ITM Isotope welcomes new investors in 255 million-euro funding
German radiopharmaceutical biotech ITM Isotope Technologies has announced an equity investment round of 255 million euros ($273 million) led by Temasek.
The round, which also has BlackRock Alternatives, Qatar Investment Authority, Nextech, ATHOS and Carbyne as participants, is comprised mostly of primary capital alongside a minority transaction of secondary shares.
Primary net proceeds to the company will support further development of ITM’s broad Targeted Radionuclide Therapies (TRT) oncology pipeline and enhance commercial readiness as the company nears the final stages of Phase III clinical development for its lead pipeline candidate, ITM-11 (n.c.a. 177Lu-edotreotide) in gastroenteropancreatic neuroendocrine tumors (GEP-NETs).
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