ITM’s radiopharma leadership credentials boosted by 188 million euros
Isotope Technologies Munich (ITM) has announced an equity investment of 188 million euros ($204 million) led by Temasek with participation from funds managed by BlackRock, Qatar Investment Authority, ATHOS and Carbyne.
The privately-held German biotech firm is a leading radiopharmaceutical company dedicated to providing a new generation of radiomolecular precision therapeutics and diagnostics for hard-to-treat tumors.
"This financing furthers our position as a driver and partner for the radiopharmaceutical industry"ITM’s new capital will be used to advance and expand its radiopharmaceutical pipeline, foster its leading development platform and prepare commercial readiness for the potential market launch of the company’s Phase III lead candidate, ITM-11 (n.c.a. 177Lu-edotreotide), for the treatment of gastroenteropancreatic neuroendocrine tumors (GEP-NETs).
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