BELOIT, Wis.--(BUSINESS WIRE)--NorthStar Medical Radioisotopes, LLC, a global innovator in the development, production and commercialization of radiopharmaceuticals used for therapeutic applications and medical imaging, today announced a significant expansion of its business platform with the formation of a new, patient-focused Radiopharmaceutical Contract Development and Manufacturing Organization (CDMO) services unit. Based on the success of its diagnostic imaging and therapeutic radioisotope production programs, NorthStar has created the services unit to further advance development and commercialization of radiopharmaceuticals to treat patients who have cancer and other serious diseases. The CDMO will provide collaborator companies with a full range of customized radiopharmaceutical development and commercialization services, and serve NorthStar in progressing its own radiopharmaceutical programs. Ground has been broken on a new facility, located alongside production facilities on the Company’s Beloit, Wis. campus. Upon completion, NorthStar will be the first and only U.S. company housing commercial-scale, multi-radioisotope production and radiopharmaceutical development services on the same campus, enabling collaborator companies to realize logistical, regulatory and cost benefits.
“Establishing this new radiopharmaceutical CDMO services unit at NorthStar marks an important inflection point in our growth plan to facilitate efficient patient supply of game-changing radiopharmaceuticals,” said Stephen Merrick, Chief Executive Officer of NorthStar Medical Radioisotopes. “NorthStar’s industry-leading reputation is grounded in technological innovation, successful execution and proven expertise. Our track record of success includes production and expanded capacity of U.S.-produced, non-uranium based molybdenum-99 (Mo-99) for use in diagnostic imaging. We are poised to be the first commercial-scale producer of non-carrier added (n.c.a.) therapeutic radioisotopes actinium-225 (Ac-225) and copper-67 (Cu-67) using advanced, environmentally preferable electron accelerator technology. With our depth and breadth of technical knowledge in the development and production of medical radioisotopes, we are now expanding to help companies progress their own radiopharmaceutical development programs. NorthStar’s CDMO will enable us to share our radiopharmaceutical development and commercialization expertise with pharmaceutical or biotechnology companies that may require additional infrastructure, resources or the specialized knowledge required for complex radiopharmaceutical development, to help them develop and deliver products with the potential to improve care for even more patients with serious disease.”
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