Ionetix Corporation, a Lansing, Mich.-based cyclotron technology innovator and isotope manufacturer for diagnostic and therapeutic applications, received a financing of undisclosed amount.
Backers were Eli Lilly and Company, as well as existing shareholders led by Tees River Limited.
The company intends to use the funds for continued development of its core technology offerings and expansion of the current cyclotron network in support of its strategic growth plans in the late-stage clinical and commercial settings.
Led by Kevin Cameron, Chief Executive Officer, Ionetix uses its proprietary cyclotron technology platform to develop innovative solutions that enable access to scarce radioisotopes used for both diagnostic and therapeutic radiopharmaceuticals. Ionetix offers both high-purity Actinium-225 (Ac-225) and Astatine-211 (At-211) for use in targeted alpha therapies. The company also provides N-13, F-18 and Ga-68 for diagnostic imaging. Its distribution supply chain includes contract drug manufacturing and “white glove” distribution logistics, allowing global access to these imaging agents and targeted radiotherapies.
The financing follows prior Actinium supply and convertible debt agreements with Point Biopharma, which has since been acquired by Lilly.
FinSMEs
07/08/2024