NorthStar Medical Radioisotopes, LLC, a global innovator in the
development, production and commercialization of
radiopharmaceuticals used for therapeutic applications and medical
imaging, and POINT Biopharma Global Inc. (NASDAQ: PNT), a company
accelerating the discovery, development, and global access to life
changing radiopharmaceuticals, today announced the signing of a
supply agreement for the therapeutic medical radioisotope
actinium-225 (Ac-225).
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Ac-225 is a high energy alpha-emitting radioisotope that is a
mainstay for studies in targeted radiopharmaceutical therapy (RPT),
which combines select molecules with therapeutic radioisotopes,
such as Ac-225, to directly target and deliver therapeutic doses of
radiation to destroy cancer cells in patients with serious disease.
Ac-225 carries sufficient radiation to cause cell death in a
localized area of targeted cells, while its half-life limits
unwanted radioactivity in patients. Clinical research and
commercial use of Ac-225 are severely constrained by chronic short
supply due to limitations of current production technology.
NorthStar is positioned to be the first commercial-scale producer
of Ac-225, applying its radioisotope production technology
expertise to provide reliable supply for advancing clinical
research and commercial radiopharmaceutical products.
Under the terms of the agreement, NorthStar will provide POINT
with its electron accelerator-produced Ac-225 and POINT will use
NorthStar’s Ac-225 in investigational studies of PNT2001, a
next-generation Prostate-Specific Membrane Antigen (PSMA) for
non-metastatic castrate-sensitive prostate cancer (nmCSPC);
PNT2004, a Fibroblast Activation Protein-α candidate with potential
pan-cancer applications; and to advance its novel Tumor
Microenvironment (TME) tumor-targeting technology platform.
“NorthStar is at the forefront of U.S. radioisotope production
as the only commercialized producer of the important medical
radioisotope molybdenum-99 (Mo-99), and we are applying that same
development expertise to rapidly advance large-scale availability
of Ac-225,” said Stephen Merrick, President and Chief Executive
Officer of NorthStar Medical Radioisotopes. “Our Ac-225 process
uses highly efficient electron accelerator production technology
that provides increased capacity and scheduling flexibility. Like
all NorthStar processes, it is environmentally friendly,
non-uranium based and uses highly advanced technology. We are very
pleased to enter this Ac-225 supply agreement with an industry
leader such as POINT, with whom we share a vision to progress
research and clinical availability of targeted radiotherapies for
cancer patients as a potential treatment option.”
“A resilient radioisotope supply chain is key to advancing our
next-generation pipeline of targeted radiopharmaceuticals,” said
Dr. Joe McCann, Chief Executive Officer of POINT. “NorthStar’s deep
experience and commercial competencies in radioisotope production
make them an ideal partner, and we believe that their accelerator
production technology will provide us with a differentiated and
highly efficient supply route for the therapeutic radioisotope
Ac-225.”
About NorthStar Medical Radioisotopes, LLC (NorthStar)
NorthStar Medical Radioisotopes is a commercial-stage nuclear
medicine company that develops, produces and manufactures reliable
and environmentally-friendly diagnostic and therapeutic
radiopharmaceuticals. Its first FDA-approved diagnostic imaging
product is technetium-99m (Tc-99m), which is used in 40,000 patient
imaging studies per day in the United States as standard of care to
assess extent and severity of heart disease and cancer. Tc-99m is
generated by NorthStar’s novel RadioGenix® System (technetium
Tc-99m generator) which uses U.S.-produced, non-uranium based
molybdenum-99 (Mo-99) as its source material. The Company is
executing a well-defined plan to consistently increase the scale of
Mo-99 production and to continuously improve efficiencies to meet
anticipated increased demand. Therapeutic radioisotopes are
increasingly important cancer treatment options, and NorthStar is
developing commercial-scale production technologies to meet high
demand for their use in ongoing clinical trials by multiple
pharmaceutical companies. In addition, the Company is advancing a
portfolio of other radiopharmaceuticals for use in therapeutic and
diagnostic applications. For more information, visit:
www.northstarnm.com.
