POINT Biopharma and IONETIX Announce Ac-225 Supply Agreement
Supply agreement enables development of POINT’s next-generation Ac-225-based radioligand therapies.
INDIANAPOLIS and TORONTO, Nov. 09, 2021 (GLOBE NEWSWIRE) — POINT Biopharma Global Inc. (NASDAQ: PNT), a company accelerating the discovery, development, and global access to life changing radiopharmaceuticals, and IONETIX Corporation, a leading cyclotron technology and isotope manufacturing company, announced today a long-term supply agreement for actinium-225 (Ac-225) to support POINT’s validation, drug development, and clinical trials for Ac-225-based radiopharmaceuticals.
To create the most effective radiopharmaceutical therapies, POINT’s clinical development strategy focuses on matching the right radioisotope with the right target. POINT plans to use Ac-225 in investigational studies of PNT2001, a next-generation Prostate-Specific Membrane Antigen (PSMA) directed radioligand for non-metastatic castrate-sensitive prostate cancer (nmCSPC) and PNT2004, a Fibroblast Activation Protein-α inhibitor candidate with potential pan-cancer applications.
“Utilizing the best isotope for the job is a core philosophy at POINT,” said Dr. Joe McCann, CEO of POINT Biopharma. “Our partnership with IONETIX further strengthens our robust radioisotope supply chain and continues to advance our next-generation radiopharmaceutical platform. We are actively investing in technologies such as our CanSEEK tumor microenvironment prodrug technology to further extend the usage of potent alpha emitting medical isotopes like Ac-225, as we believe they have a key role to play in the future of radiopharmaceuticals.”
“Radiopharmaceuticals have the potential to be a life-changing and life-saving cancer treatment option to which IONETIX can make great contributions,” said Kevin Cameron, Chairman of IONETIX. “Our proprietary cyclotron technology and growing distribution network, positions us to deliver alpha radionuclide therapeutics that would otherwise not be possible. Alpha radionuclides like astatine-211 and actinium-225 hold significant promise for radiopharmaceuticals, and we are proud to help enable POINT to deliver new, potentially life-altering therapies.”
To learn more about Ac-225 as well as other medical isotopes, attend POINT’s inaugural educational webinar on Dec 6, 2021 – register online at https://hub.pointbiopharma.com/dec2021.
About IONETIX
IONETIX is a US-based cyclotron and technology company founded in 2009. Utilizing a proprietary cyclotron technology platform, Ionetix is focused on developing innovative accelerator solutions for the production and distribution of radioisotopes used for both diagnostic and therapeutic radiopharmaceuticals. Ionetix offers turnkey services for the point-of-care supply of the diagnostic positron emission tomography (PET) radiopharmaceutical N-13 Ammonia. Ionetix is now expanding its services to include the supply of therapeutic alpha isotopes used in radiopharmaceuticals being developed to treat various cancers. Located in Lansing, Michigan, Ionetix is establishing the first dedicated alpha isotope manufacturing and distribution facility to produce alpha isotopes Actinium-225 (Ac-225) and Astatine-211 (At-211). https://www.ionetix.com/
About POINT Biopharma
POINT Biopharma Global Inc. is a globally focused radiopharmaceutical company building a platform for the clinical development and commercialization of radioligands that fight cancer. POINT Biopharma Global Inc. is combining a portfolio of best-in-class radiopharmaceutical assets, a seasoned management team, expertise in radioisotopes such as Actinium-225 (Ac-225) and Lutetium-177 (Lu-177), and industry-leading manufacturing capabilities and supply chain to revolutionize theragnostic drug development and radioligand commercialization. Learn more about POINT Biopharma Global Inc. at https://www.pointbiopharma.com. Information about POINT Biopharma Global Inc.’s Phase 3 SPLASH trial for metastatic castrate resistant prostate cancer (mCRPC) patients can be found at https://www.splashtrial.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Forward-looking statements in this press release include, but are not limited to, statements regarding the benefits of the recently completed business combination, as well as statements about the potential attributes and benefits of POINT’s product candidates and the format and timing of POINT’s product development activities and clinical trials. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, the outcome of any legal proceedings that may be instituted against POINT following the closing of the business combination, the risk that the business combination disrupts current plans and operations, the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of POINT to grow and manage growth profitably and retain its key employees, the impact of COVID-19 on POINT’s business, the ability to maintain the listing of POINT’s common stock on the NASDAQ, changes in applicable laws or regulations, the possibility that POINT may be adversely affected by other economic, business, and/or competitive factors, and other risks and uncertainties, including those described in POINT’s S-1 registration statement filed with the SEC on July 30, 2021. Most of these factors are outside of POINT’s control and are difficult to predict. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
Company Contact:
Ari Shomair
media@pointbiopharma.com
(647) 812-2417
Investor Relations Contact:
Alex Lobo
Stern Investor Relations
investors@pointbiopharma.com
