POINT Biopharma Corp.

LANSING, Mich., Aug. 7, 2024 /PRNewswire/ -- IONETIX Corporation ("Ionetix"), a leading cyclotron technology innovator and isotope manufacturer for diagnostic and therapeutic applications, announced a financing which included Eli Lilly and Company, as well as existing shareholders of the Company led by Tees River Limited. The financing follows prior Actinium supply and convertible debt agreements with POINT Biopharma, which has since been acquired by Lilly. The financing underscores the robust strategic interest in Ionetix's differentiated technology and the Company's continued leadership in isotope manufacturing. "We are excited to expand our pre-existing relationship with POINT to include this new financing from Lilly," said Kevin Cameron, Chief Executive Officer of Ionetix. "Having successfully produced Actinium-225 earlier this year, we are well-positioned to help researchers and drug developers to pursue these promising new cancer therapies." "Our experience with other critical resources enabled us to understand the significant supply constraints facing the growing radiotherapeutic space," said Sean Benson, Founder and Chief Investment Officer of Tees River. "We are pleased to further support Ionetix as they scale supply of cyclotron-produced alpha-emitters." With this financing, the company meaningfully extends its cash runway to fund continued development of its core technology offerings and expansion of the current cyclotron network in support of its strategic growth plans in the late-stage clinical and commercial settings. Capitalizing on the growth derived from new therapeutics programs, Ionetix aims to fill the market need resulting from the capacity-constrained isotope manufacturing landscape. PJT Partners is acting as exclusive financial advisor and placement agent to Ionetix. Foster Swift Collins & Smith serves as legal advisor to Ionetix in connection with the financing. About IONETIX Utilizing its proprietary cyclotron technology platform, IONETIX has developed innovative solutions that enable access to scarce radioisotopes used for both diagnostic and therapeutic radiopharmaceuticals. IONETIX offers both high-purity Actinium-225 (Ac-225) and Astatine-211 (At-211) for use in targeted alpha therapies.  IONETIX also provides N-13, F-18 and Ga-68 for diagnostic imaging. Its distribution supply chain includes contract drug manufacturing and "white glove" distribution logistics, allowing global access to these imaging agents and targeted radiotherapies.  For more information, visit About Tees River Tees River is a long-biased asset manager located in London. We are investment specialists in both the Clean Energy Transition with a focus on commodities, and the producers of undersupplied Isotopes that are critical for Medical and Energy & Power markets, alongside developers of technologies in these areas. Our investments include high profile projects that contribute to achieving Net Zero, as well as supporting the production of Radioisotopes essential for improved Cancer treatments. We manage three funds: a Uranium and Nuclear Power strategy, a pan-commodity Critical Resources strategy, and a dedicated Medical and Energy Isotopes strategy. Tees River is supported by a prestigious Family Office, and our investors include global Family Offices, Asset Managers, and UHNWs. Please see our website at and follow our updates on LinkedIn. CONTACT: Peter Burke, [email protected] SOURCE IONETIX

