News

October 21, 2011

GE Healthcare Signs its First Agreement to Establish a Pan-European PET Tracer Production Capability

GE Healthcare announced a manufacturing agreement with Advanced Accelerator Applications (AAA), an international player in molecular nuclear medicine. In combination with GE Healthcare’s existing TracerNET network the new partnership will provide additional capability of proprietary PET tracer production to a cumulative total of 20 sites and initial coverage in 11 countries. This agreement is GE Healthcare’s first step toward establishing a pan-European PET distribution network over the next few years.

“GE Healthcare has a global commitment to advancing clinical knowledge and providing innovations that transform patient management. It is key to ensure new PET tracers availability broadly,” said Jonathan Allis, MI PET General Manager, GE Healthcare Medical Diagnostics. “Molecular imaging plays an important role in enabling confident medical decisions and is the basis of our business.”

Currently, there are 15 tracers in various stages of development in GE Healthcare’s PET portfolio.

AAA is one of Europe’s leading independent third-party manufacturers of PET products. “We believe this agreement represents an important opportunity to accelerate our development plan of PET manufacturing facilities throughout Europe and it has the potential to become our widest offering PET registered manufacturing in Europe,” said Stefano Buono President and CEO of AAA.

July 14, 2011

AAA announces completion of €40 million capital increase – Dompé subscribes 7.7% stake, Eugenio Aringhieri joins AAA Board

AAA has completed a capital increase of €40 million, which will help fund expansion plans and finance clinical trials of its promising portfolio of Radio Metabolic Therapy and diagnostic products.

The fundraising was subscribed by existing and new shareholders, including private investors and pharmaceutical companies. New shareholders include the leading Italian biopharmaceutical company Dompé, which has acquired a 7.7% stake in AAA. Following the capital increase, the number of shareholders in AAA has risen to 116 from 88.

Stefano Buono, CEO of AAA, commented, “We were delighted by the strong support for our latest financing from current and new shareholders. The money raised will help us to accelerate our international growth and finance the development of our promising product pipeline, including Lutathera®. We will also continue to seek complementary acquisitions which will enable us to achieve our goal of making AAA the leading global company in the field of innovative Radio Metabolic Therapy products. We welcome Eugenio Aringhieri to the Board of AAA. His industry insights and his experience of working with pharmaceutical and biotech companies will be of great value to us as we continue to execute our strategy.”