BWXT Medical and Bayer AG Enter into Agreement for the Development and Production of Actinium-225
September 16 2021 - 6:45AM
Business Wire
BWX Technologies, Inc. (NYSE: BWXT) announced today that its
BWXT Medical Ltd. subsidiary (BWXT Medical) has entered into an
agreement with Bayer AG (Bayer) to develop Actinium-225 (Ac-225)
supply and further partnering opportunities on finished products as
both companies broaden their respective commercialization
strategies for targeted radionuclide therapies (TRTs) and other
innovative products.
Ac-225 is a highly powerful radioisotope used in targeted alpha
therapies (TATs), an emerging class of radionuclide therapy for
various tumors with a high unmet medical need, delivering alpha
radiation directly to tumors either via its bone-seeking properties
(radium-223) or by combining alpha radionuclides such as Ac-225
with specific tumor-seeking targeting vectors.
BWXT Medical is a global supplier of medical isotopes and
radiopharmaceuticals. Bayer is a global enterprise with core
competencies in the life science fields of health care and
nutrition. The oncology franchise at Bayer includes six marketed
products including Xofigo™ (radium-223 dichloride, the first and
only approved TAT) and several other TATs in different stages of
development, including an investigational Ac-225 labeled
differentiated prostate-specific membrane antigen (PSMA) small
molecule for the treatment of prostate cancer.
BWXT Medical plans to utilize its deep relationships with
strategic partners in irradiation services and development of
Ac-225. Much like BWXT Medical’s other products, processing and
manufacturing would then be conducted at BWXT Medical facilities.
Bayer and BWXT Medical have structured the evolution of their
relationship to progress over stages, and the complete terms of the
commercial agreements will be finalized at a later date.
“Bayer has long been a leader in targeted alpha therapies with
Xofigo, and we share their aspiration of making a significant
difference in the lives of people suffering from cancer,” said
Martyn Coombs, president of BWXT Medical. “Targeted radionuclide
therapies are anticipated to be a significant growth market in the
future, and we plan to leverage our differential strengths in
nuclear medicine to be a strong partner to Bayer for Ac-225-based
products and other opportunities.”
Forward Looking Statements
BWXT cautions that this release contains forward-looking
statements, including statements relating to expectations for the
development, production, performance, demand, timing and impact of
Ac-225. These forward-looking statements involve a number of risks
and uncertainties, including, among other things, changes in market
demand, delays in the development and automation of our production,
regulatory approvals and competitive actions. If one or more of
these or other risks materialize, actual results may vary
materially from those expressed. For a more complete discussion of
these and other risk factors, please see BWXT’s annual report on
Form 10-K for the year ended December 31, 2020 and subsequent
quarterly reports on Form 10-Q filed with the Securities and
Exchange Commission. BWXT cautions not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this release, and undertakes no obligation to update or revise
any forward-looking statement, except to the extent required by
applicable law.
About BWXT
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong,
Innovation Driven. Headquartered in Lynchburg, Va., BWXT provides
safe and effective nuclear solutions for national security, clean
energy, environmental remediation, nuclear medicine and space
exploration. With approximately 6,700 employees, BWXT has 12 major
operating sites in the U.S. and Canada. In addition, BWXT joint
ventures provide management and operations at more than a dozen
U.S. Department of Energy and NASA facilities. Follow us on Twitter
at @BWXT and learn more at www.bwxt.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210916005063/en/
Media Contact Natalie Cutler Director, Communications,
BWXT Canada Ltd. 519-620-5288 nacutler@bwxt.com
Investor Contact Mark Kratz Vice President, Investor
Relations 980.365.4300 investors@bwxt.com
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