Radiopharm Theranostics Signs Agreement With NorthStar Medical Radioisotopes for the Supply of Non-Carrier Added (n.c.a.) Actinium-225
October 26 2022 - 8:00AM
Business Wire
Radiopharm Theranostics (ASX:RAD), a developer of a world-class
platform of radiopharmaceutical products for both diagnostic and
therapeutic uses, and NorthStar Medical Radioisotopes, LLC, a
global innovator in the development, production and
commercialization of radiopharmaceuticals used for therapeutic
applications and medical imaging, today announced they have entered
into a clinical supply agreement that will see NorthStar supply
Radiopharm with Actinium-225.
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Actinium-225 is key to development of several
radiopharmaceutical products within Radiopharm’s broad portfolio of
technologies, with this being the second supply agreement it has
secured for Actinium-225. It will be utilised in drug trials
involving targeted alpha therapy in multiple disease areas.
“It remains a priority for us to secure these key supply
agreements, which allow us to continue with our clinical
development unimpeded,” said Riccardo Canevari, CEO and Managing
Director of Radiopharm Theranostics. “We are fortunate to lock in
another outstanding partner such as NorthStar, who has proven
itself as a reliable, high-quality supplier of medical
radioisotopes.”
“NorthStar is recognized as an emerging leader for the
production of n.c.a. Actinium-225, and we have recently stated our
intention to become the first commercial-scale supplier in the
market,” said Stephen Merrick, CEO of NorthStar Medical
Radioisotopes. “We look forward to applying our state-of-the-art
production technology to bring n.c.a. Actinium-225 to the team at
Radiopharm Theranostics, with the aim of together making a
difference, to develop revolutionary, environmentally preferable
therapeutic radiopharmaceuticals that have enormous potential to
benefit patients with serious disease.”
The costs associated with the purchase of Actinium-225 are not
material in relation to RAD’s annual budgeted expenditure and will
be met from existing funds. The initial order with NorthStar is
expected to occur during the first half of 2024. The effective date
of the supply agreement is 23 October 2022 and there are no
material preconditions. The supply agreement is for an initial
period of ten years and may be extended unless agreed otherwise by
either party. Cancellation provisions are at industry standard
rates. Radiopharm will own all data generated and all inventions
and discoveries made or conceived from its clinical trials.
About NorthStar Medical Radioisotopes
NorthStar Medical Radioisotopes is a commercial-stage nuclear
medicine company that manufactures and distributes diagnostic and
therapeutic radioisotopes and radiopharmaceuticals. The Company’s
proprietary state-of-the-art technology and proven management team
have propelled it to the forefront of U.S. medical radioisotope
production as the sole domestic producer of the diagnostic imaging
radioisotope molybdenum-99 (Mo-99). Mo-99 is used to generate
technetium-99m (Tc-99m), the standard of care in diagnostic imaging
to assess the extent and severity of heart disease and cancer.
NorthStar’s unique Mo-99 production process is non-uranium based
and environmentally friendly. NorthStar is expanding its
industry-leading position in the emerging area of therapeutic
radioisotopes, which are used in targeted radiopharmaceutical
therapy to treat cancer, respiratory and other diseases. Using
first-in-kind and environmentally-sound electron accelerator
technology, NorthStar is poised to be the first commercial-scale
producer of therapeutic radioisotopes actinium-225 (Ac-225) and
copper-67 (Cu-67). NorthStar also collaborates with other companies
in the development of radiopharmaceuticals. For more information
about NorthStar’s comprehensive radiopharmaceutical portfolio,
visit: www.northstarnm.com.
Authorised on behalf of the Radiopharm Theranostics board of
directors by Chairman Paul Hopper.
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version on businesswire.com: https://www.businesswire.com/news/home/20221026005103/en/
For more information: Radiopharm Theranostics
Riccardo Canevari CEO & Managing Director P: +1 862 309 0293 E:
rc@radiopharmtheranostics.com
Paul Hopper Executive Chairman P: +61 406 671 515 E:
paulhopper@lifescienceportfolio.com
Matt Wright NWR Communications P: +61 451 896 420 E:
matt@nwrcommunications.com.au
Follow Radiopharm Theranostics: Website –
https://radiopharmtheranostics.com/ Twitter –
https://twitter.com/TeamRadiopharm Linked In –
https://www.linkedin.com/company/radiopharm-theranostics/
NorthStar Medical Radioisotopes, LLC Corporate: Lisa
Holst Vice President Sales and Marketing 678-471-9027
lholst@northstarnm.com
Investor Relations: Paul Estrem Executive Vice President and
Chief Financial Officer 608-987-8318 pestrem@northstarnm.com
Media: Priscilla Harlan 781-799-7917
pharlan@shiningrockllc.com
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