On July 31, 2023 ITM Isotope Technologies Munich SE (ITM), a leading radiopharmaceutical biotech company and POINT Biopharma Global Inc. (NASDAQ: PNT) ("POINT"), a company accelerating the discovery, development, and global access to life-changing radiopharmaceuticals, reported the expansion of their global supply agreements signed in 2020. The expanded agreement broadens the supply of ITM’s non-carrier-added lutetium-177 (n.c.a.177Lu) to POINT to enable its usage in the clinical and potential future commercial development of the 177Lu-based molecules in POINT’s development pipeline. Financial details of the agreement were not disclosed.
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"Since POINT launched in late 2019, ITM has been a key partner to us as we have worked to establish a commercially scalable, reliable and redundant n.c.a. lutetium-177 supply chain," said Joe McCann, Ph.D., CEO of POINT Biopharma. "In building on this established trust and ITM’s position as the world’s leading manufacturer of n.c.a. lutetium-177, we value the ability to utilize ITM’s highly pure radioisotope across our growing pipeline of next-generation radioligands for precision oncology."
Steffen Schuster, CEO of ITM added, "It is our objective to make Targeted Radionuclide Therapy as broadly available as possible, not only by advancing our own pipeline, but also by supporting the whole industry with a stable and scalable isotope supply. We look forward to enriching our long-term collaboration with POINT by supplying our versatile n.c.a. lutetium-177 for the development and commercialization of various novel molecules."
ITM holds a U.S. Drug Master File (DMF) with the Food and Drug Administration (FDA) for n.c.a. 177Lu and has marketing authorization in the EU (brand name EndolucinBeta).
About Targeted Radionuclide Therapy
Targeted Radionuclide Therapy is an emerging class of cancer therapeutics, which seeks to deliver radiation directly to the tumor while minimizing radiation exposure to normal tissue. Targeted radiopharmaceuticals are created by linking a therapeutic radioisotope to a targeting molecule (e.g., peptide, antibody, small molecule) that can precisely recognize tumor cells and bind to tumor-specific characteristics, such as receptors on the tumor cell surface. As a result, the radioisotope accumulates at the tumor site and decays, releasing a small amount of ionizing radiation, with the goal of destroying tumor tissue. The precise localization enables targeted treatment with potentially minimal impact to healthy surrounding tissue.
(Press release, ITM Isotopen Technologien Munchen, JUL 31, 2023, View Source [SID1234661156])