Seed brachytherapy solution manufacturer Isoray has completely merged with privately-held Viewpoint Molecular Targeting into a company focused on developing and delivering precision, targeted medical doses directly to tumor sites.
Focusing on radiation, radiopharmaceuticals and imaging technologies, the company will work to further develop the role that Cesium-131 plays in treating various cancers. Through its subsidiary, Isoray Medical, Isoray is the sole producer of Cesium-131 brachytherapy seeds.
It will also expand its novel pipeline of proprietary targeting peptides for diagnosing tumors to create strong Targeted Alpha Therapies (TAT’s).
Viewpoint Molecular Targeting CEO Thijs Spoor has become the company’s chief executive officer, while Isoray CEO Lori Woods has assumed the role of chairperson on the board of directors for the combined enterprise.
“The use of alpha-particle radiation with proprietary targeted delivery agents has the potential to transform the treatment paradigm of patients suffering from early stage cancers,” said Spoor in a statement.
Compared to historial, permanent brachytherapy forms, the relatively shorter half life of cesium better distributes energy to allow radiation to be administered into the patient in a manner that initiates treatment from a couple of millimeters away, ensuring as little impact as possible on healthy tissue.
The procedure allows patients to avoid returning for an external beam of radiation and acts as an alternative for patients who are unable to undergo other treatments or arrange to receive necessary treatment for residual cancer in the appropriate time frame.
Isoray gained FDA clearance
to include Cesium-131 seed-based brachytherapy in the launch of GT Medical Technologies’ GammaTile solution for treating recurrent brain tumors back in 2018. With Cesium-131, GammaTile Therapy delivers a high dose of intense radiation to eliminate residual cancer while limiting exposure to healthy tissue. The procedure is performed during the initial operation to remove the tumor.
The deal with Viewpoint Molecular Targeting took effect on February 3 and was completed via an all-stock transaction.
Upon the closing of the transaction, The size of Isoray’s board of directors increased to five members, including Lori Woods, Thijs Spoor, Dr. Frank Morich, Robert Williamson, and Michael McCormick.
“The merger with Viewpoint Molecular Targeting demonstrates our commitment to build on our shared belief of treating cancers from the inside out while providing personalized targeted treatment options for cancer patients,” said Woods.