ITM receives a capital investment of 25 million euros from its strategic partner Grand Pharma

  • The investment agreement strengthens the strategic alliance between the two companies while supporting ITM in the development of its radiopharmaceutical pipeline and its presence in Asia

  • The capital investment follows a recent €520 million license agreement allowing Grand Pharma (GP) to access three of ITM’s targeted candidate therapeutic and diagnostic radionuclides for Greater China

MUNICH & HONG KONG, February 16, 2022–(BUSINESS WIRE)–ITM Isotope Technologies Munich SE (ITM), a leading radiopharmaceutical biotechnology company and Large Pharmaceutical Group Limited (GP), a Hong Kong-listed diversified global pharmaceutical company, today announced that ITM and a subsidiary of GP have entered into a definitive agreement under which GP will invest €25 million ($28 million) in ITM . The agreement will further deepen the strategic collaboration between the two companies and help ITM further expand its extensive portfolio of precision oncology treatments and diagnostics in Greater China.

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The equity investment follows the recent license agreement between the two companies which grants GP the exclusive rights to develop, manufacture and commercialize ITM’s precision oncology radiopharmaceutical candidates, ITM-11 (nec 177Lu-edotreotide) and ITM-41 (nec 177Lu-zoledronate) as well as ITM-11’s companion diagnostic, TOCscan® (68Ga-edotreotide) in mainland China, Hong Kong, Macau and Taiwan.

We believe GP’s investment reinforces our position as a global leader as a developer and manufacturer of radiopharmaceuticals while providing us with additional strategic support to expand our presence in Asia with a recognized leader at our side,” commented Steffen Schuster, President and CEO of ITM. “As we focus on advancing the advanced development of our lead candidate, ITM-11 in NET-GEP patients, we look forward to further enhancing our global footprint to meet the needs of a growing patient population requiring precision oncology treatments. »

“Targeted therapies and diagnostics using radionuclides are a priority area for us. We believe that ITM, as one of the largest medical radioisotope manufacturers with a broad clinical pipeline and deep understanding of the clinical landscape, has the ability to usher in a new era. precision medicine, said Frank Zhou, general manager of GP. “This second agreement is testament to the strong relationship we have built, sharing the common goal of providing innovative, high-quality radiopharmaceuticals to the patients we serve.”

ITM draws on a long experience in the production and supply of high quality medical radioisotopes for the treatment and diagnosis of cancer with an established global supply network. The company has integrated upstream to develop a broad portfolio of targeted radionuclide diagnostics and therapeutics designed to provide medical benefits for hard-to-treat cancer indications. The company’s lead candidate, ITM-11 (nec 177Lu-edotreotide) is being developed for the treatment of gastroenteropancreatic neuroendocrine tumors (GEP-NETs) and is currently the subject of two Phase III clinical trials, COMPETE for patients with grade 1 and Grade 2 and COMPOSE for Grade 2 and Grade 3 GEP-NETs. TOCscan® (68Ga-edotreotide) is the companion diagnostic to ITM-11 for the diagnosis and staging of neuroendocrine tumors (NETs). ITM-41 (nec 177Lu-zoledronate) is in preclinical development for the treatment of osteosarcoma and bone metastases.

– To finish –

About Targeted Radiation Therapy

Targeted radionuclide therapy is an emerging class of cancer therapies, which seeks to directly irradiate the tumor while minimizing radiation exposure to normal tissue. Targeted radiopharmaceuticals are created by attaching a therapeutic radioisotope to a targeting molecule (eg, peptide, antibody, small molecule) that can accurately recognize tumor cells and bind to tumor-specific entities such as than receptors that are expressed on the cell surface. As a result, the radioisotope accumulates at the tumor site and decays, releasing a small amount of ionizing radiation, thereby destroying the tumor tissue. The very precise localization of the radioisotope potentially allows targeted treatment with minimal impact on surrounding healthy tissue.

ITM Isotope Technologies Munich SE

ITM, a radiopharmaceutical biotechnology company, is dedicated to providing the most accurate cancer radiation therapies and diagnostics to meet the needs of patients, clinicians and our partners through excellence in development, manufacturing and global supply. . With patient benefit as the driving principle of everything we do, ITM is advancing a broad pipeline, including two Phase III studies, combining its high-quality radioisotopes with targeting molecules to develop precision oncology treatments. IMT leverages its leadership and nearly two decades of radiopharmaceutical expertise combined with its global network to enable nuclear medicine to reach its full potential to help patients live better, longer lives. For more information, please visit: www.itm-radiopharma.com.

About Grand Pharmaceutical Group Limited:

Grand Pharmaceutical Group Limited (0512.HK) is a diversified global pharmaceutical company. The company sticks to the core values ​​and principles of patient-centered, market-oriented and innovation-driven. GP has extensive capabilities in R&D, manufacturing and marketing of pharmaceuticals, advanced medical devices, active pharmaceutical ingredients, biotechnology products and nutritional products. Its core product portfolio covers several major therapeutic areas, including cerebro-cardiovascular, respiratory and ENT emergencies (“ENT”) as well as ophthalmic treatments and selective internal radiation therapy for the treatment of tumors. GP’s global pipeline of innovative products is well established and diverse, spanning precision intervention, oncology, severe and respiratory anti-infection and ENT. With the strategy of “global expansion and dual-cycle operation”, GP has formed a new pattern of domestic and international cycles that synergize with each other. GP dedicated to health and dedicated to science through R&D and M&A activities. GP keeps its promises to doctors and patients and does its best to make a meaningful contribution to our society. For more information, please visit the GP website at www.grandpharm.com.

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contacts

Contact ITM
Business communication
Julia Hofmann / Susanne Karlsson
Telephone: +49 89 329 8986 1502
Email: [email protected]

ITM Media Requests
Trophic communications
Stephanie May or Valeria Fisher
Telephone: +49 171 185 56 82
Email: [email protected]

Investor Relations
Ben Orzelek
Telephone: +49 89 329 8986 1009
Email: [email protected]

Contact with Grand Pharma investors
Liu Hu
Investor Relations Director
Telephone: +86 13554101540
Email: [email protected]

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