JANESVILLE, Wis. and SYDNEY, Sept. 19, 2022 /PRNewswire/ -- SHINE Technologies, a next-generation fusion technology company, and Radiopharm Theranostics (ASX:RAD), a developer of a world-class platform of radiopharmaceutical products for both diagnostic and therapeutic uses, today announced that they have entered into a clinical supply agreement. SHINE will supply Radiopharm with isotope non-carrier-added lutetium-177 (Lu-177).
The isotope will be used by Radiopharm in the development of its clinical pipeline of diagnostic and therapeutic radiopharmaceutical products. Lu-177 is an important isotope utilized in multiple programs across Radiopharm's portfolio.
Nearly everyone has been affected by cancer. SHINE's efforts are about prolonging lives of those affected most directly.
"One way or another, nearly everyone has been affected by cancer. SHINE's efforts in lutetium-177 are all about prolonging the lives of those affected most directly," said Chris Vessell, general manager of SHINE's Therapeutics Division. "We are excited that our isotopes will play a critical role in Radiopharm Theranostics' programs that aim to revolutionize cancer treatment."
SHINE, an emerging leader in the production of this medical radioisotope, intends to be the industry's only vertically integrated producer of Lu-177, aiming to provide a reliable and scalable supply independent of current supply-chain restraints."
"Ensuring supply of key isotopes continues to be a priority for our team, allowing us to accelerate our clinical programs unimpeded," said Riccardo Canevari, CEO and managing director of Radiopharm Theranostics. "Lutetium-177 is required for three of our more advanced assets and this clinical supply agreement with SHINE, an experienced player in nuclear technology, is another important step in de-risking our business plan."
About SHINE Technologies
Based in Janesville, Wisconsin, U.S., SHINE Technologies is a next-generation fusion technology company, deploying safe, cost-effective and environmentally friendly systems for use in industrial imaging of components across aerospace, defense, transport, medicine, energy and more. SHINE's proprietary isotope production processes create both molybdenum-99 and n.c.a. lutetium-177, each of which are used in multiple diagnostic and therapeutic medical procedures.
SOURCE SHINE Technologies, LLC