Strategic product portfolio expansion
NorthStar is expanding its company portfolio through strategic acquisitions that complement its current products.
In March 2020, NorthStar announced exclusive, worldwide licensing of an investigational fibrin-targeted cardiac diagnostic imaging agent, from Capella Imaging. The agent, known as FibroScint, may have potential applications across multiple cardiovascular conditions. Clinical investigation of FibroScint will begin with an exploratory Phase 1 study for its potential use in identifying thrombus (blood clots) in patients with serious heart failure who use a left ventricular assist device (LVAD). This Tc-99m imaging agent complements the commercially available RadioGenix System, and NorthStar intends to use RadioGenix System-produced Tc-99m in planned clinical studies.
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Development of commercial-scale therapeutic radioisotope production
NorthStar is applying its expertise in the development and commercialization of innovative radioisotope technologies to advance commercial-scale production of therapeutic radiopharmaceuticals such as copper-67 (Cu-67) and actinium-225 (Ac-225).
In February 2020, NorthStar and Clarity Pharmaceuticals signed a Letter of Intent for NorthStar to supply Clarity with Cu-67, a radiopharmaceutical with potential for treating a range of cancers. NorthStar will be a major U.S. supplier of Cu-67 for Clarity in its clinical development and commercialization plans.
Additionally, NorthStar will supply Ac-225 to several undisclosed companies to support their clinical development and commercialization plans for therapeutic radiopharmaceuticals.
Corporate development and industry leadership activities
NorthStar is firmly positioned for sustained growth and increasing industry leadership.
NorthStar completed a $100 million financing with Oberland Capital in July 2019, with proceeds to be used to increase domestic production capacity efforts for Mo-99, implement additional RadioGenix System enhancements and advance its R&D activities.
In July 2019, NorthStar was awarded an additional $30 million Cooperative Agreement by DOE/NNSA to accelerate domestic Mo-99 production, as part of DOE/NNSA’s objective to establish reliable domestic Mo-99 production without the use of highly enriched uranium. NorthStar will use funds from the award to further advance its current neutron capture technology for domestic, non-uranium based Mo-99 production, and to continue development of enhancements for the RadioGenix System.
