Radiopharm (ASX:RAD) partners with NorthStar for key medical radioisotope

2 min read | October 27, 2022 11:41 AM AEDT | By Aditi Sarkar

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Radiopharm (ASX:RAD) partners with NorthStar for key medical radioisotope — Image source: © Eric1513 | Megapixl.com

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Highlights

Radiopharm has secured a key supply agreement with Northstar, ensuring unimpeded clinical development.

Actinium-225 is a major asset required to develop several radiopharmaceutical products within Radiopharm’s broad portfolio of technologies.

Radiopharm will own all data generated and all inventions and discoveries made or devised from its clinical trials.

Radiopharm Theranostics (ASX:RAD) has taken another step towards ensuring the smooth running of its clinical development. The Australian oncology space player has joined hands with NorthStar Medical Radioisotopes, LLC for securing Actinium-225.

This is the second supply agreement by Radiopharm for Actinium-225. Earlier, the company entered into a supply agreement with Isotopia Molecular Imaging for Lutetium-177 N.C.A.

Actinium-225, which is key to development of several radiopharmaceutical products within Radiopharm’s broad portfolio of technologies, will be used in drug trials involving targeted alpha therapy in several disease areas.

NorthStar is a commercial-stage nuclear medicine company involved in producing and distributing diagnostic and therapeutic radioisotopes and radiopharmaceuticals. Backed by its state-of-the-art technology and proven management team, NorthStar is at the forefront of U.S. medical radioisotope production. It is the sole domestic producer of the diagnostic imaging radioisotope molybdenum-99 (Mo-99).

Using first-in-kind and environmentally-sound electron accelerator technology, NorthStar states that it is poised to be the first commercial-scale producer of therapeutic radioisotopes actinium-225 (Ac-225) and copper-67 (Cu-67).

Data source: Company update
© 2022 Kalkine Media®

According to NorthStar CEO Stephen Merrick, the company is looking forward to applying its state-of-the-art production technology to bring n.c.a. Actinium-225 to the team at Radiopharm Theranostics. The partnership aims to develop revolutionary, environmentally preferable therapeutic radiopharmaceuticals, holding enormous potential to benefit patients with serious diseases.

Data source: Company update
© 2022 Kalkine Media®

Recently, Radiopharm launched an entitlement offer of up to AU$10 million to accelerate its clinical development programs. The company anticipates having five fully funded Phase 1 clinical trials underway by the start of 2023.

At the time of writing this article, the share price of Radiopharm stood at AU$0.115 apiece.

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