On June 1, 2023 Ariceum Therapeutics (Ariceum), a private biotech company developing radiopharmaceutical products for the diagnosis and treatment of certain hard-to-treat cancers, reported the acquisition of Theragnostics Ltd., a UK-based private biopharmaceutical company engaged in the development of radio-labelled PARP inhibitors for the diagnosis and treatment of tumours (Press release, Ariceum Therapeutics, JUN 1, 2023, View Source [SID1234632328]).

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The acquisition provides Ariceum with an expanded portfolio of therapeutic and diagnostic assets in late preclinical and early clinical development. It also comprises NEPHROSCANTM, a diagnostic product in partnership with GE Healthcare which is approved by the US Food and Drug Administration (FDA) and affords Ariceum expanded operations in the US.

Under the terms of the acquisition, Ariceum will acquire 100% of the shares of Theragnostics in exchange for an upfront payment of $2.5 million in cash and milestone payments totalling up to $41.5 million.

Manfred Rüdiger, PhD, Chief Executive Officer of Ariceum Therapeutics, said: "We are delighted to welcome Theragnostics’ expert radiopharmaceutical team to Ariceum and to integrate its innovative products into our proprietary pipeline through this acquisition. In full alignment with our strategy, Ariceum continues to create value for its shareholders by building and advancing a well-balanced portfolio from early discovery to mid-clinical stage projects up to FDA approved NEPHROSCANTM which advances our presence in the US."

Greg Mullen, Former Chief Executive Officer of Theragnostics and Newly Appointed Chief Operating Officer of Ariceum Therapeutics, commented: "The acquisition by Ariceum Therapeutics is an exciting opportunity for Theragnostics and we are delighted to be part of a world-leading and innovative radiopharmaceutical company, ensuring the rapid clinical development of PARP inhibitor Auger therapy."

Theragnostics’ assets obtained by Ariceum include ATD 001 (formerly THG 008), a novel fluorine-18 radiolabelled PARP inhibitor for the imaging cancer, and AT-001 (formerly THG 009), a I-123-labelled PARP inhibitor which is in development for the treatment of aggressively growing cancers and already having UK ILAP approval for primary and recurrent glioblastoma. Theragnostics’ early non-clinical data have demonstrated promising results which support progression of AT-001 into a Phase 1 clinical study in recurrent glioblastoma. Auger emitters such as I-123 combined with a PARP inhibitor enable delivery of radionuclides to the DNA to selectively kill cancer cells whilst sparing healthy tissue, thereby offering a potentially powerful treatment option in several cancer indications.

In addition, Ariceum will gain access to the US FDA-approved product, NEPHROSCANTM (partnered with GE Healthcare), a radioactive diagnostic agent indicated for use as an aid in the scintigraphic evaluation of renal parenchymal disorders in adults and paediatric patients. Ariceum will also acquire Theragnostics Ga-68 kit technology IP which is licensed by Theragnostics to Novartis for their approved Ga-68 PSMA kit, LOCAMETZ, a diagnostic medicine used in adults with prostate cancer.