BELOIT, Wis. and SAN DIEGO, Jan. 4,
2023 /PRNewswire/ -- NorthStar Medical Radioisotopes, LLC, a
global innovator in the development, production and
commercialization of radiopharmaceuticals used for therapeutic
applications and medical imaging, and Inhibrx, Inc. (Nasdaq: INBX),
a biopharmaceutical company dedicated to the development of
therapeutics for oncology and rare diseases, today announced a
collaboration to develop and produce novel radiopharmaceuticals for
the treatment of cancer.
Inhibrx will use its optimized single-domain antibodies (sdAbs)
to create a new generation of targeted alpha therapies. Inhibrx has
an extensive history of sdAb innovation and has developed a library
of sdAbs targeting tumor-associated antigens. sdAbs are ideal
biological targeting agents for delivery of radioisotopes, due to
their high binding affinity and specificity to tumor cells or
antigen-expressing cells within the tumor microenvironment.
Alpha-emitting radioisotopes have a short range of activity and
high energy transfer and, when targeted, allow for precise killing
of cancer cells with minimal damage to surrounding healthy
tissues.
NorthStar is expanding its
industry-leading position in the growing area of therapeutic
radioisotopes and is now poised to be the first commercial-scale
producer of non-carrier added (n.c.a.) actinium-225 (Ac-225) and
copper-67 (Cu-67). In the past, drugs containing Ac-225 have shown
clinical efficacy, but previous iterations have been limited by
lack of sufficient actinium supply. The union of precision-targeted
sdAbs with an ample actinium supply has the potential to enable
development of novel targeted radiopharmaceutical therapies that
may provide accessible, effective options for cancer treatment.
Under this agreement with Inhibrx, NorthStar will support the development of a
prespecified number of Inhibrx's novel biologic products by
providing the Ac-225 supply and access to its integrated
radiopharmaceutical contract development and manufacturing
organization (CDMO) services. NorthStar will also prepare Inhibrx patient
doses for clinical studies and, upon approval, may manufacture and
supply radionuclides for Inhibrx's commercial use.
"NorthStar is at the forefront
of medical radioisotope development and production, and we are
pleased to join forces with Inhibrx to combine our technology with
their innovative therapeutic candidates to advance the field of
targeted alpha therapies," said Stephen
Merrick, Chief Executive Officer of NorthStar Medical
Radioisotopes. "Our radiopharmaceutical expertise with the rare
therapeutic radioisotope, n.c.a. Ac-225, coupled with our
manufacturing capability, allows us to offer a unique support
package to our development collaborators. We have sufficient Ac-225
production capacity to meet the demand of all of our existing
supply agreements and our location affords us the flexibility to
scale further as market demand increases."
About NorthStar Medical Radioisotopes, LLC
NorthStar
Medical Radioisotopes is a commercial-stage nuclear medicine
company focused on advancing patient care by providing diagnostic
and therapeutic radioisotopes, novel radiopharmaceuticals and
customized radiopharmaceutical development services. Its proven
management team and state-of-the-art, environmentally preferable
and non-uranium based technologies have made it an emerging leader
at the forefront of U.S. medical radioisotope and
radiopharmaceutical production. NorthStar is the sole domestic producer of
molybdenum-99 (Mo-99), used to generate the standard-of-care
diagnostic imaging radioisotope for assessing heart disease and
cancer. It is expanding its industry-leading position in the
growing area of therapeutic radioisotopes, used in targeted
radiopharmaceutical therapy to treat cancer and other serious
diseases, and is poised to be the first commercial-scale producer
of non-carrier added (n.c.a.) actinium-225 (Ac-225) and copper-67
(Cu-67). NorthStar's
Radiopharmaceutical Contract Development and Manufacturing
Organization (CDMO/CMO) services unit will provide customized
service offerings and specialized radiopharmaceutical expertise to
help biopharmaceutical companies rapidly advance their development
and commercialization programs. For more information about
NorthStar's comprehensive
portfolio and patient-focused services, visit:
www.northstarnm.com.
