ITM, a leading radiopharmaceutical biotech company, announced today with the registration in the Commercial Register of the District Court of Munich, the completion of its conversion from a German stock corporation (Aktiengesellschaft, “AG”) into a European company (Societas Europaea, “SE”). As of September 21, 2021, ITM is operating under the registered name ITM Isotope Technologies Munich SE (“ITM”) with the commercial register number 269592.
Primarily, the change of the corporate form suits ITM’s international position. The transition represents the next logical step in ITM's growth and will provide organizational benefits for the company’s development within and beyond Europe. As a European company, ITM will enjoy increased flexibility within its corporate structure, a simplified process for establishing new subsidiaries, enhanced mobility within the EU market and improved fundraising and partnering opportunities with other international corporations. The conversion does not impact ITM’s day-to-day business and operations, nor does it affect current collaborations or existing contracts.
ITM’s annual general meeting voted in favour of this conversion on July 20, 2021. ITM will maintain its current two-tier board structure, consisting of a Management Board and a Supervisory Board, and its headquarters will remain in Garching near Munich, Germany.
“ITM’s global mindset is reflected in our worldwide supply network, multi-national partnerships, multiple subsidiaries and now in our name. The SE corporate form provides ITM with benefits designed to meet the needs of European-based companies that operate internationally. It is well-suited to our corporate and clinical goals, including improved access to international investors. We view this conversion as a logical step as we continue to develop as an organization,” commented Steffen Schuster, CEO of ITM.
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About ITM Isotopen Technologien München AG
ITM, a privately held radiopharmaceutical biotech company founded in 2004, is dedicated to providing the most precise cancer radiotherapeutics and diagnostics to meet the needs of patients, clinicians and our partners through excellence in development, production and global supply. With patient benefit as the driving principle for all we do, ITM is advancing a broad pipeline combining its superior radioisotopes with targeting molecules to create precision oncology treatments. ITM is leveraging its leadership and nearly two decades of radioisotope expertise combined with its worldwide network to enable nuclear medicine to reach its full potential for helping patients live longer and better. For more information, please visit www.itm-radiopharma.com.
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