520 million-euro deal for ITM to bring radiotherapy to greater China

German radiopharmaceutical biotech ITM Isotope Technologies has entered into an exclusive licensing agreement with China-based Grand Pharmaceutical Group (GP) to develop, manufacture and commercialize ITM’s oncological radiopharmaceutical candidates, ITM-11 ( n.c.a. 177Lu-edotreotide) and ITM-41 ( n.c.a. 177Lu-zoledronate) as well as the diagnostic TOCscan ( 68Ga-edotreotide) in the territory of mainland China, Hong Kong, Macau and Taiwan.

Under the terms of the  accord, ITM grants GP an exclusive license for the named products in the licensed territory and will support the supply of the pharmaceutical materials needed to conduct clinical and commercial activities. GP will be responsible for clinical development, regulatory activities and commercialization of these products in the licensed geographies. ITM is eligible for a significant upfront payment as well as potential aggregate regulatory and commercial milestone payments totalling up to around 520 million euros ($588 million) in addition to tiered royalties.

Strengthens global footprint in Asian regions