Algeta and Lumiphore Announce Global Agreement for the Development of Targeted Alpha-Pharmaceutical Therapeutics
RICHMOND, Calif., Oct. 21 /PRNewswire/ -- Lumiphore Inc., a biotechnology leader in new proprietary bifunctional metal-chelation technology for use in high-value imaging, diagnostics, and therapeutics and Algeta ASA (OSE:ALGETA), the cancer therapeutics company, announced that they have signed a global agreement on incorporation of Lumiphore's Lumi4® complexes in Algeta's targeted radiotherapeutics and companion diagnostics.
Under the agreement, Algeta has an option to the exclusive rights to incorporate Lumi4® isophthalamide chelation technology into future targeted radiopharmaceutical therapeutics for cancer.
"Lumiphore's goal is to bring the benefits of bifunctional metal-chelation technology to therapeutic markets that use targeted radiopharmaceuticals to treat cancer. The ability to chelate radioactive metal isotopes and covalently attach them to therapeutic antibodies, peptides, proteins, or other receptor targeting molecules will benefit targeted delivery to cancer sites and has the potential to make current therapeutic antibodies more effective," said Dr. Ken Raymond, President and CEO of Lumiphore.
Algeta has proprietary technology relating to the use of the alpha emitter thorium-227 to protein/peptides to target specific cancer cells. Thorium-227 is an isotope that emits high-energy alpha particles. Such isotopes are of considerable interest in the treatment of cancer as they are potent at killing tumor cells but have a highly localized effect. By linking thorium-227 to tumor-targeting molecules such as monoclonal antibodies, Algeta has the potential to create a pipeline of new generation alpha-pharmaceuticals designed to specifically seek and destroy cancers while minimizing damage to surrounding healthy tissues. "Using Lumi4® bifunctional chelates," explained Thomas Ramdahl, Chief Technology Officer of Algeta, "could create a new class of radioimmunotherapeutics. By linking thorium-227 to selected tumor targeting an