On June 27, 2022 BWX Technologies, Inc. (NYSE: BWXT) reported that subsidiary BWXT Medical Ltd. has executed a commercial agreement with Bayer AG (Bayer) to supply high-purity Actinium-225 (Ac-225) (Press release, Bayer, JUN 27, 2022, View Source [SID1234616297]).

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Today’s announcement follows the agreement reached by the two companies in September 2021. Under the terms of the commercial agreement, Bayer will purchase high-purity Ac-225 from BWXT Medical at pre-determined prices. The parties expect supply to commence later this year.

Ac-225 is a highly powerful radioisotope used in targeted alpha therapies (TATs). This emerging field combines Ac-225 with specific tumor-seeking targeting moieties, which deliver alpha radiation directly to tumors.

BWXT Medical is a global supplier of medical isotopes and radiopharmaceuticals. Bayer is a global enterprise with core competencies in the life science fields of healthcare and nutrition.

"We are very pleased to enter into this agreement with Bayer, one of the global leaders in the rapidly emerging field of targeted radionuclide therapies," said Martyn Coombs, president of BWXT Medical. "Targeted radionuclide therapies are developed to improve outcomes for patients with different types of cancers. We will leverage our nuclear medicine strengths to collaborate with Bayer over the long term."