BWXT Medical and NorthStar Medical Radioisotopes Sign Supply Agreement Supporting Actinium-225 Production
July 22 2024 - 6:45AM
Business Wire
- Multi-year supply agreement for radium-226 processing and
purification
- Collaboration will work to provide Ac-225 for clinical trials
and commercial supply
BWXT Medical Ltd., a subsidiary of BWX Technologies, Inc. (NYSE:
BWXT) and NorthStar Medical Radioisotopes, LLC (NorthStar) today
announced that they have signed a Master Services Agreement (MSA),
which will facilitate the production of actinium-225 (Ac-225), a
critical medical isotope used to kill cancer cells while minimizing
the impact to healthy tissues.
Medical isotopes are essential for a wide range of diagnostic
and therapeutic procedures, including cancer treatments and
advanced imaging techniques. Pursuant to the multi-year MSA, the
companies will work together to process and purify radium-226. The
scope of the agreement also includes potential target design
projects and exploration of opportunities to provide backup supply
to each other’s customers.
Jonathan Cirtain, president and chief executive officer of BWXT
Medical, stated, “We are pleased to enter into this agreement with
NorthStar. This collaboration is a significant step forward in our
mission to support healthcare providers and patients by providing
high-quality medical isotopes. Together, we are accelerating our
radium-226 target design and fabrication efforts and establishing
another irradiation relationship that will enable us to expand our
production of Ac-225.”
BWXT Medical will collaborate closely with NorthStar, a global
innovator in the development, production and commercialization of
radiopharmaceuticals used for therapeutic applications and medical
imaging, to streamline production processes, enhance safety
protocols and innovate new methods of isotope generation. This
collaboration will leverage the strengths of both organizations,
combining cutting-edge technology with extensive industry
knowledge.
“At NorthStar, we believe we’re on the cusp of a global paradigm
shift in the development and commercialization of effective new
radiodiagnostics and radiotherapies that can potentially be applied
to devastating cancers and rare, complex conditions,” said Dr.
Frank Scholz, NorthStar’s president and chief executive officer.
“This agreement could be instrumental to the radiopharmaceutical
industry and patient health. We are excited to collaborate with
BWXT on actinium production and believe our complementary technical
capabilities will play a critical role in bringing novel therapies
to patients who so urgently need them.”
BWXT Medical recently announced that it has submitted a Drug
Master File (DMF) for Actinium-225 API to U.S. Food and Drug
Administration (FDA). DMFs are submissions to FDA used to provide
confidential, detailed information about facilities, processes or
articles used in the manufacturing, processing, packaging and
storing of human drug products.
An active DMF enables clinical investigators or pharmaceutical
companies to reference the filing in their regulatory submissions.
BWXT Medical’s Ac-225 has been used in an early clinical study, and
the DMF is now ready for reference to support later stage clinical
studies and, ultimately, new drug applications.
Forward Looking Statements
BWX Technologies, Inc. (“BWXT”) cautions that this release
contains forward-looking statements, including statements relating
to expectations for the development, production, performance,
demand, timing and impact of Radium-226, Ac-225 and related
radioisotopes. These forward-looking statements involve a number of
risks and uncertainties, including, among other things, changes in
market demand, delays in the development and production, regulatory
approvals and potential supply chain issues. If one or more of
these or other risks materialize, actual results may vary
materially from those expressed. For a more complete discussion of
these and other risk factors, please see BWXT’s annual report on
Form 10-K for the year ended December 31, 2023 and subsequent
quarterly reports on Form 10-Q filed with the Securities and
Exchange Commission. BWXT cautions not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this release, and undertakes no obligation to update or revise
any forward-looking statement, except to the extent required by
applicable law.
About BWXT Medical
BWXT Medical Ltd. manufactures custom radiopharmaceuticals,
radiotherapies and medical isotopes in an 80,000-square-foot cGMP
manufacturing facility in Ottawa and at the state-of-the-art
commercial cyclotron facility within TRIUMF, Canada’s particle
acceleration centre. BWXT Medical Ltd. is a subsidiary of BWX
Technologies, Inc. (NYSE: BWXT). BWXT is a manufacturing and
engineering innovator that provides safe and effective nuclear
solutions for global security, clean energy, environmental
restoration, nuclear medicine and space exploration. Learn more at
www.bwxtmedical.com and follow us on LinkedIn.
About NorthStar Medical Radioisotopes, LLC
(NorthStar)
NorthStar Medical Radioisotopes is a commercial-stage
radiopharmaceutical company at the forefront of advancing patient
care by utilizing novel technologies to produce commercial-scale
radioisotopes that, once attached to a molecule, have the ability
to detect and treat cancer and other serious diseases. NorthStar’s
expanding industry-leading position in the emerging field of
radiopharmaceutical therapy is supported by its unique capabilities
in the sophisticated production of radioisotopes, proven management
team, and state-of-the-art, environmentally preferable
technologies. NorthStar routinely produces copper-67 (Cu-67) and is
poised to be the first commercial-scale producer of
non-carrier-added (n.c.a.) actinium-225 (Ac-225). The Company’s
Radiopharmaceutical Contract Development and Manufacturing
Organization (CDMO) services unit provides customized service
offerings and specialized radiopharmaceutical expertise to help
biopharmaceutical companies rapidly advance their development and
commercial programs. For more information about NorthStar’s
comprehensive portfolio and patient-focused services, visit:
www.northstarnm.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240722930041/en/
Media Contact BWXT Monifa Miller Senior Director,
Corporate Affairs Commercial Operations 519.242.8071
mamiller@bwxt.com
Investor Contact BWXT Chase Jacobson Vice President,
Investor Relations 980.365.4300 investors@bwxt.com
Media Contact NorthStar Medical Radioisotopes, LLC Alison
Hess Vice President, Chief of Staff 608-295-9806
ahess@northstarnm.com
Investor Relations NorthStar Paul Estrem Executive Vice
President and Chief Financial Officer 608-987-8318
pestrem@northstarnm.com
BWX Technologies (NYSE:BWXT)
Historical Stock Chart
From Aug 2024 to Sep 2024
BWX Technologies (NYSE:BWXT)
Historical Stock Chart
From Sep 2023 to Sep 2024