Globally focused radiopharmaceutical company
achieves significant milestone to accelerate the operationalization
of their 80,000 sq ft radioligand manufacturing facility
POINT Biopharma Inc. (POINT), a radiopharmaceutical company
dedicated to bringing the many benefits of precision radioligand
therapy to cancer patients, announced today that the U.S. Nuclear
Regulatory Commission (NRC) has issued a Materials License for its
new production facility located in Indianapolis, Indiana.
POINT is currently finishing renovations to its
80,000-square-foot radiopharmaceutical manufacturing center which,
when complete, will make it one of the largest, state-of-the-art,
Good Manufacturing Practices (GMP) radioligand manufacturing
facilities in the world. The NRC Materials License authorizes the
handling of nuclear material in chemical and/or physical form,
enabling POINT to begin work with a wide variety of radioisotopes
on-site and complete testing and qualification of its
operations.
“The completion of our Indianapolis facility and scope of this
Materials License will enable POINT to quickly bring its drug
manufacturing operations online,” said Todd Hockemeyer, EVP, US
Manufacturing Operations at POINT Biopharma. “Our mission is to
make radioligand therapy applicable to more cancers, available to
more people, thereby improving the lives of cancer patients and
their families everywhere. This Materials License is an important
milestone in our journey to deliver on our mission. ”
“I am proud of the many accomplishments Todd and his team in
Indiana have achieved,” added Joe McCann, CEO of POINT Biopharma.
“Attaining the NRC Materials License means we can get to work using
radioisotopes like Lutetium-177 and Actinium-225 at our facility,
which is a key milestone in the path to manufacturing our products
in Indianapolis.”
POINT expects the Indianapolis facility will begin to provide
supply for its Phase 3 clinical trial targeting metastatic
castration resistant prostate cancer later this year. More
information about POINT’s Study Evaluating mCRPC Treatment Using
PSMA [Lu-177]-PNT2002 Therapy After Second-line Hormonal Treatment
(SPLASH) is available at https://www.splashtrial.com .
POINT Biopharma has entered into a definitive merger agreement
with Research Alliance Corp. I (Nasdaq: RACA). Upon closing, the
combined company is expected to be listed on Nasdaq under the
ticker symbol “PNT”. A full description of the terms of the
business combination can be found in registration statement on Form
S-4 filed with the SEC by RACA.
About Therapeutics Acquisition Corp, d/b/a Research Alliance
Corp. I
Research Alliance Corp. I is sponsored by RA Capital Management,
L.P., and is led by Chairman and CEO Peter Kolchinsky, PhD and CFO
Matthew Hammond, PhD. RACA is a blank check company formed for the
purpose of effecting a business combination with one or more
businesses in the healthcare industry.
About RA Capital Management
RA Capital is a multi-stage investment manager dedicated to
evidence-based investing in public and private healthcare and life
science companies that are developing drugs, medical devices, and
diagnostics. The flexibility of its strategy allows RA Capital to
provide seed funding to startups and to lead private, IPO, and
follow-on financings for its portfolio companies, allowing
management teams to drive value creation from inception through
commercialization.
About POINT Biopharma
POINT Biopharma is a globally focused radiopharmaceutical
company building a platform for the clinical development and
commercialization of radioligands that fight cancer. POINT is
combining a portfolio of best-in-class radiopharmaceutical assets,
a seasoned management team, strategic partnerships in radioisotope
supply, manufacturing technology and novel direct-to-patient
targeting to revolutionize theragnostic drug development and
radioligand commercialization. Learn more at
https://www.pointbiopharma.com.
Important Information About the Business Combination and
Where to Find It
A full description of the terms of the business combination is
provided in a registration statement on Form S-4 filed with the SEC
by Therapeutics Acquisition Corp. d/b/a/ Research Alliance Corp. I.
(“RACA”) which includes a prospectus with respect to the Combined
Company’s securities to be issued in connection with the business
combination and a proxy statement with respect to the shareholder
meeting of RACA to vote on the business combination. RACA urges
its investors, shareholders and other interested persons to read
the preliminary proxy statement/ prospectus as well as other
documents filed with the SEC because these documents will contain
important information about RACA, POINT and the business
combination. After the registration statement is declared
effective, the definitive proxy statement/prospectus to be included
in the registration statement will be mailed to shareholders of
RACA as of a record date to be established for voting on the
proposed business combination. Shareholders will also be able to
obtain a copy of the S-4, including the proxy statement/prospectus,
and other documents filed with the SEC without charge, by directing
a request to: Research Alliance Corp. I, Attn: Secretary, 200
Berkeley St, 18th floor, Boston, MA 02116. The preliminary and
definitive proxy statement/prospectus to be included in the
registration statement, once available, can also be obtained,
without charge, at the SEC’s website (www.sec.gov).
