Curium Plans to Significantly Expand Lutetium-177 Capacity and Pet Footprint With Agreement to Acqui
The proposed acquisition of Eczacıbaşı-Monrol will:
- Build on existing partnership in Lu-177 creating a leading manufacturer of the isotope
- Add 12 PET sites to Curium’s existing network in geographies where Curium is not present today
- Add SPECT manufacturing capabilities and extensive logistics infrastructure to Curium
- Benefit patients with strengthened reliability for diagnostic and therapeutic solutions
PARIS, April 08, 2024 (GLOBE NEWSWIRE) -- Curium, a world leader in nuclear medicine, announced today that it has entered into an agreement with Eczacıbaşı Holding and Bozlu Group for the acquisition of Eczacıbaşı-Monrol Nuclear Product Co. (Monrol), a dedicated specialist in nuclear medicine. The acquisition is expected to bring together highly complementary geographical footprints, lutetium-177 (Lu-177) capabilities, and PET & SPECT nuclear medicine infrastructure, as well as facilitate the development of cutting-edge radionuclides and radiopharmaceuticals pipelines for diagnostic and therapeutic purposes.
Importantly, the acquisition will add significant Lu-177 manufacturing capacity to Curium to meet the growing demand for Lu-177 around the world for the benefit of more than 100,000 critically ill patients worldwide over the next five years. It will expand Curium’s PET footprint of 34 sites in Western Europe and Asia with the addition of 12 owned and partnered sites in Eastern Europe and MENA regions. In addition, Eczacıbaşı-Monrol’s manufacturing and logistics infrastructure in Istanbul, Turkey, will add significant scale to Curium’s vertically integrated production and distribution capabilities.
Mr. Chaitanya Tatineni, Curium’s CEO International Markets commented: “We are extremely pleased to have reached an agreement for the acquisition of Eczacıbaşı-Monrol – building on our existing strong partnership and the commitment of both companies to transform the lives of patients around the world. Eczacıbaşı-Monrol’s complementary PET network, Lu-177 capacity, extensive manufacturing and logistics infrastructure, and location as a global distribution hub offers significant benefits for patients requiring life-changing diagnostic and therapeutic solutions once the transaction is completed.”
Mr. Aydin Kucuk General Manager of Eczacıbaşı-Monrol added: “Building on our existing two-year Lu-177 partnership, today’s announcement is a natural evolution of the collaboration between our two companies. We are excited about the benefits of integrating with Curium’s global footprint, product portfolio, and innovations in theranostics for the millions of patients that we serve.”
Mr. Emin Fadıllıoğlu, CEO of Eczacıbaşı Healthcare Group added: “I am extremely proud of what Eczacıbaşı-Monrol’s teams have achieved in developing new technology platforms, expanding the PET network, developing SPECT capabilities, and serving patients. The partnership of Curium and Eczacıbaşı-Monrol will strengthen their future ambitions.”
The completion of this transaction is contingent upon meeting customary closing conditions, including regulatory approvals. Eczacıbaşı Holding and Curium are fully committed to navigating through this process efficiently and expect to finalize the transaction in due course. The Parties expect to be able to close this transaction once the customary regulatory approvals will have been obtained.
About Curium
Curium is a world leader in nuclear medicine. We develop, manufacture, and distribute world-class radiopharmaceutical products to help patients around the globe. Our proven heritage combined with a pioneering approach are the hallmarks to deliver innovation, excellence, and unparalleled service.
With manufacturing facilities across Europe and the United States, Curium delivers SPECT, PET and therapeutic radiopharmaceutical solutions for life-threatening diseases to over 14 million patients annually. The name ‘Curium’ honors the legacy of pioneering radioactive materials researchers Marie and Pierre Curie, after whom the radioactive element curium was named and emphasizes our focus on nuclear medicine. To learn more, visit www.curiumpharma.com
For more information:
Ben Valdimarsson
Reputation Inc
Mob: +44 (0)788 9805930
Email: bavldimarsson@reputation-inc.com
Ross Bethell
VP, Head of Global Communications
Email: communications@curiumpharma.com
About Eczacıbaşı-Monrol
Headquartered in Istanbul, Monrol is a nuclear medicine company leading innovation for the development and manufacturing of GMP grade radioisotopes and radiopharmaceuticals, Monrol distributes its world-class radiopharmaceutical products portfolio in global markets. As both a CMO and CDMO, Monrol provides early development support to customers and offers fully integrated services for nimble, lean, virtual companies taking new product concepts into clinical trials, demonstrating proof of concept, and going into first-in-human studies. Monrol is committed to transform and improve patient journey in cancer treatment through a portfolio of radiopharmaceutical products that it distributes to more than 70 countries around the globe. To learn more, visit www.monrol.com.