6/5/2023
-One of the largest private investment rounds in European biotech to-date
-The investment will enhance ITM’s radiopharmaceutical pipeline, bolster commercial infrastructure, expand leading manufacturing capabilities, and enable strategic initiatives
-QIA invests alongside Temasek and BlackRock
Garching / Munich, June 5, 2023 – QIA took part in a EUR 255 million equity investment round led by Temasek in ITM Isotope Technologies Munich SE (“ITM”), a leading radiopharmaceutical biotech company. BlackRock Alternatives also participated in the investment round, as well as Nextech, ATHOS and Carbyne.
Primary net proceeds of the investment will support further development of ITM’s broad Targeted Radionuclide Therapies oncology pipeline and enhance commercial readiness as the company nears the final stages of phase III clinical development for its lead pipeline candidate, ITM-11 (n.c.a. 177Lu-edotreotide) in gastroenteropancreatic neuroendocrine tumors (GEP-NETs).
In addition, ITM will expand its market-leading manufacturing capacities and infrastructure for n.c.a. 177Lu, scale GMP-manufacturing for 225Ac, and expand in-house drug product manufacturing capabilities to accelerate the global access to radiopharmaceuticals worldwide.
The round comprised mostly of primary issued capital alongside a minority transaction of secondary shares.
This investment comes as QIA continues to increase its exposure to the healthcare industry, investing in innovation and effectively supporting healthcare companies with long-term resilience.