Houston, Jan. 03, 2020 (GLOBE NEWSWIRE) -- RadioMedix Inc. is pleased to announce that the company has been selected for the 2019-2020 Commercialization Accelerator Program (CAP) by the National Institute of Health (NIH) SBIR/STTR (Small Business Innovation Research/Small Business Technology Transfer) program office. This award is following our two-years, $2.0 M Phase II SBIR funded in part with Federal funds from the National Cancer Institute, National Institutes of Health and Human Services, under Contract No HHSN261201800048C. The Contract focuses on the clinical development of 212Pb-AlphaMedix™ for the targeted alpha-emitter therapy (TAT) of neuroendocrine tumors.
”Selection for this program highlights the value and high commercialization potential for AlphaMedix™. This is a timely program for RadioMedix since we are getting ready to start the next round of fundraising to support our clinical trials,” said Ebrahim S. Delpassand, M.D. CEO of RadioMedix.
“This highly competitive CAP NIH program will help us strengthen our commercialization plan and business model, and engage with both industry partners and investors. Our selection highlights commercial value and clinical significance of the targeted emitter therapy and its potential to improve tumor response to treatment”, said Izabela Tworowska, Ph.D., CSO of RadioMedix. “We are honored to be part of this unique initiative.“
Commercialization Accelerator Program (NIH CAP) is a 9-month program that is well-regarded for its combination of deep domain expertise and access to industry connections, which have resulted in measurable gains and accomplishments by participating companies. Offered since 2004 to address the commercialization objectives of companies across the spectrum of experience and stage, 1000+ companies have participated in the CAP. It is open only to HHS/NIH SBIR/STTR Phase II awardees, and 80 slots are available each year. The program enables participants to establish market and customer relevance, build commercial relationships, and focus on revenue opportunities available to them. For more information, please visit www.sbir.nih.gov/cap
About RadioMedix
RadioMedix, Inc. is a clinical-stage biotechnology company, based in Texas, focused on innovative targeted radiopharmaceuticals for diagnosis, monitoring, and therapy of cancer. The company is commercializing radiopharmaceuticals for PET imaging and targeted alpha and beta-emitter therapy. RadioMedix established research and contract service facilities for academic and industrial partners at two locations: the cGMP Dose Manufacturing and analytical suites for clinical trials, and the drug discovery and pre-clinical core facility in Houston, TX. In addition, a new state of art commercial manufacturing facility located in Humble, TX has been established. To learn more, visit www.radiomedix.com. For more information about this press release, please contact media@radiomedix.com.
About AlphaMedixTM
AlphaMedixTM is a radiolabeled SSTR-targeting therapeutic investigational drug for the treatment of NETs patients. The product consists of SSTR-targeting peptide complex radiolabeled with 212Pb and serves as an in vivo generator of alpha-emitting particles. 212Pb isotope is particularly suitable for SSTR therapy applications based upon its half-life, high linear transfer (LET)energy, the short path length of decay-causing of double-stranded DNA in cancer cells which leads to irreversible damage.
About Neuroendocrine Tumors
Neuroendocrine tumors (NETs) are a heterogeneous group of rare neoplasms that originate from neuroendocrine cells. These neoplasms occur mostly in the gastrointestinal tract and pancreas, but can also occur in other tissues including lung, thymus, and other uncommon sites such as cervix, heart, and prostate. Most NETs strongly express somatostatin receptors (SSTRs).