About Inhibrx, Inc.
Inhibrx is a clinical-stage
biopharmaceutical company focused on developing a broad pipeline of
novel biologic therapeutic candidates in oncology and orphan
diseases. As a pioneer of protein engineering, Inhibrx possesses
broad scientific know-how, a library of optimized sdAbs and a
robust, differentiated approach to therapeutic development.
Inhibrx's sdAbs and custom engineered proteins are endowed with
optimal therapeutic properties and can be readily advanced through
process development as standalone binders or strategically
assembled into bespoke (fit-for-purpose) therapeutics that address
the specific requirements of complex target and disease.For more
information, please visit www.inhibrx.com.
Inhibrx, Inc. Forward Looking Statements
Inhibrx
cautions you that statements contained in this press release
regarding matters that are not historical facts are forward-looking
statements. These forward-looking statements include, but are not
limited to, statements regarding: judgments and beliefs regarding
the success or potential success of the collaboration and related
development efforts, the parties' manufacturing and future
commercialization capabilities and ability to meet supply demands,
the parties' respective development efforts and assessments of
regulatory approval potential.These statements are based on
Inhibrx's current beliefs and expectations. These forward-looking
statements include, but are not limited to, statements regarding:
Inhibrx's and its investigators' judgments and beliefs regarding
the strength of Inhibrx's pipeline and the observed safety and
efficacy to date of its therapeutic candidates; future clinical
development of Inhibrx's therapeutic candidates, including any
potential for accelerated approval. Actual results may differ from
those set forth in this press release due to the risks and
uncertainties inherent in Inhibrx's business, including, without
limitation, risks and uncertainties regarding: the initiation,
timing, progress and results of its preclinical studies and
clinical trials, and its research and development programs; its
ability to advance therapeutic candidates into, and successfully
complete, clinical trials; its interpretation of preclinical data
and initial, interim or preliminary data from its clinical trials,
including interpretations regarding disease control and disease
response; the timing or likelihood of regulatory filings and
approvals; the successful commercialization of its therapeutic
candidates, if approved; the pricing, coverage and reimbursement of
its therapeutic candidates, if approved; its ability to utilize its
technology platform to generate and advance additional therapeutic
candidates; the implementation of its business model and strategic
plans for its business and therapeutic candidates; its ability to
successfully manufacture therapeutic candidates for clinical trials
and commercial use, if approved; its ability to contract with
third-party suppliers and manufacturers and their ability to
perform adequately; the scope of protection it is able to establish
and maintain for intellectual property rights covering its
therapeutic candidates; its ability to enter into strategic
partnerships and the potential benefits of these partnerships; its
estimates regarding expenses, capital requirements and needs for
additional financing and financial performance; its expectations
regarding the impact of the COVID-19 pandemic on its business; and
other risks described from time to time in the "Risk Factors"
section of its filings with the U.S. Securities and Exchange
Commission, including those described in its Annual Report on Form
10-K as well as its Quarterly Reports on Form 10-Q, and
supplemented from time to time by its Current Reports on Form 8-K.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and Inhibrx undertakes no obligation to update these statements to
reflect events that occur or circumstances that exist after the
date hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement, which is made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995.
CONTACTS:
For NorthStar Medical Radioisotopes,
LLC
Corporate:
Lisa Holst
Vice President Sales and Marketing
678-471-9027
lholst@northstarnm.com
Investor Relations:
Paul Estrem
Executive Vice President and Chief Financial Officer
608-987-8318
pestrem@northstarnm.com
Media:
Priscilla Harlan
781-799-7917
pharlan@shiningrockllc.com
For Inhibrx, Inc.
Investor and Media:
Kelly D. Deck
Chief Financial Officer
858-795-4260
kelly@inhibrx.com
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SOURCE Inhibrx Inc.