INDIANAPOLIS and MOL, Belgium , Nov. 24, 2021 (GLOBE NEWSWIRE) -- POINT Biopharma Global Inc. (NASDAQ: PNT), a company accelerating the discovery, development, and global access to life changing radiopharmaceuticals, and Studiecentrum voor Kernenergie/Centre d’Etude de l’Energie Nucléaire, also known as the Belgian Nuclear Research Center (“SCK CEN”), one of Belgium’s largest research centers with sixty-five years of experience in nuclear research and technology, today announced a technology license agreement for Lu-177 purification technology to accelerate POINT’s in-house no-carrier-added lutetium-177 (n.c.a. Lu-177) production program.
Medical isotopes like Lu-177 are not commodities; some Lu-177 manufacturing processes can introduce radioactive impurities which limit the number of clinics which can administer the final radiopharmaceutical drug. No-carrier-added (n.c.a.) Lu-177, on the other hand, is a pure form of Lu-177 that does not include long lived radioactive impurities, increasing the ease of administration in outpatient settings. SCK CEN’s significant scientific development experience and research capabilities have enabled them to develop innovative and scalable technology for the efficient production of n.c.a. Lu-177. POINT is licensing SCK CEN’s n.c.a. Lu-177 purification technology to both further increase the resiliency of POINT’s supply chain, as well as to lower POINT’s cost of medical isotope, the most expensive raw material used in radiopharmaceutical production.
“This agreement with SCK CEN represents another key building block of our supply chain, positioning us as one of the first companies to manage the whole radiopharmaceutical life cycle, From Neutron To Patient™,” said Dr. Joe McCann, CEO of POINT Biopharma. “The scope and depth of our supply chain is now truly unique in the radiopharmaceutical industry and, when combined with our 80,000 ft² state-of-the-art manufacturing facility, make POINT one of the few firms globally capable of delivering radiopharmaceuticals for large cancer indications. We look forward to shipping our first clinical dose from our facility in the coming weeks, as we continue to pursue our vision of transforming lives that have been touched by cancer.”
Eric van Walle, Director General of SCK CEN, added “By leveraging our long history and deep expertise in nuclear technology, we strive to be an indispensable player in the production and distribution of radioisotopes for nuclear medicine. We are pleased to partner with POINT to support their development of no-carrier-added lutetium-177 for patients with prostate cancer."
About SCK CEN
Spanning sixty-five years of experience in nuclear research and nuclear technology, SCK CEN is one of the largest research institutions in Belgium. Every day, more than 850 employees dedicate themselves to developing peaceful applications of radioactivity. SCK CEN's research activities focus on three main areas: the safety of nuclear installations, the development of nuclear medicine and protecting people and the environment from ionizing radiation. SCK CEN is world-renowned and shares its expertise through countless publications and training courses, so that this pool of exceptional competence can be maintained. For more information, please visit www.sckcen.be
About POINT Biopharma
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 is transforming precision medicine by combining a portfolio of best-in-class radio-pharmaceutical assets, a seasoned management team, an industry-leading pipeline, in-house manufacturing capabilities, and secured supply for rare medical isotopes like Actinium-225 and Lutetium-177. 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/.
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 POINT's S-1 registration statement filed with the SEC on July 30, 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.
Company Contact:
Ari Shomair
media@pointbiopharma.com
(647) 812-2417
Investor Relations Contact:
Alex Lobo
Stern Investor Relations
investors@pointbiopharma.com
