NEW YORK – Radiopharmaceutical company ITM Isotope Technologies Munich and BAMF Health on Thursday said they inked a deal to advance the development and use of targeted radionuclide therapies and diagnostics in oncology.
ITM is developing targeted radiopharmaceuticals for various cancers. There are two Phase III trials underway evaluating its lead product, ITM-11, as a monotherapy or with Novartis' Afinitor (everolimus) in patients with somatostatin receptor-positive neuroendocrine tumors of gastroenteric or pancreatic origin.
BAMF, which stands for Bold Advanced Medical Future, opened its flagship location in Grand Rapids, Michigan, to patients in 2022. It includes a cyclotron-equipped radiopharmacy, a molecular imaging clinic, and a theranostic clinic. The firm aims to develop a network of such clinics where radiodiagnostics and treatments developed by ITM and others can be manufactured on site, and patients with cancer and other diseases will have same-day access to treatments and tests.
In the collaboration, ITM will contribute its knowledge of the radiopharmaceutical development process and the global supply of diagnostic and therapeutic radioisotopes to support BAMF in its bid to develop this infrastructure for developing and delivering radionuclide therapy. "BAMF has the infrastructure in place to provide on-site manufacturing, diagnosis, and treatment, which we are happy to support through our expertise in executing the whole theranostic development and production process bringing high-quality diagnostics and treatments to patients," ITM CEO Steffen Schuster said in a statement. "By combining our complementary capabilities with BAMF's, we aim to positively impact the treatment options for cancer patients and demonstrate the enormous potential of nuclear medicine."
The companies did not disclose the financial details of their deal.