CHALK RIVER, Ontario--(BUSINESS WIRE)--Actineer, a joint venture between ITM and Canadian Nuclear Laboratories (CNL) Ltd., today announced the appointment of Joseph Oliverio as President and Chief Executive Officer. With extensive industry leadership experience, Mr. Oliverio is poised to drive Actineer’s global expansion in Actinium-225 (Ac-225) production.
Mr. Oliverio joins Actineer with over three decades of leadership experience across the nuclear medicine, medical device and radiopharmaceutical industries, including at Ionetix, IMAGIN Molecular Corporation and Positron Corporation (OTC: POSC). He takes the helm as Actineer moves forward with the scaling of its Ac-225 manufacturing capabilities and preparations to supply the radiopharmaceutical industry with this valuable alpha emitter.
“Actinium-225 holds promising potential in cancer treatment. With the appointment of Joseph Oliverio as President and CEO of Actineer, the Joint Venture is well-positioned to shape the future of this critical field,” said Dr. Andrew Cavey, CEO of ITM and Actineer Board Chairman. “His expertise will be instrumental in advancing the team’s efforts to ensure a reliable and scalable supply of Actinium-225, in an effort to meet the global demand.”
“With the appointment of Joseph as President and CEO, we are embarking on a new phase in Actineer’s corporate development,” said Jack Craig Jr., President and CEO of CNL and Actineer Board Member. “Joseph’s leadership experience across radiopharmaceutical organizations, particularly in driving growth strategies for alpha therapy segments and overseeing joint ventures, will be an invaluable asset as we ramp up our production efforts for GMP-grade Actinium-225 and begin supplying Actineer’s partners.”
Before joining Actineer, Mr. Oliverio held several senior executive roles in the radiopharmaceutical industry. Most recently, he served as VP of Clinical Operations at Ionetix Corporation, where he spearheaded their cardiac radiopharmaceutical clinical growth strategy, established new joint ventures with medical and private equity groups, contributed to their Targeted Alpha Therapy business segment, advised on regulatory product submissions, and managed their clinical trial. As President and CEO of IMAGIN Molecular Corporation, he led efforts to identify joint venture partners for cardiac and oncologic imaging. Prior to this, Mr. Oliverio was President and Chairman of the Board at Positron Corporation, where he managed a joint venture with Neusoft, expanded the PET scanner business, acquired IS2 Medical Systems, and successfully led multiple funding rounds. Mr. Oliverio holds an MBA in Technology Management from the University of Phoenix, Arizona, and a Bachelor of Science in Nuclear Medicine Technology from SUNY University at Buffalo, New York.
“Actineer is poised to become one of the major global suppliers of Actinium-225. I am privileged to work with such premier institutions as CNL and ITM and am eager to leverage my expertise and work together with the Actineer team to achieve this goal and thereby support the development of innovative targeted alpha radiopharmaceuticals for the treatment of challenging cancer indications,” said Joseph Oliverio, President and CEO of Actineer.
ITM’s and CNL’s combined expertise is the driving force behind Actineer’s mission to serve the radiopharmaceutical industry with Ac-225 as the demand for this scarce and promising alpha-emitter continues to rise.
About Actineer, Inc.
Actineer™ Inc. is a joint venture company between Canadian Nuclear Laboratories (CNL) and ITM Isotope Technologies Munich SE (ITM) dedicated to advancing Ac-225 technologies, quickly securing supply, and producing industrial-scale quantities of this valuable, rare medical radioisotope for the treatment of cancer. Founded in October 2023, Actineer™ Inc. together with its strong supply chain collaborators will progress Ac-225 development, production and processing technologies. It has established short-term production capabilities that is expected to lead to significantly boosting international supplies, while working long-term towards the construction of a new Actinium Production Facility (APF) in Canada. The joint venture’s mission is to fulfil the unmet global manufacturing and production needs of this coveted radioisotope with significant potential in the fight against cancer.
Contacts
Actineer, Inc
Science Collaboration Centre
286 Plant Road
Chalk River, Ontario, KOJ 1J0 Canada
info@actineer.com
For media inquiries only: actineer@trophic.eu
