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.
Driven to raise the standard of care and improve the lives of patients with brain tumors, a team of brain tumor specialists formed GT Medical Technologies. GammaTile is FDA-cleared as a treatment for patients with newly diagnosed malignant intracranial neoplasms and patients with recurrent intracranial neoplasms. Since its full market release in the United States in March 2020, GammaTile has been offered in over 100 leading institutions, with more centers being added each month.
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.
