ITM secures €188M in funding

Isotope Technologies Munich (ITM) has secured an equity investment of €188 million that it will use to develop its radiopharmaceutical pipeline and prepare for the potential launch of ITM-11.

The funds will also be used to expand ITM's radioisotope manufacturing capabilities. ITM-11 (lutetium-177 edotreotide) aims to treat gastroenteropancreatic neuroendocrine tumors. The company added that it also aims to expand ITM's manufacturing capabilities to new, high-value medical radioisotopes including actinium-225.

ITM said it will provide these medical radioisotopes to its global supply network and apply them to broaden its own radiopharmaceutical therapy pipeline designed to address an array of hard-to-treat cancer indications.

The funding was led by Temasek with participation from BlackRock, Qatar Investment Authority, Athos, and Carbyne.