SHREVEPORT, La., April 12, 2019 /PRNewswire/ -- BRF is leading innovation in molecular imaging and research in Louisiana through a new $14.2 million, 20,000 sq. ft. Center for Molecular Imaging and Therapy (CMIT).
To secure the CMIT project, the State of Louisiana offered BRF a competitive incentive package that consists of a $1 million performance-based grant. The grant will offset the costs of medical equipment and building expenses associated with the project.
The new facility in Shreveport will house radiopharmaceutical production equipment and operations, patient imaging services, and a clinical and translational research program.
CMIT is led by Executive Director Pradeep K. Garg, Ph.D., who has an extensive background in molecular imaging research and in developing disease specific novel radiopharmaceuticals, having led programs at Yale, Wake Forest and Duke universities.
The program Dr. Garg will lead is the evolution of BRF's PET Imaging Center, the first molecular imaging scanning and radiopharmaceutical production facility in the state, which opened in 1995. The center was one of the nation's first full-service, non-academic centers and grew into one of the most active centers in the South, serving over 46,000 patients.
With new production equipment and expanded capabilities, CMIT will grow its catalog of novel radiopharmaceuticals to include applications in cardiovascular disease, prostate cancer, Alzheimer's disease and related dementias, hyperinsulinism, and pancreatic and other cancers.
The world-wide market for novel diagnostic and therapeutic radiopharmaceuticals is expected to reach $7.4 billion by 2024. The expanded program at the new CMIT is expected to achieve the following results:
- More opportunities for radiopharmaceutical and radiochemistry research collaboration, preclinical basic science research, and involvement in the drug discovery and development process, which can attract and retain talent
- Enhanced research collaborations with higher education institutions, including LSU Health Sciences Center Shreveport
- Expanded clinical trial opportunities for patients, bringing cutting edge diagnostic and therapeutic options to patients
- Improved access for referring physicians in North Louisiana, East Texas and South Arkansas
- Earlier diagnosis and modified treatments for diseases affecting those patients
- Addition of approx. 25 new skilled jobs with good salaries
- Pipeline of intellectual property and novel radiopharmaceutical patents for healthcare startups
- Increased clinical, research and commercialization impact for the state
To date, $9.4 million of the $14.2 million expansion project has been raised by BRF, the BRF board and leadership. The remaining funds will be raised from private and public sources.
An initiative of BRF, CMIT is a research organization in Shreveport devoted to developing novel radiopharmaceuticals which can lead to improved diagnosis and therapy for a wide range of diseases. CMIT actively performs radiopharmaceutical and translational research as well as clinical imaging.
CONTACT: Brian Williams, BRF, 318.716.4115, firstname.lastname@example.org