IONETIX and PRECISION MOLECULAR Inc. Announce Supply Agreement for Astatine-211

LANSING, Mich., Jan. 26, 2022 /PRNewswire/ -- IONETIX Corporation, an innovative, end-to-end radiopharmaceutical solution provider focusing on establishing a secure supply chain for alpha-emitting radiopharmaceuticals today announced it has signed a supply agreement for the therapeutic radioisotope astatine-211 (²¹¹At) with Precision Molecular, Inc. (PMI), a clinical-stage company developing targeted radiopharmaceuticals and theranostics for patients with cancer.

Ionetix is leading the way in establishing the first commerical-scale supply of accelerator produced, carrier-free, therapeutic alpha radioisotopes. Utilizing its cyclotron technology platform, Ionetix will be commissioning a new facility this year in Lansing, Michigan dedicated to the manufacturing and distribution of alpha-emtting radioisotopes, including ²¹¹At. "We are committed to building the first commercial supply chain for astatine-211 in North America that can support drug discovery, development and commercialization of astatine-211 labeled targeted alpha therapies," said David Eve, Vice President of Medical Affairs. "Astatine-211 is a high-energy alpha-emitting radioisotope that can have a very powerful therapeutic effect when combined with the right targeting molecule.  Therefore, we are excited to support PMI as they work to develop these new astatine-211 labeled therapeutic agents."

PMI is developing an astatine-211 labeled inhibitor of prostate-specific membrane antigen (PSMA) known as PMI21. PMI21 is designed to target PSMA, which is present at low levels in normal prostate tissue but is markedly elevated in prostate cancer cells. The PSMA-binding and ²¹¹At labeling functions of PMI21 have been optimized in combination for high tumor uptake and rapid clearance from normal tissues in order to maximize potency and minimize toxicity. PMI plans to advance PMI21 into clinical trials in patients with metastatic prostate cancer later this year.  

"This supply agreement is an important step towards the development of PMI21," said Seulki Lee, Ph.D., Chief Executive Officer of PMI. "We believe PMI21 has the potential to offer major advantages to what is currently in development, but it is essential for us to first have a secure and reliable supply of astatine-211. With their cyclotron expertise and established radiopharmaceutical manufacturing experience, we are confident that Ionetix will be a strong long-term strategic partner for PMI." 

About IONETIX: IONETIX is a US-based cyclotron and technology company founded in 2009. Utilizing a proprietary cyclotron technology platform, Ionetix is focused on developing innovative accelerator solutions for the production and distribution of radioisotopes used for both diagnostic and therapeutic radiopharmaceuticals.  Ionetix offers turnkey services for the point-of-care supply of the diagnostic positron emission tomography (PET) radiopharmaceutical N-13 Ammonia. Ionetix is now expanding its services to include the supply of therapeutic alpha isotopes used in radiopharmaceuticals being developed to treat various cancers. Located in Lansing, Michigan, Ionetix is establishing the first dedicated alpha isotope manufacturing and distribution facility to produce alpha isotopes Astatine-211 (At-211) and Actinium-225 (Ac-225). For more information, please visit www.IONETIX.com.

About Precision Molecular, Inc.: Precision Molecular, Inc. (PMI) is a clinical-stage company with the mission to develop targeted radiopharmaceuticals for the treatment and management of patients with cancer. PMI is developing multiple targeted alpha-particle therapies for a broad range of solid tumors targeting PSMA, Fibroblast Activation Protein (FAP) and Carbonic anhydrase IX as well as advancing a number of imaging biomarker products in the clinic with great potential to improve early diagnosis of cancer. PMI is a subsidiary of D&D Pharmatech; a clinical-stage global biotech company that funds the development of revolutionary medicines through disease-specific subsidiary companies founded and guided by top-tier medical research faculty and biotechnology veterans. This corporate structure creates a unique opportunity to accelerate translation of cutting-edge research into lifesaving therapeutic products for patients. For more information, please visit www.precisionmol.com.

Contact: David Eve • [email protected] • 812-972-0673

SOURCE IONETIX