POINT Biopharma acquires next generation prostate cancer radiotherapeutic
TORONTO and MUNICH, Germany, March 10, 2020 (GLOBE NEWSWIRE) -- POINT Biopharma Inc. today announced that it has entered into an agreement with SCINTOMICS GmbH for the exclusive use and development of a family of more than seventy patented next generation PSMA radioligands for targeted radiotherapy of prostate cancer. Under the terms of the agreement, POINT has acquired both North American and broad international rights to the compounds. SCINTOMICS is eligible to receive milestone payments and royalties over the life of the collaboration.
The announcement of this acquisition complements POINT Biopharma’s PNT 2002 clinical program set to begin in 2020.
According to Michael Gottlieb, POINT Biopharma’s Chief Commercial Officer, “The breadth of this acquisition provides POINT with a clear strategic pathway of patient focused differentiation. POINT is committed to novel treatments and continued innovation of radiopharmaceutical assets.”
Joe McCann, POINT Biopharma CEO adds, “We are excited to bring these compounds to patients. We anticipate commencement of a phase 1/2 clinical program in 2021.”
Saskia Kropf, SCINTOMICS CEO stated, “We are delighted that in POINT Biopharma we have found an excellent partner for the clinical development of this unique targeting technology. We are certain that in the experienced leadership team from North America and Europe, POINT is well equipped to make this innovative radioligand therapy rapidly accessible to prostate cancer patients."
Dr. Vikas Prasad, (Vice Chair and Senior Physician Department of Nuclear Medicine University Hospital of Ulm Germany) a scientific advisor to POINT Biopharma adds, “Radiomolecular compounds for prostate cancer diagnosis and treatment have been used in Germany for many years with much success. They are positioned to revolutionize the global treatment landscape for patients around the world.”
About POINT Biopharma
POINT Biopharma is a globally focused radiopharmaceutical company with a growing portfolio of best in class radiopharmaceutical assets. POINT is combining a seasoned management team with strategic partnerships in radio-isotope supply, manufacturing technology and novel direct to patient targeting to revolutionize radiopharmaceutical drug development and commercialization. Working closely with its scientific advisors, the Company anticipates commencement of its clinical trial programs in 2020.
About Scintomics GmbH
Scintomics, a privately held company based in Fuerstenfeldbruck/Munich, is committed to targeted theranostics and corresponding radiopharmaceutical technologies. Its strong focus towards personalized cancer care is reflected by an exceptional and continuous growing portfolio of functional diagnostics and radiotherapeutics and the clinical development of theranostics through subsidiaries, joint ventures and alliances.