About POINT Biopharma Global Inc. POINT Biopharma Global Inc. is
a globally focused radiopharmaceutical company building a platform
for the clinical development and commercialization of radioligands
that fight cancer. POINT Biopharma Global Inc. is combining a
portfolio of best-in-class radiopharmaceutical assets, a seasoned
management team, expertise in radioisotopes such as Actinium-225
(Ac-225) and Lutetium-177 (Lu-177), manufacturing technology and
novel direct-to-patient targeting to revolutionize theragnostic
drug development and radioligand commercialization. Learn more
about POINT Biopharma Global Inc. at
https://www.pointbiopharma.com. Information about POINT Biopharma
Global Inc.’s Phase 3 SPLASH trial for metastatic castrate
resistant prostate cancer (mCRPC) patients can be found at
https://www.splashtrial.com.
POINT Biopharma Forward Looking Statements This press release
contains forward-looking statements within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995. In some cases, you can identify forward-looking statements
by the following words: “may,” “will,” “could,” “would,” “should,”
“expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,”
“predict,” “project,” “potential,” “continue,” “ongoing” or the
negative of these terms or other comparable terminology, although
not all forward-looking statements contain these words. These
statements involve risks, uncertainties and other factors that may
cause actual results, levels of activity, performance or
achievements to be materially different from the information
expressed or implied by these forward-looking statements. Although
we believe that we have a reasonable basis for each forward-looking
statement contained in this press release, we caution you that
these statements are based on a combination of facts and factors
currently known by us and our projections of the future, about
which we cannot be certain. Forward-looking statements in this
press release include, but are not limited to, statements regarding
the benefits of the recently completed business combination, as
well as statements about the potential attributes and benefits of
POINT’s product candidates and the format and timing of POINT’s
product development activities and clinical trials. We cannot
assure you that the forward-looking statements in this press
release will prove to be accurate. These forward-looking statements
are subject to a number of significant risks and uncertainties that
could cause actual results to differ materially from expected
results, including, among others, the outcome of any legal
proceedings that may be instituted against POINT following the
closing of the business combination, the risk that the business
combination disrupts current plans and operations, the ability to
recognize the anticipated benefits of the business combination,
which may be affected by, among other things, competition, the
ability of POINT to grow and manage growth profitably and retain
its key employees, the impact of COVID-19 on POINT’s business, the
ability to maintain the listing of POINT’s common stock on the
NASDAQ, changes in applicable laws or regulations, the possibility
that POINT may be adversely affected by other economic, business,
and/or competitive factors, and other risks and uncertainties,
including those described in RACA’s definitive proxy statement
filed with the SEC on June 9, 2021. Most of these factors are
outside of POINT’s control and are difficult to predict.
Furthermore, if the forward-looking statements prove to be
inaccurate, the inaccuracy may be material. In light of the
significant uncertainties in these forward-looking statements, you
should not regard these statements as a representation or warranty
by us or any other person that we will achieve our objectives and
plans in any specified time frame, or at all. The forward-looking
statements in this press release represent our views as of the date
of this press release. We anticipate that subsequent events and
developments will cause our views to change. However, while we may
elect to update these forward-looking statements at some point in
the future, we have no current intention of doing so except to the
extent required by applicable law. You should, therefore, not rely
on these forward-looking statements as representing our views as of
any date subsequent to the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210908005050/en/
For NorthStar Medical Radioisotopes, LLC Corporate: Lisa
Holst Vice President Sales and Marketing 678-471-9027
lholst@northstarnm.com
Investor Relations: Paul Estrem Executive Vice President and
Chief Financial Officer 608-987-8318 pestrem@northstarnm.com
Media: Priscilla Harlan 781-799-7917
pharlan@shiningrockllc.com
For POINT Biopharma Ari Shomair Chief of Staff
media@pointbiopharma.com (647) 812-2417
Investor Relations: Alex Lobo Stern Investor Relations
investors@pointbiopharma.com
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