👉 The funds will also be used to launch ITM-11, a Phase III orphan drug for the treatment of neuroendocrine tumors.
👉 ITM uses medical radioisotopes for cancer diagnosis and treatment, and ITM-11 is being evaluated in pivotal Phase III studies.
👉 The radiopharmaceutical market is expected to reach $9.4bn by 2028.
👉 Other pharmaceutical companies have also recently made major investments in radiopharmaceuticals.
#Introduction:
Radiopharma conjugate specialist Isotope Technologies Munich SE (ITM) has raised €188m in equity financing to support the development of its radiopharmaceutical pipeline and expand its manufacturing capabilities. The funding will also be used to prepare for the market launch of its Phase III orphan drug, ITM-11, which is being evaluated for the treatment of gastroenteropancreatic neuroendocrine tumours (GEP-NETs).
- Radiopharma conjugate specialist, ITM, has raised €188m in an equity financing round led by Temasek, with participation from BlackRock, Qatar Investment Authority (QIA), ATHOS, and Carbyne.
- The funding will be used to boost ITM’s radiopharmaceutical pipeline, expand its manufacturing capabilities for Lutetium-177 (Lu-177) and Actinium-225 (Ac-225), and prepare for the market launch of its Phase III drug, ITM-11, for the treatment of GEP-NETs.
- ITM uses medical radioisotopes for the diagnosis and targeted treatment of cancer. ITM-11 is being evaluated in Phase III trials for the treatment of GEP-NETs, and it has received fast track designation from the US FDA.
- Radiopharmaceuticals are a class of cancer therapeutics that deliver radiation directly to the tumor while minimizing exposure to normal tissue. The global radiopharmaceutical market is projected to grow to US$9.4bn by 2028.
- ITM’s equity financing is part of a trend of increasing major investments in radiopharmaceutical companies by pharmaceutical companies. This includes Novartis’ acquisition of Mariana Oncology and Bayer’s collaboration with Bicycle Therapeutics.
Conclusion:
ITM has secured €188m in equity financing to support the development of its radiopharmaceutical pipeline and manufacturing capabilities. The funding will also help ITM prepare for the market launch of its Phase III drug, ITM-11, for the treatment of GEP-NETs. This investment reflects a growing interest in radiopharmaceuticals and their potential for targeted cancer therapy.
