ASX-listed Radiopharm Theranostics has joined forces with a renowned global radiopharmaceutical manufacturer to produce its cancer-fighting treatment that targets commonly over-expressed protein in human tumours.
The company’s agreement with Canadian-based AtomVie Global Radiopharma has been cemented via Radiopharm Ventures – a joint venture (JV) it shares with the highly-regarded MD Anderson Cancer Centre in Texas in the United States. The new partnership has been set to manufacture commercial quantities of Radiopharm’s “177Lu-BetaBart” radioantibody that has been designed to target the “B7-H3” protein.
The news comes just a fortnight after Radiopharm revealed it had moved a step closer to locking in investigational new drug (IND) approval for its treatment by submitting a pre-IND meeting request with the powerful US Food and Drug Administration (FDA).
Management is eying a mid-next year roll-out for phase one and two human trials for BetaBart to test the antibody on solid tumours in patients in the US once it gets the green light from the FDA.
Radiopharmaceuticals is a cutting-edge technology in the field of oncology, with the B7-H3 protein garnering increasing attention from the antibody-based cancer immunotherapy crowd because of its close association with aggressive tumours and the poor outcomes of other therapies.
By attaching microscopic doses of radiation, in the form of an isotope called 177-Lutetium, to an antibody that is attracted to the B7-H3 protein and its subtype 4Ig, BetaBart is able to attack individual cancer cells. The antibody has been specifically engineered to cope with a shorter blood circulation time and without causing lasting damage to the surrounding tissues.
Radiopharm Theranostics managing director and chief executive officer Riccardo Canevari said: “Our collaboration with AtomVie is a significant step forward in our mission to bring innovative radiopharmaceutical therapies to patients. Their proven track record in manufacturing and global distribution assures us that we are in capable hands as we progress through the clinical stages and prepare for potential commercialisation.”
As a leader in radiopharmaceutical contract development and manufacturing, AtomVie is Radiopharm’s partner of choice and critical to its future plans to supply, process and distribute big volumes of cancer-fighting treatments to the market. Its new state-of-the-art, 72,300-square-feet facility is also scheduled to open early next year, at which point it will be able to provide the necessary infrastructure to support the expected growing global demand for Radiopharm’s products.
Radiopharmaceuticals is a red-hot sector in the investment market right now. In the past three years, global monster deals have landed in the sector, including AstraZeneca’s acquisition of Fusion for US$2.4 billion, Bristol Myers Squibb’s purchase of Rayze Bio for US$4.1 billion and Eli Lilly taking out Point Biopharma for US$1.4 billion.
And closer to home, ASX-listed Clarity Pharmaceuticals has recently topped the charts as the best performing stock in the biotech sector, with its share price running up 900 per cent in the previous year and its market capitalisation jumping to more than $2 billion. Radiopharm shareholders will be hoping the company’s strategic new move will be a catalyst to help it follow suit.
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By James Pearson
