Acquisition of Exclusive Manufacturing and Marketing Rights for DOTATOC -- In-licensing of superior DOTA-Tyr(3)-octreotide -- Pharmaceutical developmentfor treatment of NETs -- Excellent pharmacokinetic properties GARCHING, Germany, Sept. 18, 2013 /CNW/ - ITM Isotope Technologies Munich AG (ITM) today announced that it has entered into an exclusive licensing agreement with Progenics Pharmaceuticals Inc. for pharmaceutical development and commercialization of radiolabeled DOTA-conjugated somatostatin analogue DOTA-[Tyr3]-octreotide (DOTATOC known as Edotreotide) for human oncology therapeutic use. Radiolabeled DOTATOC is a superior agent for safe and highly effective radionuclide therapy of somatostatin receptor positive tumors which offers excellent pharmacokinetic properties and highest affinity to somatostatin receptor subtypes 2 and 5. Scope of license agreement The sublicense granted by Progenics Pharmaceuticals Inc. covers exclusive worldwide manufacturing and marketing rights of DOTATOC and certain radiolabeled DOTATOC for human oncology therapeutic use except the countries Albania, Algeria, Bahrain, Bulgaria, Cyprus, Greece, Iran, Iraq, Kuwait, Lebanon, Oman, Qatar, Romania, Saudi Arabia, Syria, Turkey and United Arab Emirates. Further terms of the agreement were not disclosed. Pharmaceutical development ITM affiliate ITG Isotope Technologies Garching GmbH will develop radiolabeled DOTATOC for treatment of metastatic neuroendocrine tumors. In addition, DOTATOC as precursor is now available and will be distributed in GMP quality in cooperation with a leading supplier of advanced chemicals for nuclear medicine. About DOTATOC DOTATOC or Edotreotide is a superior synthetic somatostatin analog which binds perfectly to somatostatin receptors predominantly overexpressed in neuroendocrine tumors (NETs). NETs are rare kind of tumors which arise from neuroendocrine cells and may occur in different parts of the body. DOTA-chelated peptide Edotreotide exhibits excellent pharmacokinetic properties and can be efficiently radiolabeled with medical radionuclides. Its excellent therapeutic properties have been successfully started in various clinical trials. About ITM Isotope Technologies Munich AG Theitm Group is the leading company for the development, production and worldwide distribution of highly effective radionuclides for diagnosis and therapy as well as radionuclide-based medical devices. Its commitment to shaping the future of theranostics is built on robust platform technologies and innovative new generation radioisotopes which assure safety, performance and security of supply! ITM Isotope Technologies Munich AG Aufsichtsratsvorsitzender - Udo J. Vetter, Vorstandsvorsitzender - Steffen Schuster, Sitz der Gesellschaft - Lichtenbergstr. 1, 85748 Garching - HG München - HRB 154944 SOURCE ITM Isotope Technologies Munich AG Christopher Morin Manager Marketing & Corporate Communications Phone: +49-89-289-13915 Mail:Christopher.Morin@itg-garching.de Steffen Schuster CEO Phone: +49-89-289-13970 Mail:Steffen.Schuster@itm.ag To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/September2013/18/c8339.html CO: ITM Isotope Technologies Munich AG NI: ORDER -0- Sep/18/2013 15:21 GMT
Acquisition of Exclusive Manufacturing and Marketing Rights for DOTATOC
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