SEATTLE, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Perspective Therapeutics, Inc. ("Perspective” or the "Company”) (NYSE AMERICAN: CATX), a radiopharmaceutical company that is pioneering advanced treatment applications for cancers throughout the body, today is celebrating the first shipment and patient dosing from its second manufacturing facility for the production of its 203Pb- and 212Pb-labeled radiopharmaceuticals.
Located in Somerset, New Jersey, this facility is now operational to supply investigational products to support VMT-α-NET clinical studies, in addition to the Coralville, Iowa facility which has been producing the Company's investigational products for over 15 months. With three manufacturing suites that can meet Current Good Manufacturing Practice (cGMP) requirements, the Somerset facility is expected to have the capacity to meet future clinical trial and commercial demands at major cancer treatment centers throughout the Northeastern U.S. Until the close of its acquisition by Perspective in March 2024, this facility was operated by Lantheus Holdings, Inc., the leading radiopharmaceutical-focused company. This facility previously produced Azedra, which contained a form of radioactive iodine and received approval from the U.S. Food & Drug Administration (FDA) in 2018 for the treatment of rare tumors of the adrenal gland.
"Today marks an exciting milestone as we start shipping investigational products from this state-of-the-art facility,” commented Shane Cobb, Perspective's Executive Vice President of Operations. "Going operational seven months after taking possession of the facility allows us to accelerate our efforts in delivering investigational products and, pending approval, new radiopharmaceutical therapies."
"We are thrilled to celebrate the opening of this facility, which is a step forward in building out our manufacturing and supply chain capabilities,” said Thijs Spoor, Perspective's Chief Executive Officer. "It reflects our commitment to delivering targeted alpha-particle therapies to patients in critical need. We believe our network approach aligns with patient interest and the half-life profiles of isotopes contained in our investigational products. We look forward to replicating this effort and adding sites strategically to enhance our network to support key treatment hubs across the U.S."
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 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.
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 United States Private Securities Litigation Reform Act of 1995. Statements in this press release that are not statements of historical fact are forward-looking statements. Words such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "estimate," "believe," "predict," "potential" or "continue" or the negative of these terms or other similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words. Forward-looking statements in this press release include statements concerning, among other things, the Company's ability to pioneer advanced treatment applications for cancers throughout the body; the ability of the Company's manufacturing suites in Somerset, New Jersey to meet cGMP requirements; the capacity of the Company's Somerset, New Jersey facility to meet future clinical trial and commercial demands at major cancer treatment centers throughout the Northeastern U.S.; the Company's ability to "accelerate [its] efforts in delivering investigational products and, pending approval, new radiopharmaceutical therapies;” the Company's plans to build out its manufacturing and supply chain capabilities and to "replicat[e] this effort and add[ ] sites strategically to enhance [its] network to support key treatment hubs across the U.S.;” the Company's prediction that complementary imaging diagnostics that incorporate certain targeting peptides provide the opportunity to personalize treatment and optimize patient outcomes; the Company's expectation that its "theranostic" approach enables the ability to see specific tumors and then treat it to potentially improve efficacy and minimize toxicity; the Company's ability to develop a proprietary 212Pb generator to secure key isotopes for clinical trial and commercial operations; the Company's clinical development plans and the expected timing thereof; the expected timing for availability and release of data; expectations regarding the potential market opportunities for the Company's product candidates; the potential functionality, capabilities, the benefits of the Company's product candidates, and the potential application of these product candidates for other disease indications; the Company's expectations, beliefs, intentions, and strategies regarding the future; the Company's intentions to improve important aspects of care in cancer treatment; and other statements that are not historical fact.
The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements, and you should not place undue reliance on the forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the Company's actual results to differ materially from the results described in or implied by the forward-looking statements. Certain factors that may cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading "Risk Factors" in the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC"), in the Company's other filings with the SEC, and in the Company's future reports to be filed with the SEC and available at www.sec.gov. Forward-looking statements contained in this news release are made as of this date. Unless required to do so by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT: Media and Investor Relations Contacts:
Perspective Therapeutics IR:
Annie Cheng
ir@perspectivetherapeutics.com
Russo Partners, LLC
Nic Johnson
PerspectiveIR@russopr.com