Tuesday, April 04, 2023
NorthStar Medical Radioisotopes, LLC, a global innovator in the development, production and commercialization of radiopharmaceuticals used for therapeutic and medical imaging applications, today announced a corporate update highlighting progress across its key programs during the past twelve months, and indicating important upcoming milestones.
“NorthStar’s industry-leading reputation is grounded in technological innovation, successful execution and proven expertise, and we have made tremendous strides in advancing our portfolio over the past year,” said Stephen Merrick, Chief Executive Officer of NorthStar Medical Radioisotopes. “Our track record of success includes our program to supply U.S.-produced, non-uranium based Mo-99 for use in diagnostic imaging. NorthStar’s RadioGenix® Systems (technetium Tc 99m generator) have reliably delivered Tc-99m to meet the needs of radiopharmacies, health systems and patients, even during a twelve-month period fraught with serious supply shortages from overseas reactor-based producers.
Mr. Merrick continued, “Demand for therapeutic radiopharmaceuticals is increasing rapidly. NorthStar is poised to be the first commercial-scale producer of therapeutic radioisotopes Cu-67 and non-carrier added (n.c.a.) Ac-225 using advanced, environmentally preferable electron accelerator technology. NorthStar has further deepened and broadened our business platform with the recent establishment of a full-scale radiopharmaceutical CDMO/CMO services unit. This unit will enable us to develop and manufacture patient doses for pharmaceutical or biotechnology companies as well as share our radiopharmaceutical development and commercialization expertise with them where they may require additional infrastructure, resources or the specialized knowledge required for complex radiopharmaceutical development. These capabilities will help them develop and deliver products with the potential to improve care for even more patients with serious disease.
“In parallel with these initiatives, NorthStar’s imaging portfolio continues to advance,” Mr. Merrick further added. “The FibroScint program, a collaboration with Capella Imaging, to develop a Tc-99m agent to image fibrin, and collaboration with GE Healthcare to manufacture I-123 capsules are on track for further advancement this year. NorthStar has also made progress with adding value to the development of therapeutic radiopharmaceuticals through its agreements with Monopar Therapeutics and Inhibrx. These agreements have the potential to bring novel new treatments to patients with cancer, using radioisotopes to selectively destroy a wide range of cancer cells.
Mr. Merrick concluded, “This is a very exciting and dynamic time for NorthStar and all those involved in nuclear medicine. We are proud to be a leader in expanding the horizons of patient health by providing innovative solutions to ensure robust, reliable access to radioisotopes and radiopharmaceutical products that can make a positive difference in healthcare for people around the world.”