by John R. Fischer
, Senior Reporter | October 03, 2017
Sofie Biosciences has acquired Zevacor Pharma in a deal that combines the two companies under the rebranded name, SOFIE.
The agreement combines Zevacor Pharma’s 16 radiopharmacies and contract manufacturing organization that supports clinical trials with the imaging and radiochemistry products of Sofie Biosciences, allowing both together to offer both clinical and life science services. The name change reflects this combination of services.
“Now is the right time to buy Zevacor Pharma because we see a wave of new products that will be adopted, with the most significant market being these new theranostics that are coming online, beginning first with neuroendocrine tumor imaging and therapy and then followed up by prostate cancer imaging and therapy,” Patrick Phelps, the president and CEO of SOFIE, told HCB News. “This theranostic market that lies out in front of us is going to be huge, and Zevacor is one of the main suppliers for theranostics.”
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Aside from new theranostic products, the acquisition is also based on the notion that FDG, though underutilized, will continue to grow due to the use of FDG PET in treatment monitoring, and that the addition of studies of amyloid PET in patient management for Alzheimer’s disease will help spur the growth of amyloid imaging.
Sofie Biosciences raised a $27.4 million round to fund the acquisition and capitalization of the Zevacor Pharma, uniting the two as SOFIE.
Customers of Sofie Bioscience will have access to a variety of imaging probes and tracers to offer as new applications to scientists for their facilities. Its radiology technologies will be innovated into commercial radiopharmacies, allowing for quicker translation of new tracers from academic labs to commercial pharmacies in support of early trials.
Zevacor Pharma customers will have access to new tracers, as well as new therapies and theranostics, before they are FDA approved or available at other commercial pharmacies.
SOFIE will continue to scale the production of FDG PET scans as well as a variety of recently approved FDA products, and will be involved in clinical trials early on, compared to conventional radiopharmacies which usually only offer FDG and one or two FDA-approved products and may get involved in clinical trials in the late stages.
“I think that with SOFIE taking over Zevacor, people will see us as the group that will help drive a lot of these new scans, these new therapies, to the market, and see us as very forward-looking,” said Phelps.
Zevacor Pharma did not return calls for comment.