Radiopharm (ASX:RAD) strengthens cancer fight with SHINE Technologies deal - Kalkine Media

Highlights

• Radiopharm has entered a clinical supply agreement with SHINE Technologies.
• US-based SHINE will supply isotope non-carrier-added lutetium-177 (Lu-177) to Radiopharm.
• Radiopharm will use the cancer-fighting medical isotope in its clinical programs.

Radiopharm Theranostics (ASX:RAD) has taken a vital step to advance its clinical programs targeted at developing cancer treatment.

The ASX-listed oncology player has entered a clinical supply agreement with SHINE Technologies. Under the agreement, SHINE, a next-generation fusion technology company, will supply isotope non-carrier-added lutetium-177 (Lu-177) to Radiopharm.

SHINE Technologies is a US-based company, and its proprietary isotope production processes produce molybdenum-99 and n.c.a. Lu-177. Each of these is used in different diagnostic and therapeutic medical procedures.

The firm delivers safe, cost-effective, and environmentally friendly systems for use in industrial imaging of components across various sectors including medicine, energy, aerospace, defence, and transport.

Cancer-Fighting Medical Isotope

Lu-177 is an important isotope, and Radiopharm will use it in several programs across its portfolio. It will be used to develop the company’s clinical pipeline of diagnostic and therapeutic radiopharmaceutical products.

Chris Vessell, general manager of SHINE’s Therapeutics Division, said, “We are excited that our isotopes will play a critical role in Radiopharm Theranostics’ programs that aim to revolutionise cancer treatment.”

He added that SHINE envisions to be the only vertically integrated producer of Lu-177 in the industry. Despite current limitations to the supply chain, the US-based firm aims to offer a scalable and reliable supply of Lu-177.

Radiopharm Ventures

Last week, Radiopharm, along with The University of Texas MD Anderson Cancer Center (MD Anderson), announced the launch of Radiopharm Ventures, LLC. The joint venture company has been established to develop novel radiopharmaceutical therapeutic products for cancer.

The joint venture will bring together Radiopharm’s expertise in developing radiopharmaceutical products with antigen discovery and molecular imaging techniques of MD Anderson.

Stock information

Radiopharm has a market capitalisation of AU$44.70 million. The share price of the company stood at AU$0.180 apiece midday on 21 September 2022, up nearly 3% from the last close.