Leading radiopharmaceutical biotech company, Isotope Technologies Munich SE (ITM), and Grand Pharmaceutical Group Limited (GP) are announcing they have entered into an exclusive licensing agreement for GP to develop, manufacture and commercialise ITM’s oncological radiopharmaceutical candidates, ITM-11 (n.c.a. 177Lu-edotreotide) and ITM-41 (n.c.a. 177Lu-zoledronate) as well as the diagnostic TOCscan (68Ga-edotreotide) in the territory of mainland China, Hong Kong, Macau and Taiwan.

Chairman of NCB Group, Michael Lee-Chin, who sits on the board of ITM is very supportive of the work of the company and the strides it has taken to provide remedies to cancer.

Lee-Chin is of the view that ‘Baby Boomers’ and Generation X spent decades acquiring assets and are now focused on the most important asset of all – their health and their desire bro continue living.

Under the terms of the agreement, ITM grants GP, a diversified global pharmaceutical company listed in Hong Kong, an exclusive license for the named products in the licensed territory and will support the supply of the pharmaceutical materials needed to conduct clinical and commercial activities.

GP will be responsible for clinical development, regulatory activities and commercialisation of these products in the licensed geographies.

ITM is eligible for a significant upfront payment as well as potential aggregate regulatory and commercial milestone payments totalling up to approximately €520 million in addition to tiered royalties.

“In line with our isotope production collaboration with CIRC and the formation of our Shanghai subsidiary (WFOE) in 2021, ITM continues to strengthen its global footprint in Asian regions. This agreement with GP creates a strong partnership that supports the development and future commercial launch of our targeted radiopharmaceutical products with a recognised leader in Asia,” commented Steffen Schuster, CEO of ITM.

“We look forward to working with GP to develop and provide our radiopharmaceuticals in a region with a growing patient population in need of precision oncology treatments,” Schuster added.

“We value our strategic partnership with ITM as we focus on bringing improved precision oncology treatments to Greater China,” said Frank Zhou, CEO of GP.

“By combining our resources, expertise and patient-centric approach we are confident in our ability to develop, distribute and commercialize innovative and high-quality radiopharmaceutical products,” Zhou noted further.

ITM-11 (n.c.a. 177Lu-edotreotide) is ITM’s most advanced targeted radionuclide therapy being developed for the treatment of gastroenteropancreatic neuroendocrine tumours (GEP-NETs) and is currently undergoing two phase III clinical trials, COMPETE for patients with grade 1 and grade 2 GEP- NETs and COMPOSE for grade 2 and grade 3 GEP-NETs.

ITM-11 has already demonstrated a favourable safety and efficacy profile in phase II clinical evaluation in GEP-NET patients. ITM-41 (n.c.a. 177Lu- zoledronate) is in preclinical development for the treatment of osteosarcoma and bone metastases. TOCscan (68Ga-edotreotide) is ITM’s radiopharmaceutical for the diagnosis and staging of neuroendocrine tumours (NETs).