GT Medical Technologies, Inc. (GT MedTech) announces the successful acquisition of Cesium-131 and related assets from Isoray Medical, a subsidiary of Perspective Therapeutics, Inc.
| Company Becomes Sole Manufacturer of Cesium-131 Seeds for Cancer Treatments TEMPE, Ariz., April 15, 2024 /PRNewswire/ -- GT Medical Technologies, Inc. (GT MedTech) announces the successful acquisition of Cesium-131 and related assets from IsoRay Medical, Inc., a subsidiary of Perspective Therapeutics, Inc. This acquisition solidifies GT MedTech’s position as sole manufacturer of Cesium-131 brachytherapy seeds for cancer treatments.
The completion of the acquisition is a significant investment for GT MedTech to vertically integrate the Cesium-131 manufacturing process, enhancing supply chain competencies and capabilities. This bold move underscores the company’s commitment to expand adoption of GammaTile® in the U.S. Comprised of four Cesium-131 radioactive seeds embedded within a bioresorbable collagen tile, each GammaTile is revolutionizing the treatment of brain tumors by delivering immediate targeted radiation at the time of surgery directly to the tumor bed to help eradicate residual tumor cells while minimizing impact to healthy tissue. “With over 1300 patients benefitting from GammaTile implants and ongoing clinical trials underway, GT MedTech is dedicated to establishing GammaTile as an easier treatment option for operable brain tumor patients and a new standard of care. By starting radiation immediately at the time of tumor resection, GammaTile can prevent any delays to the needed radiation. We are excited about this acquisition and eager to utilize our expanded capabilities to propel cancer treatment forward and enhance patient outcomes.” Expressed Per Langoe, CEO of GT MedTech. “I am pleased that the Cesium-131 technology is in capable hands with the dedicated production and commercialization team at GT MedTech,” said Thijs Spoor, Perspective Therapeutics’ CEO. “It is important to Perspective Therapeutics that patients and clinicians continue to have access to the best possible isotope when treating cancer from the inside out.” In addition to brain brachytherapy, Cesium-131 is utilized in other forms of brachytherapy including prostate and gynecological cancers. “This transaction positions GT MedTech as a forward-thinking company to enhance the delivery of GammaTile Therapy in the U.S. market. It bolsters our commitment to excellence in the patient journey and strengthens our partnership with clinicians who use it,” said Hernan Lopez, Executive Vice President of Operations, GT MedTech. GT MedTech welcomes the Isoray team, retaining the Cesium-131 manufacturing facility at its current location in Richland, Washington. Through enhanced integration of capabilities and ongoing investment in operational and supply chain enhancement, the company is poised to further its mission of improving the lives of patients with brain tumor. About GT Medical Technologies, Inc. About Perspective Therapeutics, Inc. Perspective Therapeutics, Inc., is a radiopharmaceutical development company that is pioneering advanced treatment applications for cancers throughout the body. The Company has a proprietary technology that utilizes the alpha emitting isotope 212Pb to deliver powerful radiation specifically to cancer cells via specialized targeting peptides. The Company is also developing complementary imaging diagnostics that incorporate the same targeting peptides which provide the opportunity to personalize treatment and optimize patient outcomes. This “theranostic” approach enables the ability to see the specific tumor and then treat it to potentially improve efficacy and minimize toxicity associated with many other types of cancer treatments. The Company’s melanoma (VMT01) and neuroendocrine tumor (VMT-α-NET) programs have entered Phase 1/2a imaging and therapy trials for the treatment of metastatic melanoma and neuroendocrine tumors at several leading academic institutions. The Company has also developed a proprietary 212Pb generator to secure key isotopes for clinical trial and commercial operations. For more information, please visit the Company’s website at www.perspectivetherapeutics.com. Safe Harbor Statement This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding our expectations, beliefs, or projections. These forward-looking statements are based on management’s current expectations and involve significant risks and uncertainties that may cause actual results, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. Such factors and risks which could cause actual results to differ materially from those in the forward-looking statements include, without limitation: regulatory risks such as changing CMS, NRC, FDA rules and regulations impacting clearance and/or reimbursement of indicated products; supply chain disruptions; clinical trial and investigation risks including adverse patient outcomes such as death and other severe complications; cost of capital and inflationary risk of raw materials; legal and regulatory risks associated with potential mergers, acquisitions, investments in joint ventures; other global and regulatory uncertainties. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Media Contacts: Lori Kagan Dawn Fallon
SOURCE GT Medical Technologies |
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