Evergreen Theragnostics announces licensing of EVG321 from Medical University of Innsbruck and enters clinical development of Radioligand Therapies in small cell lung cancer

SPRINGFIELD, N.J., May 21, 2024 /PRNewswire/ -- Evergreen Theragnostics, Inc., a clinical-stage radiopharmaceutical company, today announced that they have entered into a collaboration and licensing-agreement with the Medical University of Innsbruck (MUI), a leading European research institution to advance the development of novel radiopharmaceuticals. The agreement covers the clinical development of EVG321, a novel radioligand therapy (RLT) for small cell lung cancer (SCLC), targeting the cholecystokinin 2 receptor (CCK2R).

RLTs have surged into the clinic and represent a rapidly expanding market. By combining the power of medical isotopes and the precision of targeted therapeutics, these types of medicines allow for cell-specific ablation of a tumor target, thereby localizing ionizing radiation to diseased tissues. CCK2R has been shown to be highly expressed in SCLC, and has the potential to facilitate robust, tumor-specific delivery.

"We are very pleased to announce this new collaboration with the Medical University of Innsbruck," commented James Cook, CEO of Evergreen Theragnostics. "For several years, the research groups of Univ. Prof. Dr. Irene Virgolini and Priv. Doz. Dr. Elisabeth von Guggenberg in Innsbruck have established themselves as key innovators in the RLT-field, and we are excited to be working with them on one of their lead programs – this was an easy choice to make." He added: "Especially in the realm of small cell lung cancer, novel therapies are urgently needed, and we are confident that EVG321 has the potential to significantly improve outcomes for cancer patients in this indication."

Univ. Prof. Dr. Irene Virgolini, Medical University of Innsbruck, said: "Evergreen Discovery is a pioneer in the field of radiopharmaceuticals, and their team is looking back on an impressive record in bringing novel medicines to patients. We are delighted to be collaborating with them. In conjunction with their subject matter expertise and proven ability to translate new radioligand therapies, it is their exceptional sense of urgency to bring novel drugs to patients in need, making them such valuable partners for us."

Over the next months, Evergreen intends to begin registration enabling therapeutic and diagnostic clinical trials for Lutetium-177 (¹⁷⁷Lu) EVG321 and Gallium-68 (⁶⁸Ga) EVG321. If successful, EVG321 could offer new hope to patients with small cell lung cancer.

About Evergreen Theragnostics, Inc.

Evergreen Theragnostics is focused on improving the available options for cancer patients using radiopharmaceuticals. The company is engaged in Contract Development and Manufacturing (CDMO) services as well as drug discovery and commercialization of proprietary products. Evergreen is headquartered in Springfield, NJ in a state-of-the-art GMP radiopharmaceutical facility. The company was founded in 2019 by a team that brings a strong track record in theragnostic radiopharmaceutical manufacturing, research, and clinical development.

For more information, please visit www.evergreentgn.com.

About Medical University of Innsbruck

Medical University of Innsbruck has approximately 2,200 employees and around 3,400 students and, together with the University of Innsbruck, is the largest educational and research institution in western Austria and the regional university for Tyrol, Vorarlberg, South Tyrol and Liechtenstein. Medical University of Innsbruck is involved in numerous international educational and research programmes and networks. The research focuses on the areas Oncology, Neuroscience, Genetics, Epigenetics and Genomics as well as Infectious Diseases, Immunology & Organ and Tissue Repair. In addition to scientific research, Medical University of Innsbruck is also nationally and internationally very successful in the highly competitive field of research funding.

For more information on Medical University of Innsbruck, please visit www.i-med.ac.at

For further information, please contact:

James Cook
President & CEO
[email protected]

SOURCE Evergreen Theragnostics, Inc.