Oncoinvent ASA, a clinical stage company advancing alpha emitter therapy across a variety of solid cancers, today announced that it has entered into an agreement with ARTBIO, a clinical-stage radiopharmaceutical company developing a new class of targeted alpha radioligand therapies. As part of the agreement, ARTBIO will rent space and equipment, acquire access to some of Oncoinvent's radioprotection expertise and analytical services, and purchase select R&D equipment. The agreement between Oncoinvent and ARTBIO shows a joint commitment to maximizing resource utilization and operational efficiency in a field which is constrained by a limited supply of these specialized facilities worldwide.
"We are excited to partner with ARTBIO on the combined exploitation of our radiopharmaceutical laboratory facilities and analytical services," said Oystein Soug, Chief Executive Officer of Oncoinvent. "Our state-of-the-art laboratory and equipment represent years of expertise and significant investment in radiopharmaceutical development, making them invaluable resources. This agreement allows us to optimize our facility usage, leveraging our advanced capabilities and capacity."
"Oncoinvent has built up significant expertise in the area of alpha based radiopharmaceuticals R&D and production, offering a considerable opportunity for joint laboratory facility utilization," said Emanuele Ostuni, Chief Executive Officer of ARTBIO. "We see this partnership as a key collaboration that further strengthens the greater Oslo radiopharmaceutical hub."
About Oncoinvent
Oncoinvent ASA is a clinical stage, radiopharmaceutical company developing innovative treatments for solid cancers. The technology platform is focused on the use of alpha-emitting radionuclides to deliver powerful radiation directly to cancer cells. The Company's lead product candidate, Radspherin, is being advanced through clinical development by a team with experience from all stages of radiopharmaceutical development. Internal manufacturing and supply chain capabilities have been established, which now have the capacity to supply Radspherinfor multi-center phase 2 clinical studies.
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are forward-looking statements and are not a representation that Oncoinvent's plans, estimates, or expectations will be achieved. These forward-looking statements represent Oncoinvent's expectations as of the date of this press release, and Oncoinvent disclaims any obligation to update the forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including with respect to whether the results of clinical or other studies will support the use of our product offerings, the impact of results of such studies, our expectations of the reliability, accuracy and performance of our tests, or of the benefits of our tests and product offerings to patients, providers and payers.
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Contacts:
For further information, please contact:
Oystein Soug, Chief Executive Officer
Email: soug@oncoinvent.com
Tore Kvam, Chief Financial Officer
Email: kvam@oncoinvent.com
IR enquiries:
Courtney Mogerley, Precision AQ
Email: Courtney.Mogerley@precisionaq.com