Participants in the Solicitation
RACA and POINT and their respective directors and executive
officers may be considered participants in the solicitation of
proxies with respect to the proposed business combination described
in this press release under the rules of the SEC. Information about
the directors and executive officers of RACA is set forth in RACA’s
final prospectus for initial public offering filed with the SEC
pursuant to Rule 424(b) of the Securities Act of 1933, as amended
(the “Securities Act”) on July 9, 2020, and is available free of
charge at the SEC’s website at www.sec.gov or by directing a
request to: Research Alliance Corp. I, Attn: Secretary, 200
Berkeley St, 18th floor, Boston, MA 02116. Information regarding
the persons who may, under the rules of the SEC, be deemed
participants in the solicitation of the RACA shareholders in
connection with the proposed business combination will be set forth
in the registration statement containing the proxy
statement/prospectus for the proposed business combination when it
is filed with the SEC. These documents can be obtained free of
charge from the sources indicated above.
Non-Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed business combination and shall not
constitute an offer to sell or a solicitation of an offer to buy
any securities nor shall there be any sale of securities in any
state or jurisdiction in which such offer, solicitation, or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting
the requirements of the Securities Act.
Forward-Looking Statements
This press release contains forward-looking statements that are
based on beliefs and assumptions and on information currently
available. In some cases, you can identify forward-looking
statements by the following words: “may,” “will,” “could,” “would,”
“should,” “expect,” “intend,” “plan,” “anticipate,” “believe,”
“estimate,” “predict,” “project,” “potential,” “continue,”
“ongoing” or the negative of these terms or other comparable
terminology, although not all forward-looking statements contain
these words. These statements involve risks, uncertainties and
other factors that may cause actual results, levels of activity,
performance or achievements to be materially different from the
information expressed or implied by these forward-looking
statements. Although we believe that we have a reasonable basis for
each forward-looking statement contained in this press release, we
caution you that these statements are based on a combination of
facts and factors currently known by us and our projections of the
future, about which we cannot be certain. Forward-looking
statements in this press release include, but are not limited to,
statements regarding the proposed business combination, including
the timing and structure of the business combination, the proceeds
from the business combination, the initial market capitalization of
the Combined Company and the benefits of the business combination,
as well as statements about the potential attributes and benefits
of POINT’s product candidates and the format and timing of POINT’s
product development activities and clinical trials. We cannot
assure you that the forward-looking statements in this press
release will prove to be accurate. These forward-looking statements
are subject to a number of significant risks and uncertainties that
could cause actual results to differ materially from expected
results, including, among others, the ability to complete the
business combination due to the failure to obtain approval from
RACA’s shareholders or satisfy other closing conditions in the
business combination agreement, the occurrence of any event that
could give rise to the termination of the business combination
agreement, the outcome of any legal proceedings that may be
instituted against RACA or POINT following announcement of the
proposed business combination and related transactions, the impact
of COVID-19 on POINT’s business and/or the ability of the parties
to complete the business combination, the ability to obtain or
maintain the listing of RACA’s common stock on Nasdaq following the
proposed business combination, costs related to the proposed
business combination, changes in applicable laws or regulations,
the possibility that RACA or POINT may be adversely affected by
other economic, business, and/or competitive factors, and other
risks and uncertainties, including those to be included under the
header “Risk Factors” in the registration statement on Form S-4 to
be filed by RACA with the SEC and those included under the header
“Risk Factors” in the final prospectus of RACA related to its
initial public offering. Most of these factors are outside of
RACA’s and POINT’s control and are difficult to predict.
Furthermore, if the forward-looking statements prove to be
inaccurate, the inaccuracy may be material. In light of the
significant uncertainties in these forward-looking statements, you
should not regard these statements as a representation or warranty
by us or any other person that we will achieve our objectives and
plans in any specified time frame, or at all. The forward-looking
statements in this press release represent our views as of the date
of this press release. We anticipate that subsequent events and
developments will cause our views to change. However, while we may
elect to update these forward-looking statements at some point in
the future, we have no current intention of doing so except to the
extent required by applicable law. You should, therefore, not rely
on these forward-looking statements as representing our views as of
any date subsequent to the date of this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210428005643/en/
Media Inquiries: Ari Shomair VP, Corporate Affairs
media@pointbiopharma.com (647) 812-2417
https://www.pointbiopharma.com
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