Telix already has an FDA-approved imaging agent, a gallium-68 gozetotide injection marketed under the brand name Illuccix. Image credit: Shutterstock / Ezume Images. A day after announcing a $400m convertible bond offering, Telix Pharmaceuticals has had a new drug application (NDA) accepted by the US Food and Drug Administration (FDA) for prostate cancer imaging agent TLX007-CDx. The agency has set a prescription drug user fee act (PDUFA) goal date of 24 March 2025, as per a 24 July press release. Radiopharmaceutical specialist Telix said its objective is to further enhance patient access to prostate-specific membrane antigen (PSMA) PET imaging. PSMA is a protein specific to prostate cancer cells, and the test can detect increased areas of its uptake in cells by linking it with a radioisotope. The technique is seen as superior to conventional imaging methods for prostate cancer tracking, but issues with accessibility and regulatory requirements mean many prostate cancer patients do not undergo the scan. Telix’s TLX007-CDx is a so-called “cold kit” to prepare PSMA-PET imaging. The Australia-based company said the kit can help with PSMA imaging product utilisation at locations that are not close to a nuclear pharmacy, a requirement for many current gallium-68 agents. See Also: Agilent agrees to acquire BIOVECTRA for $925m Ergomed sees highest patent filings and grants during May in Q2 2024 There are currently around 350-450 certified nuclear pharmacists in the US. Cardinal Health operates the largest radiopharmaceutical network in the country. The kit is designed to facilitate more flexible production and includes higher activity gallium-68. Telix already has an FDA-approved imaging agent, a gallium-68 gozetotide injection marketed under the brand name Illuccix. The company’s group CEO Dr Christian Behrenbruch said the filing acceptance for the cold kit is a step towards “improving equity of access”. Behrenbruch added: “We now look forward to working with the FDA to bring TLX007-CDx to American men living with prostate cancer, including those residing in underserved communities and regions where access to state-of-the-art imaging remains limited.” As Telix waits for the FDA review, it has set its sights on label expansions for its other diagnostic imaging agents. On 23 July, Telix offered $398m in convertible bonds , which will be used to fund the necessary studies and pivotal trials for kidney and brain cancer therapy programmes. Currently listed on the Australian Securities Exchange, Telix had been planning on going public on Nasdaq earlier this year. The company U-turned on the IPO , however, citing market conditions at the time. Eli Lilly has joined Telix in the growing radiopharmaceutical space, acquiring POINT Biopharma in a $1.4bn deal in October 2023. The drugmaker then partnered with Radionetics Oncology in a $140m deal earlier this month, which included an exclusive option to acquire the partner for $1bn. Bristol Myers Squibb and Novartis have also conducted their own radiopharma acquisitions for $4.2bn and $1.75bn respectively in the past year.

Eli Lilly, BMS, and Novartis have all conducted billion-dollar deals to claim a stake in the promising radiopharma space. Image credit: Shutterstock / Love Employee. Not long after pulling a last-minute plug on a $232m initial public offering (IPO) on Nasdaq , Telix Pharmaceuticals has raised $398m (A$600m) via the issue of convertible bonds. The bonds, which are convertible into ordinary shares, will yield a 2% – 2.75% interest, the radiopharmaceutical specialist said in a 23 July press release. The maturity date is set for five years from now, at the end of July 2029. Australia-based Telix said it intends to list the convertible bonds on the Official List of Singapore Exchange Securities Trading Limited (SGX-ST). While Telix had been planning on going public on Nasdaq earlier this year, the company U-turned on the IPO citing market conditions at the time. Telix had been on course to raise $232m in the listing, though the company maintained that the decision was not “predicated on the need to raise capital”. Instead, the convertible bonds bring low-cost financing to the company which is non-dilutive until future conversions. The initial conversion price will be set at a 30% –35% premium to Telix’s current share price on the Australian Securities Exchange, where it is currently listed. See Also: MHRA approves Pfizer-BioNTech’s Comirnaty JN.1 vaccine Pipeline power: Sionna’s AbbVie deal could redefine CF therapeutics Telix said the funds will be used to conduct label expansion studies for diagnostic imaging agents, as well as pivotal trials for kidney and brain cancer therapy programmes. Telix inched closer to a marketed kidney asset after it submitted a biologics license application (BLA) to the US Food and Drug Administration (FDA) for a radio-diagnostic PET1 agent, TLX250-CDx (89Zr-DFO-girentuximab) in early June this year. A lutetium-based therapeutic candidate is also currently in a Phase II trial. TLX101 and TLX101-CDx make up the company’s brain cancer pipeline. TLX101 is currently in Phase I (NCT05450744) and Phase II trials while a new drug application is being prepared for TLX101-CDx. The latter has been awarded fast track designation from the FDA as there are currently no targeted PET imaging agents for gliomas that have been approved. Telix also has assets in prostate cancer, soft tissue sarcoma, and bone marrow conditioning. Telix group CEO Dr Christian Behrenbruch said: “The announced offering will provide additional financial flexibility to execute on our strategic priorities and capitalise on future opportunities in the rapidly growing radiopharmaceuticals market.” The arena is becoming more crowded as the radiopharmaceutical modality yields increasing therapeutic promise. Eli Lilly has made no secret of its push into the space, acquiring radiopharmaceutical specialist POINT Biopharma in a $1.4bn deal in October 2023. The drugmaker then linked up with Radionetics Oncology in a $140m deal earlier this month, which included an exclusive option to buy the partner for $1bn. Bristol Myers Squibb and Novartis have also conducted their own radiopharma acquisitions for $4.2bn and $1.75bn respectively in the past year.