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Bruce Power, ITM and Partners Finalize Agreement Paving Way for New Medical Isotope Delivery System Expected in 2022

November 13, 2019 GMT

TORONTO & GARCHING, Germany--(BUSINESS WIRE)--Nov 13, 2019--

Two partnership agreements signed today will lay the groundwork for a new isotope delivery system at Bruce Power that will help provide lifesaving medical isotopes worldwide.

The agreements, signed at Kinectrics with Ontario Premier Doug Ford in attendance, involved three Ontario companies Bruce Power, Kinectrics & Framatome and ITM, a biotechnology and radiopharmaceutical group of companies based in Munich with a global network of radiopharmaceutical production facilities. This new partnership, in conjunction with Bruce Power’s Life Extension program, helps to create a framework for isotope production until 2064, which is the expected life of the Bruce Power site following its Life Extension Program launched in 2016 which remains on time and on budget.

Using ITM’s unique manufacturing methodology, the production of the medical isotope non-carrier-added (n.c.a.) Lutetium-177 ( 177 Lu) / EndolucinBeta ® by irradiating Ytterbium-176, will be established at Bruce Power. N.c.a. Lutetium-177 is a highly pure therapeutic precursor, which is successfully applied in Targeted Radionuclide Therapy for the treatment of a growing variety of cancers such as prostate cancer, neuroendocrine tumors, or bone metastases. Pending regulatory and other approvals, the delivery system for the production of the isotope n.c.a. Lutetium-177 is expected to begin in 2022.

“Ontario has been a worldwide leader in the production of life-saving, cancer-fighting isotopes and our nuclear industry is making sure that we maintain that role for years to come,” said Premier Doug Ford. “I am very proud to see that this important work that is being done right here in Etobicoke and I’d like to congratulate Kinectrics, Bruce Power, Framatome and ITM for signing this ground-breaking agreement.”

“These agreements allow us to take the next step forward in providing life-saving isotopes,” said Mike Rencheck, Executive President and CEO at Bruce Power. “Through our partnership with Kinectrics, Framatome and ITM, we look forward to becoming part of a global network providing n.c.a. Lutetium-177 to a growing number of cancer patients worldwide.”

Earlier this year, Bruce Power and ITM completed a successful feasibility study that concluded that Bruce Power and its partners Framatome and Kinectrics, following regulatory and other approvals, are uniquely positioned to fulfil the necessary requirements to establish isotope delivery units at the Bruce Power reactors for the subsequent production of ITM’s n.c.a. Lutetium-177. The study examined factors such as technical, medical and nuclear regulatory requirements, radiation protection and waste management. It also verified the specific requirements of compatibility with ITM’s target and processing technology.

“We are pleased to see the progression of our common goal with Bruce Power and its partners Framatome and Kinectrics to produce our therapeutic no-carrier-added Lutetium-177 in North America,” annotated Steffen Schuster, CEO of ITM. “The qualified expertise of our partners Bruce Power, Framatome and Kinectrics will enable the fastest route in providing our no-carrier-added Lutetium-177 to cancer patients in North America and help secure the supply of high-quality medical radioisotopes for Targeted Radionuclide Therapy to cancer patients worldwide.”

The installation of the irradiation services at Bruce Power by Framatome and Kinectrics, is currently planned for late-2021. Bruce Power will provide the infrastructure and be responsible for the irradiation as it currently does with Cobalt-60.

“Kinectrics is proud to support the Ontario-based supply of this lifesaving Isotope Lutetium-177. With our partner Framatome, we will design, supply and license the isotope production system enabling large-scale production of Lu-177 to meet future market demand. This is a very exciting business opportunity for Kinectrics, building on our licensing, engineering, and active materials handling capabilities.”

“Bruce Power’s unwavering commitment to life-saving isotope development expands Framatome’s innovation and expertise in nuclear technologies, as we join forces with Bruce Power, Kinectrics and ITM in the fight against cancer,” said Bernard Fontana, CEO of Framatome. “Our contribution in developing and delivering Lutetium-177 medical isotopes not only transforms medical treatments for cancer patients worldwide, it strengthens Canada’s position as a global leader in the production of medical isotopes for the advancement of human health.”

- Ends -

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CONTACT: Nicola Scharrer

Head of Marketing

Phone: +49 89 329 89 86 151

Email:Nicola.Scharrer@itm.agMedia Contact:

WE Communications

Sebastian Klein

Account Manager

Phone: +49 89 62 81 75 46

Email:ITM_AG@we-worldwide.com

KEYWORD: GERMANY EUROPE NORTH AMERICA CANADA

INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH MEDICAL DEVICES

SOURCE: ITM

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PUB: 11/13/2019 06:55 AM/DISC: 11/13/2019 06:55 AM

http://www.businesswire.com/news/home/20191113005401/en