Plus Therapeutics Enters Into Master Services Agreement with Piramal Pharma Solutions, a Leading Contract Development and Man...
March 23 2021 - 7:30AM
Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”), a
clinical-stage pharmaceutical company developing novel, targeted
therapies for rare and difficult to treat cancers, today announced
that it has entered into a master services agreement (MSA) with
Piramal Pharma Solutions (PPS) for the development, manufacture,
and supply of Plus’ Rhenium NanoLiposome (RNL™) intermediate drug
product.
The MSA includes the transfer of analytical
methods, development of microbiological methods, process transfer
and optimization, intermediate drug product manufacturing and
stability studies. The transfer will be performed at PPS’s drug
product facility in Lexington, Kentucky. Plus anticipates that the
MSA will lead to clinical and commercial supply agreements for the
drug product at the appropriate stage of development.
PPS’s Lexington site is recognized as a North
American leader in formulation development and manufacture of
sterile parenteral drug products.
“This agreement represents another significant
milestone for Plus as we work to advance development of RNL as a
novel treatment option for patients diagnosed with glioblastoma,”
said Marc Hedrick M.D., President and Chief Executive Officer of
Plus Therapeutics. “The team at PPS has the knowledge, experience
and expertise to support our needs, both now and in the future as
we advance RNL towards regulatory approval.”
“We are thrilled to enter into this agreement
with Plus Therapeutics,” said Peter DeYoung, Chief Executive
Officer of Piramal Pharma Solutions. “Our expectation is that this
MSA represents the start of a long, mutually beneficial
relationship that will address our ultimate collective objective of
reducing the burden of disease on patients.”
About Plus Therapeutics,
Inc.
Plus Therapeutics (Nasdaq: PSTV) is a
clinical-stage pharmaceutical company whose radiotherapeutic
portfolio is concentrated on nanoliposome-encapsulated
radionuclides for several cancer targets. Central to the Company’s
drug development is a unique nanotechnology platform designed to
reformulate, deliver and commercialize multiple drugs targeting
rare cancers and other diseases. The platform is designed to
facilitate new delivery approaches and/or formulations of safe and
effective, injectable drugs, potentially enhancing the safety,
efficacy and convenience for patients and healthcare providers.
More information may be found
at PlusTherapeutics.com and ReSPECT-Trials.com.
About Piramal Pharma
SolutionsPiramal Pharma Solutions (PPS) is a contract
development and manufacturing organization offering end-to-end
development and manufacturing solutions across the drug life cycle.
They serve clients through a globally integrated network of
facilities in North America, Europe and Asia. This enables them to
offer a comprehensive range of services including drug discovery
solutions, process and pharmaceutical development services,
clinical trial supplies, commercial supply of APIs and finished
dosage forms. We also offer specialized services like development
and manufacture of highly potent active pharmaceuticals ingredients
and antibody drug conjugation. PPS’s capability as an integrated
service provider and experience with various technologies enables
them to serve innovator and generic companies worldwide.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain statements
that may be deemed “forward-looking statements” within the meaning
of U.S. securities laws. All statements, other than statements of
historical fact, that address activities, events or developments
that we intend, expect, project, believe or anticipate and similar
expressions or future conditional verbs such as will, should,
would, could or may occur in the future are forward-looking
statements. Such statements are based upon certain assumptions and
assessments made by our management in light of their experience and
their perception of historical trends, current conditions, expected
future developments and other factors they believe to be
appropriate. These statements include, without limitation,
statements about: the Company’s potential to facilitate new
delivery approaches and/or formulations of safe and effective,
injectable drugs, potentially enhancing the safety, efficacy and
convenience for patients and healthcare providers; the Company’s
potential to develop drug candidates currently in its product
pipeline; and the Company’s potential to develop additional drugs
outside of its current pipeline. The forward-looking statements
included in this press release are subject to a number of
additional material risks and uncertainties, including but not
limited to: the risk that the Company is not able to successfully
develop product candidates that can leverage the U.S. FDA’s
accelerated regulatory pathways; and the risks described under the
heading “Risk Factors” in the Company’s Securities and Exchange
Commission filings, including in the Company’s annual and quarterly
reports. There may be events in the future that the Company is
unable to predict, or over which it has no control, and its
business, financial condition, results of operations and prospects
may change in the future. The Company assumes no responsibility to
update or revise any forward-looking statements to reflect events,
trends or circumstances after the date they are made unless the
Company has an obligation under U.S. federal securities laws to do
so.
Investor ContactPeter VozzoWestwicke/ICR(443)
377-4767 Peter.Vozzo@westwicke.com
Media ContactTerri ClevengerWestwicke/ICR(203)
856-4326Terri.Clevenger@westwicke.com
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