Radiopharm Theranostics has linked up with US-based nuclear technology specialist SHINE Technologies to ensure supply of a key component of the Melbourne-based company’s radiopharmaceutical products.
The two have entered into a clinical supply agreement for the supply of Lu-177 – an important cancer-fighting isotope used in multiple programs across Radiopharm’s portfolio.
ASX-listed Radiopharm is developing a clinical pipeline of diagnostic and therapeutic radiopharmaceutical products to defeat cancer. SHINE, based in Wisconsin, is a next generation nuclear fusion technology company using its expertise in nuclear technology to address problems in the medical, aerospace, defence and energy manufacturing industries.
Its ultimate goal is to achieve clean, abundant, commercially viable fusion-based energy production – the holy grail of clean energy that has so far evaded scientists for decades.
One of the four phases laid down by its founder, Greg Piefer, on the pathway to generating unlimited and affordable energy is the production of medical isotopes. SHINE is an emerging player in this space and has developed a proprietary isotope production process that creates both molybdenum-99 and non-carrier-added Lu-177.
Both are used in multiple diagnostic and therapeutic medical procedures.
Radiopharm’s CEO and Managing Director, Riccardo Canevari said: “Lutetium-177 is required for three of our more advanced assets and this clinical supply agreement with SHINE, an experienced player in nuclear technology, is another important step in de-risking our business plan.”
“Ensuring supply of key isotopes continues to be a priority for our team, allowing us to accelerate our clinical programs unimpeded.”
SHINE management said it was excited its isotopes will play a critical role in Radiopharm’s programs to revolutionise cancer treatment.
“SHINE’s efforts in lutetium-177 are all about prolonging the lives of those affected most directly,” said Chris Vessell, General Manager of SHINE’s Therapeutics Division.
As technology helps medicine solve unmet needs, notably in the area of fighting cancer, the medical technology sector has experienced exponential growth – with much more to come.
The CSIRO has predicted the sector will be worth a staggering $1 trillion by 2025 and both SHINE and Radiopharm Theranostics aim to be in the mix.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
