Theragnostics Announces Licensing Agreement for Development and Commercialization of One-Step PET Radiopharmaceuticals
Under the terms of the agreement, Theragnostics receives an upfront payment and is eligible for future royalties on sales of resulting products.
LONDON, Sept. 22, 2021 /PRNewswire/ -- Theragnostics, which is developing molecular radiotherapy for imaging and treating a broad range of cancers, announces that it has signed a global licensing agreement with Advanced Accelerator Applications S.A. ("AAA"), a Novartis company, to develop and commercialise Gallium-68 (Ga-68) one-step PET radiopharmaceuticals.
Under the terms of the agreement, Theragnostics receives an upfront payment and is eligible for future royalties on sales of resulting products. AAA has exclusive rights to commercialise the one-step PET radiopharmaceuticals developed under the licensed patent.
In the context of nuclear medicine, the use of targeting molecules labelled either with diagnostic imaging radioisotopes such as Ga-68 or with therapeutic radioisotopes such as Lutetium 177 (Lu-177) are used for precision imaging and therapy of a particular disease.
To date, the production of Ga-68 radiopharmaceuticals has involved a multi-step approach limiting the number of patient doses produced at any one time. Theragnostics' Ga-68 technology platform enables the production of Ga-68 radiopharmaceuticals in a single multi-dose vial in one simple step. With an ever-increasing number of promising cancer targets radiolabelled with Ga-68, it is important to maximise the Ga-68 supply. With several Ga-68 radiopharmaceuticals being commercialised, the demand for Ga-68 radiopharmaceuticals is rapidly growing and potentially a multi-billion-dollar market.
Greg Mullen, Chief Executive Officer of Theragnostics, said: "Theragnostics' strategy is to develop novel diagnostic imaging agents and targeted radionuclide therapies to improve treatment for a broad range of cancers. This agreement enables us to accelerate the development of our own novel radionuclide therapy and diagnostic portfolio and has the potential to offer new and expanded treatment options to patients in several cancers."
Ken Herrmann, Board Member of Theragnostics, added: "Recent positive data for radioligand therapy in prostate cancer will likely lead to an increased demand of PSMA PET imaging. This agreement with AAA represents another important pathway to meet the potential demand of PSMA PET imaging of patients in need."
About Theragnostics
Theragnostics is a private clinical-stage pharmaceutical company developing precision oncology products for diagnostic imaging agents and targeted radionuclide therapeutics. The Company has completed several proof-of-concept phase I and II clinical trials for different radionuclide diagnostics and targeted therapies and is working on getting FDA approval for a radionuclide generic. For more information, please visit www.theragnostics.com.
View original content:https://www.prnewswire.com/news-releases/theragnostics-announces-licensing-agreement-for-development-and-commercialization-of-one-step-pet-radiopharmaceuticals-301381881.html
SOURCE Theragnostics
