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ITM Builds New Production Site in Munich Area

May 8, 2019

GARCHING, Germany--(BUSINESS WIRE)--May 8, 2019--ITM Isotopen Technologien München AG (ITM), a radiopharmaceutical group of companies, announced today the lease of a new building in Neufahrn near Munich to increase the production capacity of no-carrier-added (n.c.a.) Lutetium-177 and high-purity (n.c.a.) Lutetium-177 containing radiopharmaceuticals. Lutetium-177, known under the brand name EndolucinBeta ®, is an innovative medical isotope that has been used successfully in cancer therapy. With the expansion, ITM is following its sustained growth path, which aims to meet the growing worldwide demand for high quality medical isotopes for precision oncology.

The long term lease of the approximately 5000 m 2 building in the NOVA industrial estate offers ideal conditions for ITM. In addition to the construction of a production unit with clean rooms, laboratories, and additional storage capacity it will provide office space for up to 140 employees under one roof. With its direct and fast connection to the airport the new site offers ideal conditions for the distribution of the therapeutic isotopes and radiopharmaceuticals via the company´s worldwide logistic network.

The construction of the facility for the production of medical isotopes has already begun. Further planning envisages that the employees will move into the new premises in autumn 2019. In 2020, the construction of the production unit used to produce radiopharmaceuticals containing Lutetium-177 will begin and is expected to be completed in 2021.

“We are very pleased with the opportunities that the new location offers,” says Steffen Schuster, CEO of ITM. “The newly acquired space in the immediate vicinity of our head office is ideally suited for the development of new production capacities. The excellent infrastructure provides ideal conditions for delivering our high purity medical isotopes and radiopharmaceuticals to hospitals worldwide. The increase of the production capacity is in line with our strategy of sustainable global growth and our long term goal to ensure patient care through our world-class medical isotopes and radiopharmaceuticals for targeted cancer therapy worldwide.”

View source version on businesswire.com:https://www.businesswire.com/news/home/20190508005419/en/

CONTACT: Contact

Nicola Scharrer

Head of Marketing

Phone: +49 89 3298986-151

Email:Nicola.Scharrer@itm.agMedia Contact: WE Communications

Sebastian Klein

Account Manager

Phone: +49 89 628175-46

Email:ITM_AG@we-worldwide.com

KEYWORD: EUROPE GERMANY

INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CLINICAL TRIALS PHARMACEUTICAL RADIOLOGY RESEARCH SCIENCE

SOURCE: ITM

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PUB: 05/08/2019 07:13 AM/DISC: 05/08/2019 07:13 AM

http://www.businesswire.com/news/home/20190508005419/en