Perspective Therapeutics and PharmaLogic announce collaboration for the development and production of theranostics for cancer care
BOCA RATON, Fla. and RICHLAND, Wash., March 14, 2023 /PRNewswire/ -- PharmaLogic Holdings Corp. ("PharmaLogic" or "the Company"), a contract development and manufacturing organization and radiopharmaceutical manufacturer, today announces the signature of a Master Services Agreement with Viewpoint Molecular Targeting, Inc., a wholly-owned subsidiary of Perspective Therapeutics, Inc. ("Perspective") (NYSE AMERICAN: CATX), for the development and production of theranostic candidates VMT-01 and VMT-α-NET. The radiopharmaceuticals are currently in development for the diagnosis and treatment of metastatic melanoma and neuroendocrine tumors (NETs), respectively.
Under the terms of the agreement, PharmaLogic will produce and supply doses of VMT-01 and VMT-α-NET for use in Perspective's early-stage clinical trials. This will complement the existing radiopharmaceutical GMP capability that Perspective already has at its mid-west site.
Scott Holbrook, PharmaLogic's Chief Strategy Officer and General Manager, stated, "Targeted alpha therapy (TAT) with Pb-212 labeled radioligands offers one of the most exciting platforms for novel cancer therapy within the rapidly expanding precision radiotherapy ecosystem. The expertise of Perspective Therapeutics and PharmaLogic are well aligned to yield a successful collaboration around VMT-01 and VMT-α-NET."
"We are delighted to select PharmaLogic as a trusted CDMO partner at this important juncture of the Viewpoint's clinical development journey," said Thijs Spoor, Perspective Therapeutics' CEO. "Radiopharmaceutical diagnostic imaging and therapeutic agents have a limited shelf life from time of manufacture to patient administration in the clinical setting. PharmaLogic's domain expertise in radiopharmaceuticals and broad national distribution footprint helps address our need for specialty radiopharmaceutical manufacturing at the highest level. As we have been given the safe to proceed authorizations from the U.S. Food and Drug Administration, we look forward to commencing enrollment of the Company's two image guided alpha-particle therapy studies at multiple clinical trial centers around the country. Furthermore, we look forward to reporting preliminary results from the clinical trials later in the year."
"PharmaLogic is excited to partner with Perspective Therapeutics on the production and distribution of these personalized alpha-particle theranostics," said Chris Parr, PharmaLogic's Vice President of Radiochemistry and Technical Operations. "We value Perspective's scientific leadership in this area and believe it aligns perfectly with our mission of delivering clinically relevant precision medicine products to patients in the communities we serve."
About PharmaLogic Holdings Corp.
PharmaLogic is a world-class contract development and manufacturing organization specializing in novel diagnostic imaging and therapeutic radiopharmaceuticals for the treatment of cancers and other malignancies. In addition to an established and reliable network of radiopharmacies, PharmaLogic has decades of expertise in drug development from discovery, through manufacturing and commercialization. The Company seeks to take the lead in the advancement of radiopharmaceutical technology for the benefit of patients worldwide. For more information, visit: www.radiopharmacy.com/
About Perspective Therapeutics
Perspective Therapeutics, Inc., formerly known as Isoray, Inc., is a medical technology and radiopharmaceutical company that is pioneering advanced treatment applications for cancers throughout the body. Perspective Therapeutics is the sole producer of Cesium-131 brachytherapy seeds and has a proprietary technology that utilizes the isotope lead-212 to deliver powerful alpha radiation specifically to cancer cells via specialized targeting peptides. Perspective Therapeutics is also developing complementary imaging diagnostics that incorporate the same targeting peptides which provide the opportunity to personalize treatment and optimize patient outcomes. This "theranostic" approach enables the ability to see the specific tumor and then treat it to potentially improve efficacy and minimize toxicity associated with many other types of cancer treatments.
Perspective Therapeutics' melanoma (VMT01) and neuroendocrine tumor (VMT-α-NET) programs are entering Phase 1/2a imaging and therapy trials for the treatment of metastatic melanoma and neuroendocrine tumors at several leading academic institutions. The Company has also developed a proprietary lead-212 generator to secure isotope supply for clinical trial and commercial operations.
For more information, please visit their website at www.perspectivetherapeutics.com.
Safe Harbor Statement
Statements in this news release about Perspective Therapeutics, Inc.'s ("Perspective") and its wholly-owned subsidiary Viewpoint Molecular Targeting, Inc.'s ("Viewpoint," and together with Perspective, the "Company") future expectations, including: the functionality and capabilities of the Company's therapies including its targeted alpha-particle radiotherapy and its theranostic candidates VMT-01 and VMT- α-NET; the potential size of the commercial market for the Company's treatment programs; the Company's expectations, beliefs, intentions, and strategies regarding the future; and all other statements in this news release, other than historical facts, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). This statement is included for the express purpose of availing the Company of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as whether the alpha-particle therapy studies referred to in this news release are conducted on the anticipated timelines or are successful; the ability to raise ongoing capital to fund added costs of research and development related to the Company's business; the ability of the Company to manage growth and successfully integrate its businesses; whether the Company can maintain its key employees; the risk that the recent merger disrupts current plans and operations; the outcome of any legal proceedings that may be instituted against the Company following consummation of the merger; whether the Company's anticipated product pipeline is achieved; whether additional studies are released that reinforce the results of the studies discussed in this presentation; whether the anticipated benefits of the Company's therapies are realized; training and use of the Company's products; market acceptance and recognition of the Company's products; the Company's ability to enforce its intellectual property rights; whether ongoing patient results are favorable and in line with the conclusions of clinical studies and initial patient results; successful completion of future research and development activities; whether we, our distributors, and our customers will successfully obtain and maintain all required regulatory approvals and licenses to market, sell, and use our products in their various forms; the procedures and regulatory requirements mandated by the FDA for animal trials, human trials, clinical studies, Phase I and II approvals, fast track approvals, and 510(k) approval and reimbursement codes; changes in applicable laws and regulations; and other risks detailed from time to time in the Company's reports filed with the SEC.
Unless required to do so by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. For more information regarding risks and uncertainties that could affect the Company's results of operations or financial condition, please review the definitive Proxy Statement filed on November 7, 2022, and our Form 10-K filed on September 28, 2022, with the SEC.
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