In the highly specialized field of radiopharmaceuticals, a company called ITM Isotope Technologies Munich SE has quietly become one of the most influential players. It’s only taken it 20 years to get there.
ITM, which is based in Munich, Germany, is both supplier and drug developer. The firm has a close relationship with Novartis and supplies the raw materials needed to make Pluvicto, a prostate cancer therapy that drops radioactive isotopes on cancer cells without harming adjacent tissues like more traditional radiation therapy. But ITM has its own plans: The company has 13 targeted radiation drugs in human trials, and plans to announce the results from its first Phase 3 trial in the next three months.
That makes ITM one of the most dynamic players in the booming field, and one of the few late-stage, privately held companies. Most of the others have been snapped up through M&A deals as pharmaceutical companies grew excited about this new type of cancer treatment.
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