SOFIE affiliate, iTheranostics, executes agreement for its promising library of Fibroblast Activation Protein (FAP) targeted theranostics
- Novartis has acquired global development and commercial rights to therapeutic applications for iTheranostics' library of FAP-targeted drugs licensed from University of Heidelberg
- Terms of the agreement are undisclosed but include upfront consideration along with milestone payments and royalties
- Novartis will develop therapeutic indications of the Heidelberg FAP-targeted family of compounds
- iTheranostics and SOFIE may facilitate clinical supply and are responsible for the commercialization of FAP-targeted imaging agents globally
DOVER, Del., March 30, 2021 /PRNewswire/ -- SOFIE, an established Radiopharmaceutical Contract Manufacturing Organization and GMP radiopharmacy network, has executed an assignment agreement that provides exclusive rights to Novartis to develop therapeutic applications for a library of FAP-targeted agents. SOFIE may facilitate clinical supply and is responsible for the commercialization of FAP-targeted PET imaging tracers globally.
SOFIE's Chief Revenue Officer, Philipp Czernin stated, "The timing of this deal couldn't have come at a better time – on the heels of our Series C investment round, which was led by Jubilant Pharma. We will redeploy the capital from both sources to grow our US and potentially global radiopharmacy presence and continue to be on the hunt for exciting new theranostic targets. We are thrilled to have completed this agreement with Novartis and hope that it will accelerate the development path of FAP-targeted radioligand therapies significantly."
SOFIE's President and CEO, Patrick Phelps, added, "We are grateful for the trust the academic inventors and administration of Heidelberg University have shown us – and have applied everything we learned as an academic spinout company to structure a deal which truly aligns risk and upside. "
About SOFIE & iTheranostics
SOFIE's vision is to improve patient outcomes by developing and delivering molecular diagnostics and therapeutics (theranostics). With its robust radiopharmaceutical production and distribution network, mature contract manufacturing services, and now, high value Theranostic intellectual property, SOFIE is poised to deliver on the promise of nuclear medicine. For more information, please visit https://sofie.com or contact firstname.lastname@example.org. iTheranostics is a wholly controlled subsidiary of SOFIE whose ownership is held by the academic inventors of FAPI and SOFIE.
About FAPI for PET Imaging of solid tumors
FAPI PET visualizes the fibroblast activation protein (FAP) which is overexpressed in cancer associated fibroblasts (CAFs). CAFs are representing an integral component of > 90% of epithelial tumors. FAPI PET is the first PET tracer not only complementing FDG but in a number of solid tumor indications potentially outperforming. Moreover, in vivo visualization of FAP expression with FAPI PET will in the future allow for patient selection and treatment monitoring of both, radioactive and non-radioactive FAP targeted therapies.
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