail: communications(at)itm-radiopharma.com

ITM Investor Relations

Ben Orzelek
Telefon: +49 89 329 8986 1009                
E-Mail: Ben.Orzelek(at)itm-radiopharma.com