by Thomas Dworetzky
, Contributing Reporter | May 12, 2017
Sofie Biosciences plans to acquire Zevacor Pharma, previously known as IBA Molecular North America.
The deal will combine Zevacor's team and manufacturing and distribution network of PET imaging diagnostics and radiotherapeutics with Sofie's molecular imaging diagnostics and technologies.
"An acquisition of a radiopharmacy network has been a strategic initiative of Sofie for years,” Sofie President & CEO Patrick Phelps said in a statement. He stressed that the deal will enable Sofie to take “commercial leadership in the PET radio-pharmacy industry to not only grow FDG PET/CT service, which is still vastly underutilized, but expand the use of newly FDA-approved PET diagnostics, support Phase I/II/III clinical trials, and enable the preclinical sciences with expanding access to PET, in concert with our pipeline of imaging diagnostics.”
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The goal, he advised, is to advance “the potential of PET and a remarkable new wave of theranostics that combine PET imaging diagnostics and radiotherapeutics."
The deal is set to close in the next 60 to 90 days.
IBA Molecular North America rebranded as of January 1, 2016.
"We will continue our commitment to deliver better diagnosis and care through innovation," vice president, Sales and Marketing, Peter Burke said at the time
. "The new name – Zevacor Pharma – reflects our goal of broadening the impact of nuclear medicine and molecular imaging through both existing and new radiopharmaceuticals."
Decatur-based Illinois Health and Science (IHS) acquired IBA Molecular's U.S. subsidiary
, IBA Molecular North America, in April, 2015. In the deal, IHS acquired all of IBAM NA’s cyclotron sites as well as its research and development facilities.
“We are proud of what has been accomplished by our North American team in the past 3 years, particularly in compliance, customer service, efficiency and research services,” Renaud Dehareng, CEO of IBA Molecular, said in a statement about the deal.