Theragnostics, a company that provides targeted cancer medicine through molecular radiotherapy, has announced to have signed a global licensing agreement with Novartis-owned Advanced Accelerator Applications (AAA). The agreement will allow AAA to develop and commercialize Gallium-68 (Ga-68) one-step PET radiopharmaceuticals.

Under the terms of the deal, Theragnostics will receive an upfront fee as well as future royalties on sales of newly developed products. AAA will become the owner of exclusive rights for the commercialization of radiopharmaceuticals developed under the licensed patent.

Notably, the formulation of Ga-68 radiopharmaceuticals has always involved a multi-step approach, which resulted in a lower volume of patient doses produced. Theragnostics' new Ga-68 technology platform facilitates the production of the radiopharmaceutical in a sole multi-dose vial using a one-step procedure.

Chief Executive Officer at Theragnostics, Greg Mullen, was quoted saying that the company aims to develop targeted radionuclide therapies and innovative diagnostic imaging agents to boost treatment methods for a wide range of cancers.

He further added that the agreement with AAA will help in accelerating the development of Theragnostics’ radionuclide therapy, while also offering several new treatment options for patients suffering from various types of cancers.

Commenting on the significance of PET imaging, Ken Herrmann, Board Member at Theragnostics, stated that promising data for radioligand therapy in prostate cancer is likely to bolster the market demand for PSMA PET imaging. Theragnostics and AAA will now be able to reap the benefits of synergy and capture this burgeoning demand.

Founded in 2015, Theragnostics is a clinical-stage pharma company that develops precision oncology solutions for targeted radionuclide therapeutics and diagnostic imaging agents. The company has concluded several proof-of-concept phase I and II trials ranging across various radionuclide diagnostics and targeted therapies and is in the process of acquiring FDA approval for a radionuclide generic.

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