ITM Secures €188m to Boost Radiopharmaceutical Pipeline and Strengthen Lead in Medical Radioisotope Manufacturing

ITM Isotope Technologies Munich SE (ITM), a prominent name in the radiopharmaceutical biotech sector, has announced a significant equity investment of €188 million. This round of funding was spearheaded by Temasek, with additional contributions from BlackRock, Qatar Investment Authority (QIA), ATHOS, and Carbyne. The fresh capital aims to propel the development of ITM's cutting-edge radiopharmaceutical pipeline, particularly focusing on ITM-11, their Phase III lead candidate designed for treating gastroenteropancreatic neuroendocrine tumors (GEP-NETs).

The financial injection will also support ITM's ambitions to scale up manufacturing capabilities, especially for producing high-demand radioisotopes like Lutetium-177 (177Lu) and Actinium-225 (225Ac). By enhancing its production infrastructure, ITM aims to solidify its standing as the leading global supplier of medical radioisotopes. These efforts will bolster ITM's internal Radiopharmaceutical Therapy (RPT) pipeline aimed at tackling various challenging cancer types.

Udo J. Vetter, Chairman of ITM's Supervisory Board, emphasized the strategic importance of this funding. He noted that the investment would not only advance ITM-11 towards commercial readiness but also expand the company's pipeline with innovative medical isotopes, enhancing their capacity to address multiple cancer indications.

Steffen Schuster, CEO of ITM, highlighted the importance of the continued support from their specialized investors. He remarked that the additional equity underscores their confidence in ITM's capabilities to drive significant value in the radiopharmaceutical field. Schuster also pointed out that since their last financing round, ITM has achieved key milestones, including advancing their oncology pipeline, inaugurating the NOVA facility, launching Actineer for Actinium-225 production in collaboration with CNL, and securing high-value supply agreements for Lutetium-177.

ITM's expertise in producing and supplying high-quality medical radioisotopes is a cornerstone of their operations. The company's comprehensive approach involves developing a wide array of targeted radiopharmaceuticals aimed at providing significant medical benefits for patients with difficult-to-treat cancers. ITM-11, their lead candidate, is currently under evaluation in two Phase III clinical trials targeting different grades of GEP-NETs. ITM's leadership in radioisotope manufacturing is not just pivotal for its pipeline but is also a crucial component of the global radiopharmaceutical industry.

Radiopharmaceutical Therapy (RPT) represents a burgeoning class of cancer treatments that focus on delivering radiation directly to tumors while sparing healthy tissue. This targeted approach involves linking therapeutic radioisotopes, such as Lutetium-177 or Actinium-225, to molecules that can specifically identify and bind to tumor cells. This method ensures that the radioisotopes accumulate at the tumor site, emitting ionizing radiation to destroy cancerous tissue with minimal impact on surrounding healthy areas.

ITM Isotope Technologies Munich SE is dedicated to pioneering advancements in radiomolecular precision therapeutics and diagnostics for challenging tumors. The company aims to cater to the needs of cancer patients, clinicians, and partners by maintaining excellence in development, production, and global supply. With a focus on improving patient outcomes, ITM leverages nearly two decades of expertise and a robust global network to provide effective targeted treatments, enhance clinical results, and improve patient quality of life. The company's precision oncology pipeline, bolstered by high-quality radioisotopes and innovative targeting molecules, continues to reflect ITM's commitment to advancing cancer care.