BWXT Medical Expands Collaboration with Fusion Pharmaceuticals Through Strengthened Actinium Supply and Access to Generator Technology
November 16 2023 - 6:45AM
Business Wire
Agreement Furthers BWXT Medical’s Position as a
Global Leader in Actinium Supply
Collaboration Enables Fusion to Produce High
Purity Actinium-225 At Its Manufacturing Facility for Clinical
Trials
BWXT Medical Ltd. and Fusion Pharmaceuticals Inc. (Nasdaq: FUSN)
today announced that the companies have entered into an agreement
for the supply of generators to produce actinium-225, a medical
isotope used to treat cancer in clinical trials.
Under the agreement, BWXT Medical (a subsidiary of BWX
Technologies, Inc. (NYSE: BWXT)), will provide Fusion with a
preferential supply of radium-225 and access to high-specific
activity generator technology (actinium-227-free), enabling Fusion
to produce actinium-225 at its Good Manufacturing Practice (GMP)
manufacturing facility for the benefit of its clinical trials. In
addition, the companies have expanded their existing actinium-225
supply agreement, supporting Fusion’s advancing pipeline of
targeted alpha therapies.
Actinium-225 is an alpha-emitting isotope used in Fusion’s
targeted alpha therapies (TATs) that combine the isotope with
specific tumor-targeting vectors to kill cancer cells while
minimizing the impact to healthy tissues. Radium-225 is the parent
isotope that undergoes decay to form actinium-225. BWXT’s
proprietary generator technology allows for the on-demand isolation
of high purity actinium-225 from the radium supplied by BWXT
Medical.
BWXT Medical President and Chief Executive Officer Jonathan
Cirtain, Ph. D. said, “We’re proud to be expanding our relationship
with Fusion, a leading developer of targeted alpha therapies. Our
company’s significant investments in infrastructure and
intellectual property are demonstrating results for our customers
around the world. BWXT Medical’s innovative actinium-225 generator
technology will have significant benefits for both clinical and
future commercial supply. We look forward to continuing our
respective efforts as Fusion’s clinical programs advance and BWXT
Medical helps meet the increasing global demand for actinium.”
Fusion Chief Executive Officer John Valliant, Ph.D. said, “Since
our inception, Fusion has made proactive investments to secure
actinium-225 supply, creating a robust and diversified supply
chain. Our contractual relationship with BWXT Medical, an
established leader in medical isotope manufacturing and supply with
proven ability to produce and deliver high purity actinium, is a
critical component of our strategy, and we are excited to expand
our relationship. Supply of radium-225 and access to BWXT’s
generator technology allows Fusion to be one of the first
radiopharmaceutical development companies to have onsite production
of high-specific activity actinium-225, providing us superior
flexibility in our manufacturing schedules and increased capacity
to support our clinical pipeline. This readiness is critical as we
prepare to advance our lead program, FPI-2265, which is positioned
to be the first actinium-based radiopharmaceutical for prostate
specific membrane antigen (PSMA) to market, into a Phase 3 clinical
trial.”
In January 2023, Fusion and BWXT Medical announced that the
companies entered into a preferred partner agreement for the supply
of actinium-225. Under that agreement, BWXT Medical has been
providing predetermined amounts of Fusion's actinium supply needs
at volume-based pricing.
Forward Looking Statements
BWX Technologies, Inc. (“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, Ac-225 generators and Ra-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 potential supply chain issues. 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, 2022 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 Medical
BWXT Medical Ltd. manufactures custom radiopharmaceuticals,
radiotherapies and medical isotopes in an 80,000-square-foot cGMP
manufacturing facility in Ottawa and at the state-of-the-art
commercial cyclotron facility within TRIUMF, Canada’s particle
acceleration centre. BWXT Medical Ltd. is a subsidiary of BWX
Technologies, Inc. (NYSE: BWXT). BWXT is a manufacturing and
engineering innovator that provides safe and effective nuclear
solutions for global security, clean energy, environmental
restoration, nuclear medicine and space exploration. Follow us on X
at @BWXT and learn more at www.bwxt.com.
About Fusion
Fusion Pharmaceuticals is a clinical-stage oncology company
focused on developing next-generation radiopharmaceuticals as
precision medicines. Fusion connects alpha particle emitting
isotopes to various targeting molecules in order to selectively
deliver the alpha emitting payloads to tumors. Fusion leases a
current Good Manufacturing Practice (GMP) compliant
radiopharmaceutical manufacturing facility designed to support
manufacturing of the Company's growing pipeline of TATs on the
McMaster University campus in Hamilton, Ontario. To support
Fusion’s growing pipeline of TATs, the Company has signed strategic
actinium supply agreements with TRIUMF, Niowave, Inc. and BWXT
Medical.
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version on businesswire.com: https://www.businesswire.com/news/home/20231116830247/en/
Media Contact Monifa Miller Senior Director, Corporate
Affairs Commercial Operations 519.242.8071 mamiller@bwxt.com
Investor Contact Chase Jacobson Vice President, Investor
Relations 980.365.4300 investors@bwxt.com Fusion: Amanda
Cray Senior Director of Investor Relations & Corporate
Communications 617-967-0207 cray@fusionpharma.com
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