Progenics Acquires Radiopharmaceutical Mfg Facility in New JerseyBy
Progenics Pharmaceuticals, a New York-based company developing pharmaceuticals and imaging analysis technology for treating cancer, has acquired a manufacturing facility in Somerset, New Jersey for $8 million. The facility will serve as the launch facility for the company’s lead product, Azedra (iobenguane iodine 131), a radiopharmaceutical for treating ultra-rare cancers (pheochromocytoma and paraganglioma) and will support the company’s development-stage radiopharmaceuticals.
The production of Azedra uses a proprietary process, which concentrates the metaiodobenzylguanidin (MIBG)-targeted radiolytic activity by eliminating non-therapeutic “cold” MIBG molecules. MIBG is a compound that can be combined with radioactive iodine (I-131) to deliver targeted radiation therapy. Progenics has also secured the long-term supply of iodine necessary for the production of both Azerda and 1095, the company’s small-molecule drug candidate for treating prostate cancer.
The company says that the acquisition of the manufacturing facility establishes the infrastructure and manufacturing capabilities to label multiple types of isotopes, including iodine-131.
Source: Progenics Pharmaceuticals