Endocyte and ITM Announce Long-Term Supply Agreement for No-Carrier-Added Lutetium-177
WEST LAFAYETTE, Ind. & GARCHING, Germany--(BUSINESS WIRE)--Jul 9, 2018--Endocyte, Inc. (Nasdaq:ECYT), and ITM Isotopen Technologien München AG (ITM), a group of specialized radiopharmaceutical companies, announced today that ITM´s subsidiary, Isotope Technologies Garching GmbH (ITG), and Endocyte have signed a long-term global supply agreement for the highly purified, no-carrier-added Lutetium-177 ( 177 Lu) EndolucinBeta ® to support clinical and commercial supply of 177 Lu-PSMA-617, through 2035.
“We are pleased to secure this long-term strategic partnership to ensure a reliable supply of no-carrier-added Lutetium-177 through commercialization,” said Mike Sherman, president and CEO of Endocyte. “This agreement broadens and extends the supply agreement with ITG that we established earlier this year, supporting our ongoing phase 3 VISION trial of177Lu-PSMA-617 for the treatment of advanced prostate cancer.”
Under the terms of the supply agreement, ITG will provide Endocyte with 100% of the Lutetium-177 required for the phase 3 VISION trial. ITG also will provide at least 50% and up to 100% of commercial supply at Endocyte’s request. Endocyte will pay €5 million up-front to support the company´s ongoing expansion of worldwide manufacturing capacity for Lutetium-177. Additional terms of the agreement are not disclosed.
“We are pleased to extend our collaboration with Endocyte as a trusted partner while they develop this important potential therapy for patients with advanced prostate cancer,” said Steffen Schuster, CEO of ITM. “We believe ITM is already well positioned to support the completion of Endocyte’s VISION trial and we are preparing to support the potential global commercialization of this therapy. With multiple manufacturing facilities around the world and an unrivaled logistics network, we are confident we will reliably meet the needs for this significant opportunity.”
View source version on businesswire.com:https://www.businesswire.com/news/home/20180709005502/en/
CONTACT: Endocyte Investor Contact:
Stern Investor Relations, Inc.
Phone: (212) 362-1200
ITM Media Contact:
Head of Marketing
Phone: +49 89 3298986-16
KEYWORD: UNITED STATES EUROPE NORTH AMERICA INDIANA GERMANY
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY GENETICS ONCOLOGY PHARMACEUTICAL RADIOLOGY PROFESSIONAL SERVICES FINANCE
Copyright Business Wire 2018.
PUB: 07/09/2018 09:25 AM/DISC: 07/09/2018 09:25 AM