News

September 19, 2012

Start of Pivotal Phase III trial for Lutathera® in cancer patients with progressive midgut carcinoid

Advanced Accelerator Applications (AAA) announces the initiation of an international Phase III clinical trial evaluating the effect of Lutathera in patients with inoperable progressive midgut carcinoid. The study will be conducted at multiple centres in Europe and North America. The first European patient was enrolled on July 20th 2012 in Madrid, Spain. The FDA approved the trial on September 10th. The study, known as NETTER-1, is a Phase III, international, multi-center, randomised, comparator-controlled, parallel-group study evaluating the efficacy and safety of Lutathera compared to Novartis’ Sandostatin LAR. Phase II results in progressive midgut carcinoid showed Progression-Free Survival of more than 44 months compared to the reported 14.6 months of Novartis’ Sandostatin LAR.

June 27, 2012

Appointment of Claudio Costamagna as Chairman

On 20 June 2012, the AAA’s Board approved the appointment of Claudio Costamagna as Chairman.

Mr. Costamagna has been on the Board of the Company since January 2010. He was previously the Chairman of Goldman Sachs Investment Banking division for Europe, Middle East and Africa and has 20 years of investment banking experience, holding senior positions at Citibank and, before, at Gruppo Montedison.

Claudio Costamagna is the founder and Chairman of the financial advisory boutique CC & Soci and holds a number of non-executive Board positions including Luxottica Group, Il Sole 24Ore, DEA Capital, Virgin Group Holding Company and FTI Consulting.

He is also a member of the International Advisory Board of Università Bocconi and is founder and chairman of AdviseOnly.

March 26, 2012

AAA announces strategic steps in the expansion of its European PET manufacturing network

AAA has announced the strategic expansion of its European positron emission tomography (PET) manufacturing network in Germany, Portugal and southern Spain.

The initiative includes the acquisition of the majority stake in Umbra Medical AG in Germany, the acquisition of a PET production laboratory in Porto (Portugal) from GE Healthcare and the construction of a new radiopharmaceutical facility in southern Spain (Murcia), after winning a public tender by the Servicio Murciano de Salud.

Through the acquisition of the majority stake in Umbra Medical AG, AAA enters the German market for the first time and will develop the national MNM market supporting Umbra Medical with the development of its pipeline of proprietary MNM products.

Porto’s facility – the first and only laboratory authorised to produce FluoroDeoxyGlucose (FDG), in Portugal – is located inside the Institutocuf de Diagnóstico e Tratamento (ICUF), a highly equipped medical centre that uses the PET tracers produced in the laboratory, and is inserted in the existing framework agreement between AAA and GE Healthcare to manufacture GE’s PET Proprietary Tracers, announced in early October 2011.

The facility in Murcia, the second one in Spain after the site in Zaragoza, will supply all the regional hospitals in the south of the Country with FDG and other PET products for 15 years following its completion.

Stefano Buono, Chief Executive Officer of AAA, commented: “AAA has made significant progress in its strategy to expand its European PET manufacturing network. Our ambition is to have at least 21 European laboratories in three years time. We believe that at least seven of the 20 new F-18 proprietary products currently in company sponsored clinical studies will reach the market over the next four to five years and will need to be produced in Europe. Our specialist expertise and extensive network of laboratories means we are well placed to manufacture these molecules for both existing and new partners.”